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Trade4Target : Daily Updates 8/10/2014 Mkt may fall 5% further; IT still attractive - Trade4Target The current market fall is likely to fall anything between 3 to 5 percent and may find a floor at those levels, says C Jayaram, joint managing director, Kotak Mahindra Bank. Speaking to CNBC-TV18, Jayaram says the market has run up a lot post the general elections and is cooling off now. But for any rally now, the market will need some robust global or economic triggers. www.trade4target.com

The market remained strong in morning trade with the Sensex surging 281.73 points or 1.07 percent to 26528.52 and the Nifty climbing 84.10 points or 1.07 percent to 7926.80 supported by broadbased buying. Market expert Ambareesh Baliga sees 7,800-7,750 as good support level for the Nifty. In an interview with CNBC-TV18, he said Nifty is unlikely to go much beyond 8,000 levels. He remains positive on cyclicals and expects them to become more attractive post any market correction. According to Baliga, the next leg of market rally will be led by cyclicals. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 1.4 percent each. Advancing shares outnumbered declining ones by a ratio of 1544 to 380 on the Bombay Stock Exchange. The BSE Capital Goods, Realty, Metal, Banks, Healthcare, Power and Oil & Gas indices gained 1-1.7 percent. Hindalco and BHEL kept their top positions in the buying list, up 4.8 percent and 3.5 percent, respectively. Dr Reddy's Labs, Cipla, HDFC, Bank of Baroda, Ambuja Cements and PNB surged 2-2.6 percent. However, NTPC and Bajaj Auto were only losers in the Sensex 30 stocks.

According to CNBC, the US Financial Network blog, micro-blog station, Wal-Mart produced a lot of high-tech ideas behind the scenes. Recently, this large retailer has issued a series of patent applications that may in the future subvert the shopping experience we all know.

With negatives looming out of Europe and unanswered questions about the direction of the U.S. economy, stock prices will probe for a comfort level.

Coca-Cola announced a stock split yesterday despite the long-held opposition to such moves by its largest investor, Warren Buffett.

Stock market guru Jim Rogers has been very public in his bearish outlook on American markets and his belief that Asia is the smart place to invest.