The market is likely to open sideways with negative bias. However, volatility may remain high ahead of the expiry of May 2009 futures and options (F&O) contract today. Asian stocks fell, led by banks and mining companies, after Australia & New Zealand Banking Group Ltd. sold shares and metal prices declined. U.S. stocks dropped on Wednesday as rising yields on U.S. government debt fueled concern that businesses and consumers could face higher borrowing costs, which could hamper an economic recovery.
According to provisional data on NSE, foreign funds bought sold worth a net Rs. 369.80 crore on Wednesday, 27 May 2009. Domestic funds bought shares worth a net Rs. 685.64 crore on that day.
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