With risk appetite on the wane, investors are not really attempting to take any chances. Flight-to-safety seems to be the order of the day but the political strife in West Asia does not really make any place safe. Even as the pro-democracy wave rages, investors are now wondering what next after Libya?
Back to our bourses, the start today is set to be down but given the resilience being exhibited by some Asian markets, we could hope for some rebound later. The F&O expiry, geopolitical concerns and the Budget will ensure that caution reigns supreme. We expect the Nifty to perhaps retest the 5330 levels in the short term.
Airlines and oil & gas companies will be in focus due to the spike in crude. There is also talk of another fuel price hike but that will take some weeks at least.
ABB, Alfa Laval, Bata India, Gujarat Pipavav and SKF India will announce their results today.
Ranbaxy will be in focus after its Q4 results.
