Aviation stocks fly high Ø :: CSEC Research

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Aviation stocks fly high

Ø   The BSE Sensex snapped its five day winning streak on account of Greece debt talks. Asian Peers remained subdued throughout the day.

Ø    Aviation stocks traded on a high note as the EGoM allows direct import for Aviation Turbine fuel. Jet Airways, Kingfisher, and Spice jet surged more than 10 percent.

Ø   Mahindra and Mahindra, Cadila, Opto Circuits declined on the back of tepid Q3 numbers. Meanwhile, BGR Energy and Hindustan Unilever extended their losses on the back of its 3rd Quarter numbers.

Ø  Manapuram Finance declined more than 15 percent after the Reserve Bank of India cautioned the company against accepting deposits from the public and threatened to take action if it continued doing so.

Outlook

Ø   The Dow Jones Industrial Average rose 33.07 points, to 12,878.20, its highest close since May 19, 2008. It had reversed higher early in the session after falling as much as 62.56 points.

Ø  In today’s trade Asian peers are trading in green and SGX Nifty is trading ~ 17 pts higher, indicating a flat opening with a positive bias.

 

Regards,

CSEC Research