Pri Market Commentary ...

Today,indices could see a dead-cat bounce, tracking gains across global markets and drop in oil prices. However, stability will only return if there are any major triggers like a sharp fall in oil prices and revival in monsoon. Yet again, the latest move by YV Reddy surprised the markets, which were looking for RBI to maintain a status quo on interest rates. This will raise general interest rates in economy and will lead to a slowdown in investment and demand. The Governor also lowered his economy forecast to 8% from 8-8.5% pegged at the start of the financial year.

We expect the market to remain weak in the near term.
The market may turn volatile after a good start ahead of tomorrow's F&O expiry.