Indian markets yesterday fizzled out on acount of global markets meltdown .Sensex lost nearly 480 points and closed at the lowest point of the day. ICICI Bank , Tata Steel are the major loosers in yesterdays trade. Banking index lost the most sector wise.
US markets tumbled at the opening with White House rejected turnaround plans from General Motors Corp. and Chrysler and gave investors an economic reality check. Dowjones lost nearly 250 points.
Asian markets which opened lower are trading firm and are in positive territory. HANGSENG and NIKKIE are trading in positive with both gaining nearly 0.5%.
Indian markets are expected to open flat and after initial havoc may recover . We may see some recovery coming in the sectors and stocks which lost the most in the yesterdays trade . We advice members to trade cautiously keeping an eye on world markets i.e European and DOW futures.
Sugar and Fertliser stocks may give a surprise rally and the gains in banking sector today is not ruled out. Overall a flat market in opening and recovery in the late half
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