MARKET TODAY
Market is likely to open flat to positive taking cues from the global markets. The Reserve Bank of India (RBI) cut its key lending rate for the sixth time in 7 months on Tuesday and pushed commercial banks to follow suit to bolster growth which has taken a bigger-than expected hit from the global downturn. SGX Nifty futures for April 2009 series traded in Singapore were down 2 points to 3366. However stock specefic activity will be high in companies that will be announcing their March 2009 quarterly results.
According to data released by the NSE, in the last session, FIIs were net buyers of index futures to the tune of Rs 57 crore and bought index options worth Rs 294.95 crore. They were net sellers of stock futures to the tune of Rs 103.59 crore while bought stock options worth Rs 29.15 crore.
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