Missed Chances

The bourses continued their upward march and were looking for more reasons to sustain the momentum.

Like always, the effects have started justifying the cause and players are now looking for positive news and stories as justifications for bull moves.

While some pessimists are now feeling that they have missed the boat with the market having gained almost 700 points from its low , the desperation is beginning to show.

Could this be the time to lighten positions or is the rally here to stay, is the million dollar question at the moment.

Cementing moves

ACC was in the limelight once again and today about 12 lakh shares are reported to have been picked up. King Kong, Co-Tech and Numero Uno were reported to have bought about 3-4 lakh shares each.

Buying in cement stocks at this time of the year is generally not the done thing since monsoons are considered a slack season for the industry.

However, with the Ambuja group rumoured to be picking up stock in the open market in an attempt to shore up their holdings before the ultimate open offer, the stock is having more than its usual share of action.

A technical comeback

Aptech was picked up by King Kong today and the firm is reported to have bought about 3 lakh shares.

Ever since the management announced its plans to demerge its software training business from the development business and then merge it with its sister concern Hexaware, the stock has been on a sharp decline.

Most funds chose to dump the stock at that time since they felt they would be getting a raw deal in the bargain.

The refusal of the stock to bounce back from its lows even as the rest of the software sector has staged a comeback, could possibly be one of the reasons for King Kong to pick the stock, seeing very little downside to such a move.

Miscellaneous

Banking stocks were in demand today and Uncle Jam reportedly picked up 4 lakh shares of SBI in today