There was good buying in capital goods stocks today. The index was seen trading around 1.5 percent up. In capital goods, Voltas and Supreme Industries jumped by around 5%. Along with this, IT and real estate also remained in good shape, whereas there was mild pressure on government banks and NBFCs. Cement stocks remained strong today. On the bullish report of Morgan Stanley and CLSA, UltraTech rose by around 3 percent and joined the top gainers of Nifty. Power finance stocks got a current due to the bullish report of CLSA. PFC and REC rose by around 5-5 percent. CLSA has given outperform rating on both the stocks.
Today, there was selling in capital market related stocks. BSE slipped by about 5 percent due to neutral rating of GOLDMAN SACHS. Angel One and MCX also fell by 5-7 percent. However, buying returned in cable and wire stocks. KEI and Polycab rose by 2-3 percent due to BUY rating of UBS. Havells and RR KABEL also remained strong. Today, dealers advised their clients to bet on JSW ENERGY and POLYCAB stocks.
CNBC-Awaaz's Yatin Mota quoted sources in the dealing rooms as saying that today dealers advised their clients to buy power generation shares. Dealers have advised BTST on JSW ENERGY. BTST advice on the stock means to buy today and sell tomorrow. Dealers said that HNIs have bought the stock. Dealers have set the target for this stock at Rs 485-490 per share.
As the second stock, dealers have bet on cable sector stocks. Yatin said that dealers have advised to do BTST on POLYCAB stock. BTST opinion on the stock means to buy today and sell tomorrow. Dealers have given targets of 4900-4950 in the stock. According to dealers, big domestic funds have been buying the stock. The OI of the stock has fallen by 9%. Short covering is possible in the March series.
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