>Market Insight (RELIGARE)

MARKET OUTLOOK

Dow closed in the positive but Asian markets are mixed. Our quarterly GDP numbers are likely to come out tomorrow, which will play a crucial role in determining the short-term trend of the market. Market expectation for GDP growth is 6.1% against 7.6% last quarter. We believe that our market is in the consolidation phase, but the situation globally continues to remain bad. We therefore continue to remain bearish on the market. For the day, we expect market to open flat to positive and expect some profit booking at higher levels.

• Dow : Negative
• Asia: Mixed
• Day’s view: Negative

To see full report: Market Insight 26-02-2009