Markets rebounded smartly taking cue from events like firm global markets, cooling off inflation to 5.74 per cent from the previous 6.32 per cent, steady industrial production data and ECB's desicion of keeping rates unchanged at 3.75 per cent. | |
| Overall, Sensex gained 528 points or 4.11 per cent over the week to close at 13384 and the S&P CNX Nifty ended with gains of 165 points or 4.43 per cent to close on Friday at 3917. |
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| What to expect this week |
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| Market experts believe that the positive sentiments of last week is expected to continue due to strong result expectations from TCS, HCL Technologies and Wipro following Infosys' satisfactory performance in Q4FY07. |
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| However higher crude oil prices and uncertainty over the domestic interest rates is expected to prevent any substantial upside. Market participants are eagerly awaiting for the announcement of Reserve Bank of India's annual policy on April 24. | Stock to watch
| DECCAN AVIATION | | Last week's close (Rs) | 113.83 | | Prev. week's close (Rs) | 91.35 | | Week's high (Rs) | 113.83 | | Week's low (Rs) | 91.38 | | Last week's ave. daily turnover (Rs cr) | 19.20 | | Prev. week's ave. daily turnover (Rs cr) | 2.42 | | Number of up/down move | 5/0 |
Investors flocked to buy Deccan Aviation, the market leader in the low cost airline business and operating the country's second largest airline, Air Deccan, thanks to the Air Sahara's buyout by Jet Airways. According to market experts, investors turned optimistic in anticipation that consolidation is underway in the highly competitive aviation sector and companies will gain pricing power. Another reason for he jump in the stock is that Deccan Aviation is expected to breakeven in this financial year after bleeding heavily in last few quarters. Moreover the stock has given a negative return of around 29 per cent and hence could see some action with a positive bias. |
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