Equities began New Year on a buoyant note, with the Sensex rallying 150 points in early trade. Brokers said the trigger for the upmove was news that White House and congressional lawmakers have reached a deal to avoid the "fiscal cliff" that would delay harsh spending cuts by two months. Realty, metal and banking shares figured among the early gainers. The Sensex climbed 137 to 19564, and the Nifty was up 39 points at 5944. SBI, Bharti Airtel, HDFC and BHEL were among the notable gainers, climbing around 1 percent each.
The White House and congressional lawmakers have reached a deal to avoid the " fiscal cliff" that would delay harsh spending cuts by two months, Obama administration officials said on Monday.
Nifty For Today:
Nifty is looking in a positive side today. Having a support at 5880 level it has a resistance at 6000 level for today Now. The Current trend of Nifty suggest that it will get 6200 level soon.
Stocks To Buy:
Cairn India Ltd.
In Cairn India Ltd. Buy is suggested for Target of Rs 400. The management is confident of expanding the current pipeline capacity to more than 200,000 barrells per day.
Manappuram Finance
Buy/Hold for Target of Rs 38. While the company remains confident on underlying demand, near-term growth is likely to disappoint on funding challenges. NIMS could remain under pressure in the third quarter.
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