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Monday, October 5, 2009

Cautiousness, uncertainty to prevail in markets this week

MUMBAI: Dalal Street is likely to witness some uncertainty this week, as investors
are expected to trade cautiously at higher levels and take
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guidance from IT major Infosys Technologies, which is scheduled to announce its second quarter results this Friday.

Analysts believe the market sentiment would remain positive but investors may exercise caution ahead of the second quarter results of corporate India, starting with Infosys Technologies.

"The market is expected to trade cautiously ahead of the earnings season and the second quarter results of IT giant Infosys Technologies on October 9, may decide the market movement," SMC Global vice-president Rajesh Jain said.

Stock market across the world are trading under pressure at higher levels and at this point of time some consolidation is expected coupled with selling pressure.

Over the week, the BSE Sensex gained 281.64 points, or nearly 1.67 per cent and closed at 17,134.55 points, thanks to strong Foreign Institutional inflow.

During the last week, foreign institutional investors have put in over Rs 4,820.8 crore into Indian equities.

s:ET

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