Sensex rebounds 2.8 per cent; Reliance, banks lead

	Dated:07 October,2011

Sensex rebounds 2.8 per cent; Reliance, banks lead The BSE Sensex rose 2.8 percent on Friday after a four-day slide, as euro zone plans to shore up struggling banks eased concerns about Europe's debt crisis. Emerging market equities to rebound by year-end: Citigroup Citigroup said gross domestic product growth in emerging markets would remain strong at about 5.5%-6 % this year and next. Current mood of markets is indecisive: Ashith Kampani, JM Financial Group In an interview with ET Now, Ashith Kampani, MD, Investment Banking, JM Financial Group, shares his outlook for the Indian market and the sectors that he is bullish on. Excerpts: Market Round-up SENSEX 16232.54 440.13 NIFTY 4888.05 136.75 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Bedmutha Industries Ltd. 117.40 + 20.04 National Steel and Agro I 16.65 + 19.78 Nagreeka Exports Ltd. 24.90 + 17.45 Electrotherm (India) Ltd. 143.05 + 17.35 Uflex Ltd. 145.70 + 16.61 NSE Losers Scrip Price(Rs.) %Change J D Orgochem Ltd. 3.90 -27.78 Camlin Ltd. 55.85 -9.48 STL Global Ltd. 3.85 -9.41 Prakash Constrowell Ltd. 167.90 -8.75 Celebrity Fashions Ltd. 5.75 -8.00 Views on Stocks/Markets Avoid Sintex: Ashwani Gujral Neutral on Petronet LNG: Mitesh Thacker Bullish on Tata Motors: Ashwani Gujral IPO/Global Markets European stocks rise Moody's cuts UK banks World stocks higher Rupee / Gold Gold gains Rs 470 Silver futures trade higher Rupee off highs More 'Market' News BofA Merrill downgrades HDIL Bank of America Merrill Lynch has downgraded HDIL to 'Underperform' from 'Neutral' and has cut its price target to Rs 85 from Rs 156. Large cap private banks recoup on short covering Large cap private bank stocks Axis Bank , HDFC bank and ICICI bank are gaining on back of short covering and a technical rebound, two institutional dealers said. Nomura downgrades United Spirits Nomura has downgraded United Spirits to 'Neutral' from 'Buy' and cut the target to 850 rupees from 1,800 rupees, citing lowered expectations of profitability.