Market is likely to see a gap down opening taking cues from the global markets. U.S. stocks tumbled on Wednesday as a gloomy retail sales report revived recent anxiety about the economy's struggle and caused a broad sell-off that accelerated late in the session. European shares fell for the third straight session on Wednesday, pulled down mainly by financials and miners while defensive sectors such as food and pharma eked out gains. Asian stocks fell as an unexpected drop in U.S. retail sales and a decline in commodity prices dimmed the earnings outlook for electronics and metals producers. Infaltion is to be announced today.
Accroding to the Reuters Poll, Inflation Rate is expected at 0.3% for the week ended May 02 ‘09
According to provisional data on NSE, foreign funds bought stocks worth a net Rs. 4106.96 crore on Wednesday , 13 May 2009. Domestic funds bought shares worth a net Rs. 105.73 crore yesterday.
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