The Sensex rose by 256 points on Friday to close at 20,529,
on the back of firming hopes of a US deal to ensure that the country does not
default on its debt, which lifted the mood of the investors.
ICICI Bank , Infosys and Larsen and Toubro were the stocks
that advanced the most while among sector indices, IT, Bankex and capital goods
ended on an optimistic note. Market breadth was positive with 1,335 advances
against 1,131 declines.
The Nifty was up by 75 points and closed at 6,096. Today, we
expect the markets to open on a flat to positive note on the back of firm
global cues.
US markets ended on a positive note with the Dow Jones and
Nasdaq up by 0.7 percent and 0.8 percent, respectively, on speculation that
lawmakers were making progress toward an agreement on raising the debt limit,
to avoid a default. This week, US markets will witness data releases on
unemployment claims and the Philly Fed manufacturing index.
Asian stock markets are closed on account of a holiday. The
SGX Nifty is trading down 8 points at 6,105. Indian ADRs ended on a positive
note. Among financial ADRs, ICICI Bank and HDFC Bank were up by 2.7 percent and
0.8 percent, respectively. Among IT ADRs, Wipro and Infosys were up 4.9 percent
and 6.2 percent, respectively. Tata Motors was up 6.2 percent.
Asian shares and US stock index futures fell and the
safe-haven yen rose on Monday as a possible US debt default edged closer after
the failure of weekend talks in Washington, though expectations are that a
last-minute compromise will be reached, reported Reuters Singapore's Straits
Times was down 0.32 percent or 10.27 points at 3,169.44. South Korea's Seoul
Composite was flat at 2,023.12. Taiwan's Taiwan Weighted shed 0.91 percent or
75.91 points at 8,273.46.
China's Shanghai Composite was up 0.20 percent or 4.40
points at 2,232.55. Hang Seng and Nikkei shut today.
Stocks to Buy Today on 14th October 2013:
Buy Sintex Industries, Target Rs 26 and Stoploss Rs 23
Buy Adani Enterprises
, Target Rs 175 and Stoploss Rs 159
Buy Idea Cellular
, Target Rs 195 and Stoploss Rs 180
Buy Chambal Fertiliser, Target Rs 39 and Stoploss Rs 37
Buy Tata Chemical
, Target Rs 258 and Stoploss Rs 244
Buy Tata Motors DVR
, Target Rs 201 and Stoploss Rs 191
Buy Unitech
, Target Rs 21 and Stoploss Rs 18
