Just when one was hoping that the “scam-tainted” 2010 would probably end on a happy note, comes another shocker. Citigroup has been hit by a fraud in its Gurgaon branch. It might not have a wider impact on the market sentiment but surely adds to the worries linked to the lack of governance.
As far as the market is concerned, the lackluster and rangebound pattern of December will continue. Traded volumes, which have been disappointing of late, could get some boost thanks to the F&O expiry on Thursday.
The broader market may fare a bit better than the Large Caps in the near term. But, be careful while dealing in illiquid and dodgy counters. Not too much should be made of the excruciatingly dull markets as movements are exaggerated either higher or lower. As the volatility ebbs, wide move of 100 points is expected on the breakout beyond 5970-6020.
