Stocks moved higher today on hopes that Europe may finally address its sovereign debt issues. Financials lead the way as the sector moved up by as much as 5 percent.
The market is trading higher today as investors receive encouraging news from Europe. Netflix says it is abandoning its spin-off plan, and Apple announces a new record.
With the immediate threat of a double dip behind us shares of Potash have been on the rise. The integrated fertilizer company has been hard hit this year and looks well prices as analysts predict robust demand.
The lack of expected resolution to financial problems in the eurozone and weak manufacturing reports hurt oil service sector stocks in trading today. Halliburton was especially hard hit as overseas earnings failed to excite the investing community.
Shares of Pepsi, Kennametal and Energy Transfer Partners seemed to have lost more ground than they deserve alongside the broader exit from equities and hiccups within their own business. At these levels, they look like strong buys again.
Gold miners are climbing higher and Samaranta Mining Corp., which has interest in Colombia's rich mining industry, could be poised to benefit should the trend continue.
The third-quarter earnings season has kicked off, but while initial results may be underwhelming, S&P's Sam Stovall says investors may want to watch the battered sectors more closely.
Q3 earnings take center stage. Wall Street now EXPECTS the U.S. to avoid recession and for Europe to solve its debt problems. There may be no room for surprises in this market.
Given the strength of the recent two-week move, it is not surprising or unhealthy to see small corrections like the selling that occurred yesterday, which was on light volume.
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Today, Nifty 50 was at 7,746, went down 78 pts or 1 per-cent. It reached a high of 7,764.55 & a low of 7,741.20 in the first 30 mins of trade. While the 30-share index was trading at 25,619, down 247 pts or 0.96 per-cent. It reached a high of 25,724.09 and a low of 25,590.96 in morning trade.
Nifty futures updates : Today, Sensex was trading near 25,713, went up by 90 points or 0.35 per-cent. It attained a high of 25,766.76 & a low of 25,697.22 in early morning trade.
The Nifty - 50 was at 7,779, up by 47 pts or 0.62 per-cent. It reached a high of 7,792.55 & then a low of 7,768.50 in the early 30 minutes of trade.
The 30-share index was trading at 25,645, went up 162 pts or 0.64 per-cent. It reached a high of 25,680.76 and a low of 25,616.33 in morning session.
BSE S&P Smallcap Index was trading 0.84 per-cent higher & the S&P BSE Midcap Index went up 0.77 %.