Markets have been on a losing momentum for four successive days. On this first day of F&O series for the month of May, the markets are likely to extend losses and start on a lower note. The negative Asian cues may drag the markets coupled with rising crude oil prices may also lead to a cautious trade.
Amid concerns of rising inflation and slowdown of industrial growth, the Reserve Bank of India (RBI) will hold consultations today with the government in the run-up to its annual credit policy to be announced next week.
The companies scheduled to report quarterly results today include IDFC, Titan, Oriental Bank of Commerce, Corporation Bank, Uco Bank, SAIL, Jain Irrigation, Bharat Electronics, United Phosphorus, Shriram Transport Finance Co, United Spirits; stocks will remain in focus.
Daily trend of FII/MF investment in equities
The FIIs have sold Indian stocks worth a net of Rs 832.59 crore on April 28, 2011 as compared to the net sell of Rs711.86 crore on April 27, 2011. The domestic investors have bought Indian shares worth a net of Rs 532 crore on April 28, 2011 vrs 299 cr the day before....
Global signals
The European markets rose on Thursday (April 28, 2011) to an eight-week closing high, boosted by strong results from some companies including Suez Environnement and on hopes that the US central bank will support the economy.
The Dow Jones transports closed at an all-time high on Thursday, leading the US markets higher and signaling more gains due to its role as a touchstone of economic demand.
The Asian markets were trading lower on Friday (April 29, 2011). Japanese markets are shut for a public holiday.
Commodity cues
Crude oil prices rose on Thursday to hit a 31-month high settlement after a volatile trading session that saw a weak dollar attract investors seeking alternative assets.
trend decider for the day : 5790
