Opening Note: Markets may see a good start
Tuesday, June 30, 2009 9:40 amThe main indices will begin on a positive note with other progressive Asian markets. Although, early gains promise a good day, pre-budget scenario keeps everyone watchful. The Financial Survey will be brought forth in parliament on 2nd July, whereas the Railway Budget will be declared on 3rd July.
US stocks rallied suddenly in the middle of prospect that key reports on joblessness and manufacturing will illustrate additional signs of enhancement in financial conditions.
In the cash section, FIIs remained net buyers on Monday at Rs.2.92bn, whereas the local institutions registered Rs.1.44bn. The foreign finances remained net sellers at Rs.693.6mn in the F&O section. In the cash section, FIIs remained net buyers at Rs.6.73bn and Mutual Funds remained net buyers of Rs3.7bn on Friday.
Gammon India, Gujarat State Petronet, Adlabs, Bombay Dyeing, EIH, Electrosteel, FT, Hindalco and Ispat Industries will declare their results on Tuesday.