Today, the BSE sensex and NIFTy both touched their peak in the last 15 months (or may be 18 months). While NIFTY reached a high of 5230, Sensex zoomed to 17400, raising the expectations for the investors and traders that 2010 will see more upswings. Banks, automobiles, and IT so far have been the trendsetters, while pharmaceuticals turning out to be a dark horse and has given surprisingly lucrative returns. Speaking of IT, the large caps seems to have touched their peaks and I personally do not see anything spectacular returns from them, so my bets will be on mid-cap IT including Hexaware, Rolta, Sonata, Nucleus, and perhaps FSL, Firstsource, Foursoft, and Moser Baer.

Sugar stocks are also showing some upward momentum and today Bajaj Hindustan and Balrampur Chini rose by 1-2% each. It will be interesting to see how they perform with trade pundits and marketers predicting a sugar shortage of anywhere from 7-10 million tons on account of rainfall deficit and delay in sugarcane crushing in UP sugar mills.