Changing colours…green at start

The purest and most thoughtful minds are those which love colour the most. - John Ruskin.

Investors have been starting at the colour Red on their screen for some time now. Although the market appears to be in doldrums owing to a whole host of global problems the start today will be in the green. There could be some cooling later on though after FIIs turned out to be big sellers on Thursday. The latest RBI hike, sticky inflation and relentless political drama in New Delhi might weigh on the sentiment as well.



Asian markets continue to recover, as do other markets like the US and Europe after a concerted G7 action in the currency markets. The move, the first in a decade, comes after the yen soared to a record high against the dollar. As a result, the yen is down for the first time in six days.

An upbeat outlook from FedEx helped boost sentiment on Wall Street and elsewhere. But on the flip side, crude oil has rallied after the UN Security Council approved a ‘no-fly-zone’ for Libya even as violent clashes continued in Bahrain.

Gold futures settled above $1,400 an ounce in New York.

The short-term Nifty range continues to be 5400-5600. But it could surpass 200-DMA, provided the global situation improves.

FIIs were net sellers of Rs 11.28bn in the cash segment on Thursday, according to the provisional NSE data. The domestic institutional investors (DIIs) were net buyers at Rs 4.32bn on the same day. FIIs were net sellers at Rs 34.2mn in the F&O segment. The foreign funds were net sellers at Rs 1.24bn in the cash segment on Wednesday, as per final SEBI data. Mutual Funds were net buyers at Rs 2.87bn in the cash segment on the same day.

Wish you all a colourful weekend. Happy Holi.