Seeking new highs!

Only as high as I reach can I grow, only as far as I seek can I go, only as much as I dream can I be. Karen Ravn.

Bulls seem to be doing festive shopping on the bourses and that too paying premium prices. Fears if any are being conveniently discounted as the key indices are within sniffing distance of all-time highs. Another bright start is in the offing and global cues are supportive. We see the Nifty testing new record high in the coming days with 6150 as a strong support.



The dollar appears doomed to some extent as the Fed is all set to flood the markets with more bucks. Weakness in the greenback is driving the rally across risky assets such as stocks and commodities. High-yielding currencies are also spurting, forcing some policymakers to intervene in the forex market. The RBI could also follow suit as the rupee is likely to climb on the back of strong foreign inflows into Coal India IPO.

Infosys results and inflation data are the key near-term events apart from developments in the world markets. Brace for some volatility and perhaps a course correction too next week.

Shares of Ashoka Buildcon Ltd., SEA TV Network Ltd. and Bedmutha Industries Ltd. will get listed today.

Results Today: Axis Bank, Infotech Enterprises, Kernex Micro, LIC Housing Finance, Mastek, Rallis India and UTV Software.

The FIIs were net buyers of Rs21bn in the cash segment on Wednesday (provisionally), according to the NSE web site. Local funds were net sellers of Rs13.54bn. In the F&O segment, the foreign funds were net sellers at Rs13.16bn. The FIIs were net buyers of Rs7bn in the cash segment on Tuesday, as per the SEBI web site. Mutual Funds were net sellers at Rs3.37bn on the same day.