Daily Call - May 20 2009

After some artificial trading seen on Monday, markets did some real business on Tuesday, providing ample opportunity for the bulls and the bears to sweat it out on the bourses. As the bourses traded for their full trading hours, volumes breached previous records. Both the Sensex and the Nifty ended absolutely flat after wild two way swings.


Markets gave a clear thumbs down to IT and FMCG stocks and chased infrastructure, reality and bank stocks to the moon, making no pretences of where its priorities lay. The ADAG stocks were on fire making the markets guess whether SP will eventually end up in the Government. While buying could emerge today as well, it is more likely to happen at lower levels. Expect the markets to lose some altitude in the morning.