Pre Market Commentary ...

The motormen’ strike may have thrown Mumbai out of gear but the bulls are set to chug ahead. The engine of course is strong global cues. US stocks rallied on the back of positive economic reports. Multi-billion-dollar M&As are back, which can be taken as a good tiding as well. Europe too recovered from the Greek woes. Asian markets are mostly up, though Chinese markets are down following last week’s monetary tightening.

Volume may be hit due to the railway motormen’s strike. Suddenly, thousands of opportunities may appear to come your way but make sure you don't get carried away. Tuesdays are often infamous to start one way and end the other way. Despite the positive outlook for the day, the overall prospects appear to be rather murky in the near term. The key indices have been choppy and rangebound for several weeks and that trend may not change for some time to come. Jindal Steel and Syndicate Bank will announce their results today.

Meanwhile, the Greek storm has subsided, at least for now. Hopefully, the massive EU-IMF bailout over three years will help Greece take a deeper look at what went wrong. For the time being though, the rescue has soothed frayed nerves over a possible sovereign default. Still, some worries persist over the health of the other members of the PIIGS nations. The Greece issue also shows how the stimulus-driven efforts to tame the recession can boomerang. Moral of the story, heavy deficit-ridden government balance sheets need urgent repairs.