Dow jones zooms back to green.. Good news in ten minutes 150 points recovered!!!!

Major Averages Climb Into Positive Territory

(RTTNews) - After showing another significant move to the downside in early trading on Wednesday, stocks have staged a notable recovery over the course of the trading day. The major averages have bounced well off their early lows, climbing into positive territory.

The early weakness reflected continued concerns about the outlook for the economy following the release of a report from the Institute for Supply Management showing a bigger than expected slowdown in the service sector in the month of July.

Meanwhile, strength that has emerged among technology stocks has contributed to the turnaround by the markets, with networking stocks showing a strong upward move. The NYSE Arca Networking Index has risen by 1.6 percent after hitting a ten-month intraday low earlier in the session.

While telecom, brokerage, and trucking stocks have also moved to the upside on the day, considerable weakness remains visible among energy stocks.

The major averages are currently posting modest gains, with the tech-heavy Nasdaq outperforming its counterparts. The Nasdaq is up 16.17 points or 0.6 percent at 2,685.41, while the Dow is up 8.36 points or 0.1 percent at 11,874.98 and the S&P 500 is up 2.66 points or 0.2 percent at 1,256.71.

Hi CB ..thanks for replying ....please also tell me the target for renuka & unitech for this month ?

Hi CB -

1 . any reasons for L&T falling today....is it buy for intraday tomorrow.

2. ABB a buy around 858-860 levels.

3. Jubilant foods a buy around 830 levels.

your best views for the above...

I understand that - we will be flat tomorrow...and trading will be difficult tomorrow as direction will not be clear.....Friday morning will be positive for us and will be seeing a small consolidation in the afternoon due to profit booking....Indian markets absorb all the global negatives in a short span ....this is how the Indian traders behave and subsequently the technical charts... I understand that it is the trading behaviour which is depicted on Charts..

As per bloomberg news Stocks Erase Losses on Stimulus Bets
A big postive news from US. Now Dow trading +ve any small bounce in nifty?

CTS overtakes Wipro to become No 3 IT Company
Cognizant Technology Solutions(CTS) overtook Indian peer Wipro to become the third-largest information technology outsourcer with significant base in India. June quarter sales of $1.485 billion was ahead of Wipro's revenues during the same period by $73million. At a headcount of 118,000, Cognizant was slightly behind Wipro, which had 126,000 employees during the same period.
Fiscal-year revenues of the two companies are not comparable as Cognizant follows the calendar year while Wipro follows a April-March fiscal year. At 34.4% year-on-year growth in sales revenue, Cognizant also surprised analysts. Based on estimates by 19 analysts, Bloomberg had projected a consensus sales estimate of $1.459 billion. Profits came in at $208 million, a growth of 21% over the same period last year. Analysts were expecting it to be around $206.56 million.

hi sir how r u iam fine today waht your think nifty down r up plz thank u