Market in consolidation mode
Brokers Outlook: Market in consolidation mode Divya Arora, assistant manager, Karvy Stock Broking, said that today (September 10) market outperformed global markets. As expected it opened with a downward gap but recovered during the later half of the day. Service industry especially broking houses performed well on the bourses. Realty stocks were showing momentum. Index stocks like Reliance Petroleum traded well and are expected to continue the same show in the next trading session also. She opined that market is in a consolidation mode and can touch new highs shortly. She is bullish on infra stocks, Reliance petroleum and NTPC. Power and energy sector look good, added Divya. Bhupendra Sharma, vice president, Hornic Investments, said that market was quite good today. It opened weak on the back of weak Asian markets but recovered later on and closed flat. Mid-caps and small-cap co mpanies performed well. Stock specific movement was there. Major buying was seen in Reliance Industries, State Bank of India and ICICI bank. According to him, market will remain positive on Tuesday and is likely to touch new highs soon. Stocks to be watched out are Escorts, Welspun Gujarat, Reliance Industries, Reliance Petroleum, and Reliance Energy. Among small cap stocks, he is bullish on Futurapoly, NCL Industries and Media Video.
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