The main indices seem to be facing challenges after having overcome chief levels lately. Generally, the market is in a consolidation form after a firm rally. The same goes for international markets, where main indices are showing some cues of weakness after reaching new highs. Another watchful beginning is likely on Thursday. According to the guarded approach all over the world, the market is not likely to make much movement. A range bound and uneven manner of trend is expected to follow.
In the cash section, FIIs remained net sellers of Rs.6.9bn on Wednesday on an interim basis, whereas the local finances also registered Rs.239mn. The foreign finances remained net sellers at Rs.2.24bn in the F&O section. The foreign finances remained net purchasers of Rs.2.08bn in the cash section on Tuesday. Their net purchases of domestic stocks have gone beyond $7.6bn year-to-date. On Tuesday, Mutual Funds remained net purchasers of Rs.254mn.