MARKET TODAY
Key benchmark indices are likely to weak start as global cues continue to weigh on sentiment. Asian stock markets were trading weak with investors tracking cues from Wall Street, where stocks declined by notably margins on Friday amid concerns over the pace of economic recovery. The Reserve Bank of India on Friday hiked the Cash Reserve Ratio by 75 basis points to 5.75%, to absorb Rs.36,000 crore of excess liquidity from the system. Meanwhile, shares of auto, cement, steel firms will be in focus as the companies release monthly sales volume for January 2010.
According to data released by the NSE, in the last session, FIIs were net sellers of index futures to the tune of Rs 430.22 crore, while they bought index options worth Rs 1,029.76 crore. They were net sellers of stock futures to the tune of Rs 119.18 crore while bought stock options worth Rs 9.87 crore.
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