|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
Concerns about eurozone economy, slowing industrial growth, uncomfortable inflation level and political uncertainty hurt sentiment and prompted investors to either stay away on the sidelines or to indulge in some selling right through the week ended 22 March 2013.
Though the central bank cut the repo rate by 25 basis points, its hawkish view on the near term economic outlook hurt investor sentiment, and, as a result, the market suffered losses on all the five sessions last week.
With no significant positive triggers for now, the market may continue to lose ground in the coming week as well. And, the week being a truncated one due to holidays on Wednesday and Friday (27 & 29 March) for Holi and Good Friday, respectively, investors are unlikely to indulge in any big buying.
Due to expiry of near month contracts on Thursday (28 March), the market may remain a bit volatile at times. Some front line stocks may edge higher on short-covering ahead of derivatives expiry. But a sustained upmove is rather unlikely.
Some buying is likely in midcap and smallcap segments after recent heavy losses. Still, many stocks in these segments may struggle to force tbeir way back into the reckoning.
Friday's positive close on Wall Street amid slightly easing worries about Cyprus bailout, and some encouraging corporate news, could set up a somewhat steady start for Asian markets on Monday. The Indian bourse may track the trend and open high, but may well turn sluggish and stay that way for a major part of the truncated week.
Quarterly results will be the next major trigger for the market. Till then, stocks are likely to move in a tight band, with a few volatile spells here and there.