Calm start, rocky end!

Life wouldn't be worth living if I worried over the future as well as the present - W. S. Maugham.

We really have no choice but to worry about the future as well as the present. We expect calm in the local markets at least at start today, as most participants would have utilized the Republic Day holiday to mull over the latest RBI move. Since the central bank’s action was in line with consensus estimates and there weren’t any nasty surprises, the markets could retrieve some of the lost ground. The F&O expiry today might just lead to some intraday gyrations, especially towards the close of trade.



One needs to be a little bit careful amid continuing uncertainty over the near-term prospects for the Indian markets. While interest rates are set to harden further and could pose a challenge for the Indian economy, all eyes are on whether there will be any softening in inflation.

Despite strong global markets, especially in the US, the Nifty has been struggling to surpass 5800. Any recovery could be short-lived unless the Nifty sustains above 5850.

Globally, the Dow flirted with 12,000. Wall Street gained after the Fed left rates and its QE2 programme unchanged. European markets advanced as well. Asian markets are not doing a whole lot this morning.

Arvind, HDFC Bank, Dena Bank, FT, IRB Infra, JSW Steel, Kansai Nerolac, Marico, Neyveli Lignite, Lupin, Jain Irrigation, NHPC, SpiceJet, Thermax, TTML and Tata Chemicals are among the leading companies declaring their results today.

FIIs were net buyers of Rs 2.73bn in the cash segment on Tuesday, according to the provisional NSE data. The domestic institutional institutions were net sellers at Rs 1.69bn. FIIs were net buyers of Rs 19.98bn in the F&O segment. The foreign funds were net buyers of Rs 1.95bn in the cash segment on Monday, according to the SEBI web site.

Shares of Dalmia Bharat Enterprises Ltd. will get listed today pursuant to a Scheme of Arrangement.

Mid Valley Entertainment Ltd. shares will make their debut today after the IPO was subscribed 4 times. The issue price has been fixed at Rs 70 a share.