MARKET OUTLOOK

The market is likely to open on a negative note taking cues from global markets. Asian stocks declined, dragging the MSCI Asia Pacific Index from an eight-month high, on concern a rally since March had overvalued earnings prospects. In US, The Dow moved into positive territory for the year for the first time since early January on Friday, lifted by defensive sectors like pharmaceuticals while a disappointing outlook from National Semiconductor weighed on technology stocks.

According to provisional data on NSE, foreign funds bought worth a net Rs. 469.35 crore on Friday, 12 June 2009. Domestic funds sold shares worth a net Rs. 250.71 crore on that day.