Indian Markets gain on sharp decline in commodity prices - Microsec

As expected last week, Indian market gained on sharp decline in commodity prices, esp. that of crude oil, which fell less than $100 a barrel (brent). Higher than expected decline in inflation for the month of March, 2013 to 5.96 % also aided higher rate cut expectations in the market, which led to sharp rally in rate sensitive stocks, esp. Banking & Finance.

Going forward, quarterly results will determine movements in stock specific stocks. However, as stated in earlier occasions, decline in stock prices should be used to BUY with a medium to long term Key results; Events during the week are Cairn India, ICICI Bank, HDFC bank, Axis Bank and others.

Buy L&T, Dabur, Pidilite, Tube Investment, IL&FS, Cairn Transportation, NTPC, and MRF for investments. Traders can BUY Banking stocks on declines in anticipation of rate cuts.

Source : Equity Bulls

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