In volatile trade, the stock markets overcame the initial setback on Friday (August 08) with the benchmark Sensex gaining more than 50 points to remain above 15,000-level at the closing time after declining below this crucial level during late morning trade.

Finally, the 30-share bellwether index on the Bombay Stock Exchange ended the day at 15,167.82, up 50.57 points, on account of some buying action witnessed in metal and capital goods stocks.

The S&P CNX Nifty of the National Stock Exchange ended at 4,529.50 after gaining 5.65 points.

For the week ended Jul. 26, 2008, Inflation reached a new double digit high, in over a decade at 12.01% being the highest in more than 13 years, primarily because of higher prices of pulses, spices, egg, fish and meat.

Stock market analyst Vishwas Agarwal said that if BSE Sensex crosses 15,150 level, then its next objective will be 15,555-15,786 and 16,150.

At this level, the basic stop loss is 14,786, he said.

Mr. Agarwal added that declining crude prices is a big event for the worldwide financial system. Another encouraging development is the descending commodity markets, and this will redirect the money from commodity to equity and help revitalize the stock market conditions.

He recommended Satyam Computers, Videocon, Gujurat Alkali, Suzlon and Sasken Communication look good for trading on Monday (August 11).