Today markets were up. The NSE went up by 51 points touching 8567 and the bse went up by 151 points touching 28223. Bank stocks reacted especially Canara Bank which fell to Rs 304 down by Rs 5.40 as the 1st quarter net profit fell due to a huge spike in provisions. FMCG stocks did well. Marico reported good 1st quarter profits and volume of business has grown by 5%. Public sector Banks dont seem to be on a good wicket, as they have a lot of NPA s and provisions. It is yet to be seen, with the Government recapitalising them how they perform?All stocks are moving up except telecom, due to the rise in cost of airwaves and increasing operation costs.
One should be extra cautious while you trade now, as it is tempting to do business as every share is rising. Book profits periodically and enter at low levels. HAPPY TRADING AND INVESTING.
