Wall Street begins 2nd quarter slightly Higher

I hope everyone has bought the multi-baggers: Vikash Metal and Power Ltd, U B Engineering Ltd, DCB Ltd, Reliance Industrial Infrastrucutre Ltd (RIIL), Prajay Engineers Syndicate Ltd, Sunil High Tech Engineers Ltd, Phoenix International Ltd, Ennore Coke Ltd, Pyramid Saimira Theatres Ltd, Suzlon Ltd, H S India Ltd and XL Telecom and Power Ltd, Megasoft Ltd, Bartronics Ltd, IFB Agro Industries Ltd, Kilburn Engineering Ltd, etc. If you remember I have upgraded Suzlon Energy Ltd from a sell to buy a couple of weeks back when the stock was trading around Rs.34--Rs.35 range.

What were the BTST calls given yesterday??!! Yesterday the Paid Group members were asked to buy 3100 Nifty call. Those who have bought Opto Circuits Ltd and Areva T & D Ltd, please book some profits and keep holding the rest with a SL of Rs.105 and Rs.197, respectively. Wockhardt Ltd (BSE Code: 532300) was given as a positional buy to the Paid Groups.

NEW YORK – Wall Street began the second quarter on solid footing Wednesday as better-than-expected economic reports helped the market extend a four-week rally.

After falling in the early going on disappointing jobs data, the Dow Jones industrials ended with a gain of 153 points following reports showing a rebound in pending home sales and improving manufacturing activity. Other major indexes rose about 1.5 percent.

Financial stocks led the market higher, followed by big gains in the technology and energy sectors. As sentiment about the economy improves, investors have been buying up industries they believe are likely to lead the country out of recession.

The Dow charged ahead in March, rising 16 percent off of 12-year lows hit early in the month, but its movements over the first three months of the year have been among the most tumultuous on record. Only three other times in the Dow's history has it experienced 20 percent swings in both directions in one quarter.

Better economic data and an improving outlook on U.S. banks in recent weeks has fueled optimism that the recession could end this year. But there are still a number of analysts who warn against calling a bottom to the market too soon.

Volatility is expected to continue as investors try to gauge where the economy goes from here.

"People seem to swing from one side to the other of 'the recovery has started' to 'the world is ending again,'" said Bill Stone, chief investment strategist at PNC Wealth Management.

According to preliminary calculations, the Dow rose 152.68, or 2 percent, to 7,761.60.

The Standard & Poor's 500 index rose 13.21, or 1.7 percent, to 811.08. The technology-heavy Nasdaq composite index gained 23.01, or 1.5 percent, to 1,551.60.

The Russell 2000 index of smaller companies rose 6.41, or 1.5 percent, to 429.16.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to came to 1.5 billion shares.