As expected the Indian markets opened with a huge gap up opening in the morning. At the time of writing this, the top gainers in the NIFTY are Suzlon, Sterlite, ONGC, ICICI Bank and SAIL.
The NIFTY was trading around 4226, up almost 122 points from Friday's close. Sensex was trading around 14500, up almost 356 points.
Today morning I saw many brokerage houses have turned bullish again and has come out with buy reports. JM Financial Services commented that the worst is over for the market and doesnt expect the market to go below 13900-14000. The opinions change so fast from these brokerage houses.
The market rumours say that Anil Ambani is looking to buy out 6 telecom companies across the globe with the help of private equity funding. I am not sure with the existing liquidity crunch in the global markets, if Anil Ambani could pull this out. Reliance Communication has remained muted to this market rumour and trading around Rs510/-.
Lets see how the last hour of trading today pans out.