Pre Market Outlook 2-Jun

The market is likely to open on a flat note with a positive bias taking cues from global markets. However profit booking after the recent sharp rally cannot be ruled out. Asian stocks rose after U.S. economic data added to signs the global recession is abating and General Motors Corp.’s bankruptcy raised optimism Asia’s automakers will gain market share. U.S. stocks rose on Monday, sending the S&P 500 to its highest close in seven months, as reassuring economic data reinforced hopes that demand will stabilize, while General Motors' long-expected bankruptcy filing ended uncertainty about the automaker's fate. Indian ADRs were also up.
According to provisional data on NSE, foreign funds bought worth a net Rs. 279.67 crore on Monday, 01 June 2009. Domestic funds sold shares worth a net Rs. 196.74 crore on that day.