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Stock markets worldwide gained on Friday as investors welcomed the European Central Bank's latest bond-buying plan and positioned for a potentially strong US jobs report. The BSE Sensex jumped nearly 350 points or 2 per cent while the Nifty traded with over 100-point gain. Japan's Nikkei average climbed 2.2 per cent, its biggest one-day percentage gain in five months. European stocks consolidated after hitting a six-month high, while US stocks hit a four-and-a-half-year high yesterday. Analysts were mixed in their outlook, some expecting markets to go up, while others suggesting profit booking. Devang Mehta, vice president (equity sales) Anand Rathi Markets are likely to go up from here on the back of liquidity. If US jobs data is weak, markets will cheer this in expectations of QE III. There is no improvement in fundamentals, but liquidity can do crazy things. It's better to stay with stocks that are doing well like pharma and FMCG. Shubham Agarwal, AVP & senior technical analyst, Motilal Oswal Securities For the short term, investors could book out of long positions because there is a big gap on the daily chart, which could lead to a pullback of 50-60 points on the Nifty after which investors can take a long trade. Markets have strong resistance at 5,350 after which 5,450 is possible. Abhay Laijawala, MD & head of research at Deutsche Equities With the ECB going out and delivering, there are expectations that this rally will continue... There are considerable hopes that the government will raise fuel prices and that could probably pave the way for the RBI to look at easing. visit: Stock Market Tips
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