Baazar talk and Market Whisper 25/10

Wednesday, October 24, 2007 | | |

Market as expected zig zagged jig sawed and finally enterd the positive phase.Stock specific action was seen all over.Federal bank rights issue is going to be priced between 140-180 and going to be the best investment stock for all.Market is flooded with rumours of bonus from Reliance Capital& LT.Good results from LIC housing,Bank of Maharashtra,India Cements has boosted the midcap sentiment as well.
But Foreign institutional investors (FIIs) remained net sellers in equities worth Rs 12,103 million (USD 300 million) on October 23. They bought equity worth Rs 55,809 million and sold equity worth Rs 67,912 million. Till October 23, they have been net buyers in equities to the tune of Rs 195,184 million (USD 4,791.3 million).
Market will depend on the outcome of the Sebi meet on P-Notes tomorrow. Investors are eagerly looking forward to it. However, in a bull market all news is considered good news, which might pull the market up substantially in the next trading session.