Lack of excitement

When I'm inspired, I get excited because I can't wait to see what I'll come up with next. - Dolly Parton.

Inspiration and excitement seem to have taken a break these days and investors will hope to shake off the weariness. But with global cues being uncertain, the start may once again be tepid. We do not rule out some pick-up in momentum as the day progresses. Much will hinge on how trading in Asia and Europe unfolds. As usual, companies due to announce earnings will remain in the spotlight.



The trading pendulum may swing either way depending on the results and the outlook. A close below 5800 could exacerbate selling in the near term. Hence we advocate caution, unless the Nifty sees a breakout above 5950 with supporting volumes and breadth. All eyes on the F&O expiry on Thursday. The street is divided and unsure as to how the key indices will behave in the immediate future. On the whole, it looks like the market will remain rangebound and choppy without any clear bias.

Meanwhile, corruption cases are back in the headlines with the arrests of some high-profile people. It may not have much impact on the overall sentiment of the market immediately.

US indices closed almost unchanged as investors are in ‘pause’ mode ahead of the Fed announcement and Bernanke conference later in the week. Gold and silver closed off session highs after hitting new record. US oil is also a little soft today.

European markets were closed due to Easter holidays. Asian markets are mostly in the red.

Results Today: ACC, Aditya Birla Chemicals, Ambuja Cements, Aventis Pharma, Blue Dart, Delta Corp., Gateway Distriparks, Kirloskar Brothers, Kirloskar Oil, Patni, Petronet LNG, Swaraj Engines, TTML, Tata Metaliks, Thomas Cook India, UltraTech and Wipro.

FIIs were net sellers of Rs 3.77bn in the cash segment on Monday, according to the provisional NSE data. The domestic institutional institutions (DIIs) were net buyers at Rs 2.36bn on the same day. In the F&O segment, the foreign funds were net sellers at Rs 5.54bn.

The foreign funds were net buyers of Rs 6.22bn on Thursday (April 21), as per the SEBI data. Mutual funds were net sellers at Rs 557mn on the same day.