The market is likely to open on negative note taking cue from global markets. Asian market open on a mixed note. 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 ended lower for the second day in a row on Friday, further cooling a rally that has added a third to stock prices in the past ten weeks, as defensives and Swiss stocks weighed.
According to provisional data on NSE, foreign funds stocks sold worth a net Rs. 761.66 crore on Friday, 22 May 2009. Domestic funds bought shares worth a net Rs. 434.53 crore on that day.
Dr Manmohan Singh took over as the twenty-first Prime Minister of India. It was announced that Pranab Mukherjee was elected as the Finance Minister, while P Chidambaram would retain his position as the Home Minister. AK Antony has been appointed as the Defence Minister and Mamata Banerjee will take over as the Railway Minister. Sharad Pawar has been given the position of the Agriculture Minister, Food and Civil Supplies. SM Krishna is the new External
Affairs Minister.
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