Market is likely to open on a negetive note, taking cues from global market. U.S. stocks fell on Wednesday, led by financials in a late-stage sell-off, after the Federal Reserve gave a more pessimistic view on the economy, tempering hopes for a quick recovery. European shares ended higher on Wednesday in a choppy session, extending a winning streak to five days, with commodity stocks the major gainers as the price of crude oil and metals rose. Asian stocks are currently trading low, dragging the MSCI Asia Pacific Index from a seven-month high, as the stronger yen diminished earnings prospects in Japan and the U.S. Federal Reserve projected a deeper recession.
According to provisional data on NSE, foreign funds stocks sold worth a net Rs. 985.53 crore on Wednesday, 20 May 2009. Domestic funds bought shares worth a net Rs. 4.99 crore on that day.
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