MARKET OUTLOOK
The market is likely to open on a flat note & thereafter is likely to trade taking cue from the outcome of budget. The Budget is always a big event and this one is eagerly anticipated. The new government will present the 2009/10 budget today and is expected to expand both the budget deficit and its market borrowing requirement to support growth. Asian stocks declined as commodities prices and shipping rates dropped amid concern the global economic recovery will falter. U.S stocks tumbled on Thursday, driving the S&P 500 down to its third-straight weekly loss, as a steeper-than-expected slide in June non-farm payrolls revived caution about economic recovery prospects.
According to provisional data on NSE, foreign funds bought worth a net Rs. 210.82 crore on Friday, 03 July 2009. Domestic funds bought shares worth a net Rs. 298.58 crore on that day.
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