G-20 meet infuses confidence

During the week foreign institutional investors FIIs invested Rs 285.4 crore in equities. Re-allocation of funds by FIIs and domestic institutional investors could be possible in the near future, adds Sundar.

The biggest gainers last week were Realty and Oil and Gas which surged by almost 9.8 per cent and 6.8 per cent respectively. The sectors that slipped into the red were Banks and FMCG,which declined by 0.1 per cent and 0.7 per cent respectively.

Inflation inched up a little from 0.27 per cent a week ago to 0.31 per cent for the week ended March 21. Oil price continued to surge for the second consecutive week. It rose almost 6.5 per cent during the week and is currently trading at 54.12 per barrel. The rupee displayed strength vis-à-vis the dollar and appreciated nearly 2 per cent during the period. It is currently trading at Rs 50.1 vis-à-vis the dollar.

Global triggers such as the G-20 summit could help revive the economy the world over,which could in turn translate into a revival of the stock markets. According to Sundar Q4 results are expected to be in line with Q3 results. Some good news can be expected from Q1FY10. The service sector is expected to slow down in Q4. The markets are likely to remain buoyant for a while and then we may witness a few rounds of correction.