Today is the last day of this week, this quarter and this financial year. On 31st Mar 2006 Sensex closed on 11280 and certainly we are closing above that. Sensex closed at 13786 on the last day of last quarter. Q-o-Q also we will be losing. Last week we had a positive weekly close after a 5 weeks of loss. To have a positive close, we need to cross 13285, which looks improbable to me but not impossible. And yesterday we closed at 12980. (Did you notice all are ending at in eighties?)
Sentiment is definitely week due to rising crude prices (at 66$). Inflation numbers are again in the radar at afternoon. Yesterdays rally in Dow was due to Energy stocks and defensive pharma stocks. Asian markets are trading very flat. Markets are likely to open flat/slightly upward bias and trade flat to lower.
Market is starting the new series very light. FIIs have bought hugely in Nifty options (Hedging!) otherwise very flat numbers in Nifty and stock futures. FIIs have sold in cash market as well. All in all, we don't have anything great to start with, but these kind of days have brought surprise element.
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1 comment:
what no bull cheerleading today?. i am disappointed at you naughty permabull ;-)
BTW... monday promises to bring fresh kaaLai BiriyaNi thanks to yv reddy
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