The market is likely to open on a flat note-taking cue from weak global markets. Volatility may remain high ahead of the expiry of May 2009 futures and options (F&O) contract on Thursday, 28 May 2009. However, comments from the new Finance Minister Pranab Mukherjee that political stability will be the spring board for India’s economic recovery may support the market at lower level. Asian stocks fell, led by technology companies and banks, as concern mounted that North Korea may step up missile tests and investors speculated a report will show the U.S. housing market is still contracting. U.S. stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground. European shares rose on Monday with Sanofi Aventis leading pharmaceuticals higher after winning a U.S. contract, and some analysts choosing to interpret a leading German economic
survey positively.
According to provisional data on NSE, foreign funds stocks bought worth a net
Rs. 427.97 crore on Monday, 25 May 2009. Domestic funds bought shares worth
a net Rs. 197.68 crore on that day.
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