Markets still remain jittery

Dealers said with the third phase of voting slated for Wednesday, investors are again opting for caution. The polls apart, commodity stocks were battered on sustained concerns that Chinese demand may taper off following that country8217;s measures to cool its fast-growing economy.

It was not only the Indian markets which headed south. Most Asian markets hit a four-month low on Monday mainly on concerns over China8217;s plans to temper growth and a Federal Reserve meeting on Tuesday that could pave the way for a rise in US interest rates.

Market players seem to have adopted a wait and watch policy till the outcome of the election results and this will be the ongoing trend till we get to know which political alliance is at the helm. After pulling out Rs 332.30 crore on Thursday, FIIs resorted to limited buying to the tune of Rs 25.20 crore on Friday. Dealers said, the FII sales on Thursday also triggered nervousness in the market. Thursday8217;s FII sales number also happened to be the biggest sales made by FIIs in the month of April.