We’ve just seen some glorious moments on the cricket field as the Men in Blue as just two steps away from getting the World Cup. Global markets seem to be shrugging off concerns related to Japan, spreading unrest in the Middle East and downbeat reports from Portugal and Spain. In fact, global stocks rose for a sixth day, the longest rally for the MSCI World Index since September last.
The Indian indices also clocked gains despite food price index rising to 10.05% in the year to March 2012, from 9.42% in the previous week.
The outlook for today is again positive with the indices expected to remain in a narrow range. The global cues are positive. Asian markets are moving higher as construction stocks are gaining on hopes of rising demand as Japan rebuilds after the earthquake.
US stocks saw some last hour gains after being boosted by positive earnings in the technology sector. The Dow added 85 points; the S&P 500 gained 12.1 points and the Nasdaq moved higher by 38 points.
There is no strong conviction to increase buying at these levels. In case you decide to do so, stick to the relatively larger stocks.
