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Markets cools a bit after 5 day run – Feb 7, 2012

February 7th, 2012

Stock markets have taken a bit off after a stellar 5-day run.

The SENSEX closed at 17622.45 slipping 84.86 (-0.48%) while NIFTY closed at 5335.15 dropping 26.50 (-0.49%) points. As one can anticipate, the Midcap and Smallcap stocks took a cautious reversal of course with the CNX Midcap getting down to 7355.15 after slipping 78.80 (-1.06%) points while the BSE Smallcap closed at 6751.98 down 29.95 (-0.44%).

Experts however say that the party is not over yet since the markets are still over the 200-day average.

RBI said that Manappuram Finance is not permitted to accept/renew deposits from public. The script took a beating and has at one point hit the lower circuit. It ended at Rs. 45.15 down Rs. 11.25 (-19.95%) with a volume of 26.71m shares traded.
ICICI Direct Top picks

ICICI Direct has given some top picks in its research report dated Feb 6, 2012

Orient Paper & Industries - Target price: Rs. 71
Biocon- Target price: Rs. 366
Motherson Sumi – Target price: Rs. 171
JK Tyre – Target price: Rs. 88
Oil India – Target price: Rs. 1490
Navneet Publications – Target price: Rs. 65
DB Corp – Target price: Rs. 230
Bharti Airtel – Target price: Rs. 450
Dish TV – Target price: Rs. 71
Bank of Baroda – Target price: Rs. 954
Dena Bank – Target price: Rs. 84
Simplex Infrastructure – Target price: Rs. 285

Entry Filed under: Equity Markets, Banks & NBFC, Closing Bell