Red may the colour of the day but investors will love to see more green on their screens.
From the beginning of the year, investors have been suffering; especially those holding on to counters they love.
Friday’s bounce could well spill over into today’s session, at least in the early morning trade. The global cues are positive. The exit of Egypt’s autocratic ruler Hosni Mubarak and the subsequent drop in oil prices could aid the sentiment. For the Nifty, a breakout above 5400 should pave the way for an extension of the rally towards 5670 levels.
US stocks finished a strong week at multi-year highs on Friday. European stocks reversed losses to end higher as well. Most Asian markets are up smartly this morning.
Watch out for ADAG stocks; besides the Q3 results investors will watch closely all other developments though enough clarifications have been issued. RIL could be a laggard amid reports of a hefty SEBI penalty in connection with the insider trading case. Other key result to keep an eye on today is that of GSK Pharma, Satyam, Unitech and Videocon.
