Outlook remains positive

The market is likely to display positive trend as fund inflows into the domestic equities continues to remain robust and players are maintaining their high bets on almost all the sectors. However, the market is likely to witness cautious trend as the major Asian indices are exhibiting subdued trend in the ongoing trades.

Us indices posted modest gains on Monday, just missing new record highs, as investors remained cautious eyeing the upcoming earnings reports, which may call for a big slowdown. While the Dow Jones moved up by 38 points to close at 13650, the Nasdaq ended four points higher at 2670.

Indian floats also registered modest gains on the US bourses. Barring VSNL all closed in positive territory. Satyam led the upmove and surged 4%, Rediff added 3.48% and Infosys gained 3.15% . While HDFC Bank, MTNL, Dr Reddy's Lab, Wipro, Tata motors and ICICI BanK gained around 1% each. Global crude oil prices slipped marginally, with the Nymex light crude oil for August series fell by 62 cents at $72.19 per barrel. In the commodity space, the Comex gold for August delivery flared up $7.70 to settle at $662.50 a troy ounce.