International rally is likely to wipe off on local sentiment on Friday. However, initial profits are not likely to sustain as ambiguity still exists over a spate of main events such as the budget and earnings. It’s not advisable to take excessive risks at this point in time.
Nevertheless, it wouldn’t be wise to walk away from the market totally, as there is not anything to worry about. The average to long term viewpoint for the country is heartening.
Gujarat State Petronet, Jai Corp., Max India, BEML, Deccan Chronicle, Glenmark Pharma, SpiceJet, Tata Motors, TVS Motor and Zee Entertainment will announce their results today.
In the cash section, FIIs remained net sellers on Thursday at Rs.14.83bn, whereas the local institutions registered Rs.11.18bn. The foreign funds remained net sellers at Rs.14.17bn in the F&O section. In the cash section, FIIs remained net sellers at Rs.6.01bn and Mutual Funds remained net buyers of Rs.3.89bn on Wednesday.