Get set for a weak beginning on the bourses as the key indices are set to fall due to weak global cues. Overall, the trend will remain sideways and rangebound. China has yet again raised the CRR to soften record lending and prevent asset bubbles. But the market in China, along with a few others like Japan are shut today.
As expected, Greece has managed to secure a larger bailout, though it is yet to be ratified. Make no mistake, this is not the end of the Europe debt crisis. The UK will hold general election later this week. The Goldman Sachs issue along with the Congressional debate on financial reforms will continue to cast a shadow over Wall Street.
Back home, it promises to be another action-packed week even as the market continues to struggle to break out of the current trading pattern. Reliance will be in focus as the Supreme Court is likely to deliver a verdict in the RIL-RNRL gas dispute. Auto and cement companies will be in action as they report monthly numbers. Oil marketing companies may also be in spotlight amid growing talk of price decontrol.
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