Rollover time: swings later in the day - IIFL

Volatility is a given as the rollovers take place today. The outlook is weak given the subdued global cues. Some buying could set in towards the end but runaway gains are unlikely.

The banking counters may see some value buying after eight of the 13 major bank stocks slumped at least 5 percent on Wednesday. Indian Oil Corporation could see some action as the Cabinet is likely to consider the proposal for sale of 10% stake in the company. The rupee ended stronger at 59.15 against the dollar. Container Corp of India will consider a bonus share issue today. Cement counters are likely to see some action a Swiss cement major Holcim is set to increase its stake in Ambuja Cements from 50.55% to 61.39%. Ambuja, in turn, will buy Holcim's stake in ACC.

Asian markets are mostly lower. Japan's Nikkei 225 and Hong Kong's Hang Seng index were half a percent lower each. South Korea's Kospi index is marginally up while China's Shanghai index is flat.

Source : Equity Bulls

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