Pri Market Commentry !!

Today, we expect another weak opening as most Asian markets are sharply down following the lower finish on Wall Street on Friday. The trend may turn sideways and choppy later on as the US markets are shut today and investors may remain guarded prior to the derivative settlement and announcement of inflation and GDP numbers.

A weakening rupee and crude above $130 per barrel are major negatives for the market. Further monetary tightening is not ruled out if inflation remains stubbornly high. Political concerns following the BJP's victory in Karnataka and the Left front's repeated threats to the Government over its economic policies may also weigh down the sentiment. It’s time to be cautious and selective.