Pre-Market report on 30.04.2008

[N.Sukumar]

Stocks look to consolidate their gains, midcaps look for a chance to
shine
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The Indian markets look to resume their upswing on Wednesday morning
on the back of a positive RBI policy, extension of tax holiday for the
technology firms.

Overnight the US markets were mixed with NASDAQ remaining unchanged
and the Down losing 0.3 percent. The Asian markets are up for a
positive start this morning and our markets are expected to follow.
Technically the market looks good with both Nifty and the Sensex
closing at their day highs, which is a positive sign. The action in
the markets has become stock specific and majority of the stock are
moving based on the news flow or on hopes of good Q4 numbers.

NALCO was conferred with Navratna status today from the Government of
India. However the company reported a 32 percent decline in the net
profit for the year 2007 -2008. The company blamed currency
appreciation and a fall in the aluminum prices for the decline.
Tuesday's session belonged to IT and Realty and all the other sectors
were subdues. We expect Realty to continue its uptrend as they
corrected a lot this year. We see other realty stocks like Parsvnath,
Gammon, IVRCL and GMR to join the bandwagon soon.

Among the midcaps IndiaBulls securities has witnessed huge volumes and
is poised for another day of gains. We advise investors who have
entered around the Rs 90 levels to exit at Rs 148 levels. Birla Power
Solutions, Great Offshore, Pratibha Industries and Nocil are some are
the stocks to keep on your radar if you are an active trader. Overall
we expect the index to gain 80 - 100 points and as always midcaps to
take the lead.

Market Close Box

BSE Sensex 17378.46 362.50
NSE Nifty 5195.50 105.85
USD Rs.40.22
Oil Nymex $115.6

N.Sukumar
Research Analyst