Nifty can scale up to 6900 in coming months: Macquarie Capital Securities

	Dated:13 May,2013

Top Headlines  Nifty can scale up to 6900 in coming months: Macquarie Capital Securities Sensex at over 14 months low, plunges 431 points on profit-booking The Sensex fell 2.14% to 19,691.67, a biggest slump after Feb 27, 2012. The index had climbed to over three months high in the previous session. FIIs' ownership of Indian stocks at 8-year high: BofA-Merrill Lynch Key stocks bought by FIIs during the quarter were NTPC, Axis Bank, Infosys, Tata Consultancy Services and ITC, BofA-Merrill said. Sensex snaps 400 points; time to book profits or buy on dips? Broad based selling was seen in blue chip heavyweights such as ITC, L&T, TCS, HDFC, ICICI Bank and Bharti Airtel. Views on Stocks/Markets DIIs overweight on Industrials, Consumer Staples: BofA-ML BoI may show more downside, prefer PNB: Quant Broking Use mkt decline to buy good quality stocks: Anand Rathi Sec   Market Round-up SENSEX 19691.67 -430.65 NIFTY 5980.45 -126.80 S&P500 1,633.70 .00 NASDAQ 3,436.58 27.41 USD/INR 54.8090 .00 NSE Gainers Scrip Price(Rs.) %Change MVL Industries Ltd. 22.50 + 423.26 GTN Textiles Ltd. 17.00 + 211.93 Hydro S & S Industries Lt 42.20 + 175.82 Parrys Sugar Industries L 52.10 + 157.28 Cura Technologies Ltd. 39.45 + 142.77 NSE Losers Scrip Price(Rs.) %Change Money Matters Financial S 107.05 -41.18 SPL Industries Ltd. 2.65 -34.57 Madhav Marbles & Granites 15.10 -32.29 Indian Terrain Fashions L 55.00 -29.49 Salora International Ltd. 16.20 -28.95           IPO/Global Markets IPO: Just Dial to raise $174 mn Nikkei hits fresh 5-1/2-year high HK sees worst monthly loss Rupee / Gold 'Re to be in 53.80-54.80 range' Re recovers from 2-month lows Gold falls by Rs 180 More 'Market' News Hot stock: Morgan Stanley sees more upside in Sun Pharma MS has maintained 'Overweight' rating on Sun Pharma and added the stock to “Asia Best Idea”. FII inflows to support Indian equities: Geoff Lewis, JP Morgan AMC The share of money marching into India has never been greater. This seems to be a vote of confidence by FIIs in the secular Indian growth story. Nifty can scale up to 6900 in coming months: Macquarie Capital Securities Hopefully, we will get a normal monsoon and that should ensure interest rate cuts to pick up. We are more bullish on the second half of the year.