MUMBAI: Weak overseas cues compounded by poor quarterly earnings across Asian markets ensured another shaky opening today at the Indian bourses.

However, just as there there has been resistance to upmoves, there seems to be clear buying interest at lower market levels, that leads to a pull-back. Today's trading session was no different.

IT stocks gained on bargain hunting after a recent fall caused by disappointing US economic data. Infrastructure stocks too gained on fresh buying at lower levels.

Auto pivotals witnessed a divergent trend through the day before ending on a positive note. The sectors that ceded ground today were realty and consumer durables. Notably, cement stocks gained on reports of a price hike effective from February 1, 2010.

In tomorrow's trade, the sector to watch out for will be telecom, which has gathered positive momentum in the last couple of trading sessions after having been beaten down sharply in the sell off last week.

The stock to be watched in this sector is the pivotal, Bharti Airtel. There is a market-buzz about Bharti Airtel launching its application stores (known as APP Stores) shortly and going live with about 1,200 applications.

Another stock that merits watching in tomorrow's trade is Jubilant Foodworks. After a spectacular listing yesterday, the counter was flat today and should the market succumb to profit booking, there could be price traction here too.

Overall, there has been some respite with the Sensex crossing 16,000 points for the first time after four trading sessions and the Nifty ending within striking range of 4,800 points.

Whether this is merely the calm before the storm or translates into a resurgence will depend greatly on global cues. Keep your fingers crossed.

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