Today,the key indices could turn choppy after a slightly positive start. Volatility could be higher ahead of F&O expiry. Stock specific and sector centric action remains the order of the day. Satyam will remain in the limelight as the new board has appointed advisors in its desperate search for a strategic suitor. There is also the possibility that the final bidder could get waiver from SEBI on mandatory open offer. Despite the RBI’s inaction on interest rates, the market managed to post solid gains. This was largely due to firm trend across global markets.
The snow may start melting though as Tuesday’s momentum may not continue today.On the global front, the Federal Reserve will make an announcement later today after its two-day meeting. There is not much it can do as interest rates have already been reduced to zero. But, what the FOMC says will be keenly followed. Meanwhile, the UK government has thrown in a lifeline for its ailing auto sector. In the US, the Obama regime is pulling out all stops to push through its ambitious stimulus package. Its clearance may provide some fillip, though it may not have a lasting impact on the markets.
Bulls would wish to carry the momentum to the next trading session. However, trading might turn more volatile ahead of Thursday’s F&O expiry.
