Pre Market Outlook

Markets are likely to open on a positive note, taking ques from global markets. U.S. stocks rose on Wednesday after a private sector reading on the labor market signaled unemployment may be receding and leaked bank stress test results suggested most banks are healthier than thought. Asian stocks jumped on better-than- estimated U.S. and Australian jobs reports and an assurance from U.S. Treasury Secretary Timothy Geithner that none of the country’s biggest banks are insolvent. According to provisional data on NSE, foreign funds bought stocks worth a net Rs. 530.92 crore on Wednesday, 06 May 2009. Domestic funds sold shares worth a net Rs. 28.26 crore yesterday.