Morning Market View:

Nifty have drifted lower in the last session all thanks to the ongoing selling in the information technology stocks. The sentiments on the street is looking cautious with good buying action seen in the broader markets. The support for the week is around 25300-25350 on the lower side while 25750-25800 is the hurdle for the short-term traders. Banking Index is now showing first signs profit booking again and some more drift lower towards 60800 expected where good support is placed. Short term traders should keep 60500 (spot) as stop loss for all the long contracts and may hold long positions till it is not breaching the support zones for the day. Buzzing Stocks on the Street today:

Government of India is set to sell up to 26.13 crore equity shares (Impact: Neutral to Negative) - has received a Letter of Acceptance (LoA) for an order worth Rs 270.22 crore from Central Railway. (Impact: Negative) - has received approval from the US FDA for its Abbreviated New Drug Application (ANDA) (Impact: Positive) - has received a letter from the US Securities and Exchange Commission (SEC) stating that, based on the available information, the SEC has concluded its investigation and does not intend to recommend any enforcement action against the company (Impact: Neutral to Positive)