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Today after opening, the stock market touched the new heights and Nifty reached 7922. But after a spectacular rallies of 6 days, the market is busy with profit taking sessions. Realty, capital goods, oil & gas and FMCG stocks have selling pressure on the market. However, pharma, IT and technology stocks have buying trend. While there is good buying in smallcap stocks.Midcap stocks are sluggish. The BSE 30-share Sensex index down 70 points, ie 0.25 per cent and is trading at a level of 26,353. The NSE 50-share Nifty index fell 19 points to 7879.

A Bank of America default could have led the financial sector to lows rivaling 2008.A $5 Billion influx from Warren Buffett's Berkshire Hathaway led investors to breathe a sigh of relief and consider buying financial stocks today.

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