Nifty snaps winning streak; BHEL, M&M, JP Associates down

	Dated:07 February,2012

Nifty snaps winning streak; BHEL, M&M, JP Associates down The Nifty snapped its five-day winning streak and closed in the negative terrain due to lack of supportive cues from global peers. Goldman upgrades Reliance Industries to buy on margin expansion Goldman Sachs in a recent report has upgraded Reliance Industries (RIL) to 'Buy' from 'Neutral', citing a potential lift in margins Overweight on India, Asia in terms of equities: Mirae Asset Securities We like what we see in India or what we think is coming for India. Number one is that we know inflation is falling, says Bill Belchere, Mirae Asset Securities. Market Round-up SENSEX 17622.45 -84.86 NIFTY 5335.15 -26.50 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Prithvi Softech Ltd. 16.05 + 36.60 Pearl Engineering Polymer 2.35 + 27.03 Jindal South West Holding 878.75 + 20.00 Barak Valley Cements Ltd. 17.30 + 19.72 DCM Ltd. 73.45 + 19.72 NSE Losers Scrip Price(Rs.) %Change Manappuram Finance Ltd. 45.15 -19.95 NCC Ltd. 51.95 -15.67 Insecticides (India) Ltd. 400.00 -12.11 Bliss GVS Pharma Ltd. 23.50 -11.49 TCI Developers Ltd. 133.15 -10.58 Views on Stocks/Markets Buy Hero MotoCorp: Mitesh Thacker Avoid Idea, RComm; go with Bharti: Ashwani Gujral Infra stocks to complete a pullback: Mitesh Thacker IPO/Global Markets World stocks lower on Greek impasse European shares slip back on earnings LIC Housing to raise Rs 2 bn via bonds Rupee / Gold Rupee ends weaker Gold snaps 2-day slide Gold holds below $1,720/oz More 'Market' News Sensex will hold onto 16,000 base level: Nikhil Vora, IDFC Securities While the world is falling apart, India will still stand out. At 16000 base level, you find lot of comfort on valuation, says Nikhil Vora, IDFC Securities. SpiceJet, Kingfisher, Jet gain over 10% as GoM clears ATF import proposal Shares of airline companies surged over 10% on Tuesday on reports that the GoM on aviation has cleared proposal for allowing airlines to import aviation fuel. Q4 can be even worse for PSU OMCs: Alok Deshpande, Elara Capital It is too early to decide what the Q4 GRMs would be for Reliance. But the recovery has been pretty strong, especially in the light distillate products.