Today, the market is likely to open on a cautious note as the global cues are not that great. US stocks closed lower despite the stress tests results being better than expected. European indices too decline and most Asian markets are flat to slightly negative. The overall trend today will remain sideways with a slightly negative bias. Global markets will continue to have a bearing on the sentiment at start while we await the election results.
With the results of the US banks’ stress tests over, the market will now be focusing on the outcome of the Lok Sabha elections. The counting is slated for May 16. It is tough to take any call on which alliance will form the next Government. Most parties will decide the course of action post the results. A slew of regional parties will hold the key to determining which coalition wins the race to parliament. Till then there will be a lot of uncertainty and media conjecture.
