Monday, December 22, 2008

Pri Market Commentary ..

Today,we expect the bulls to maintain their hold on the market for a while before a fresh round of selling hits world markets. Volatility may inch higher ahead of Wednesday's F&O expiry (a day earlier due to Christmas holiday on Thursday).Keep an eye on the political front with general elections lined up for April-May. Global trends and news will of course have a major bearing on the market's near-term as well as long-term direction. There is always a possibility of some NAV prop-up which could drive select stocks higher; that may happen next week.


The bulls too have been more or less back in business over the past couple of weeks. They will hope to be at peace during the Christmas week. But Asian markets are pretty mixed this morning. US stock benchmarks too ended mixed on Friday while European markets declined marginally. The start today may be flat at best. Wild swings will be the order of this week due to derivative settlement and lower volume.


US market may also turn more volatile as many market participants may choose to extend their Christmas holidays. US markets will close early on Wednesday and will remain closed on Thursday. Financial markets across the globe may witness less trading activity this week. The Indian markets too will remain shut on Thursday.



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