Stock Markets Close above 15000 driven by Value Buying
Indian Stock markets remained strong on fifth consecutive day. The markets ended above 15000 levels. M & M was among biggest gainers on Stock Markets. The stock ended at Rs 675.15, up by 2.95%. Reliance Comm. and HDFC Bank were also among top gainers in index stocks.
Pharmaceutical major Cipla lost further ground and ended the day 2.68% down at Rs. 165.20. The trading volumes in the stock were less than the 30 day average volumes. Reliance Energy also lost nearly 2% and closed at Rs. 766.
Analysts expect markets to open strong on Friday. The Indian markets look strong and there is support at lower levels. Markets have rebounded quickly from lower levels due to value buying in some blue-chip stocks.UPA government has put a hold on Nuclear Deal with United States. This step will ensure the continued support to the government from Left Front. Analysts expect a solution to the political crisis soon. This may help the markets to gain further.
Markets will also depend on the Global cues. Recent news from United States are not very good and this may cause a slide in emerging markets. US Fed report has suggested a weak US housing and real estate market.