DSIJ Mindshare

This morning markets are greeted with both the positive and negative headlines. The weight of positive headlines is likely to overshadow the negative headlines as most of the negatives is already factored in and we believe that the positive catalysts will keep the bulls in driving seat today.

In today’s trade the benchmark indices were trading in positive terrain and in addition the Metal stocks too joined the rally. BSE Metal index was up by nearly 2.8 per cent and  touched an intra-day high of 9,042.35. In last one week the BSE Metal index has delivered nearly 7 per cent return.

Shares of Jindal Drilling & Industries jumped over 15 per cent intraday on Tuesday as the company announced on the bourses on bagging an order from ONGC.

Vikas WSP has received an export order backed by Letter of Credit (LoC) for US$ 30 million (Rs 210 crore) for the export of guar gum powder to be used in oil fields in the Middle East. 

Although the inflation rate has remained within Reserve Bank of India's (RBI) target level of 4 percent, but it was higher than the previous month data.