During last week trade, equity markets had reacted to news from the global markets. Dealers in the markets say that, after inflation slipping below 1%, there are some hope from the central bank that, they might be some cut SLR and CRR rates soon. However, weak closing of US markets on Friday might have also have some negative impact on Indian markets when it opens on Monday.
Benchmark indices had last week closed with some smart gains on the back of strong cues from the global markets with over 2% increase in both the exchanges. On Friday last trading day of previous week, the 30-share Sensex of Bombay Stock Exchange (BSE) lost 35.07 points or 0.039% and closed the day at 8,966.68 points, while S&P CNX Nifty of National Stock Exchange (NSE) ended at 2,807.05.
An analyst from the leading broking house said, Despite witnessing some upward rally in the markets during last week, there are strong chances that, markets would hit new lows before the election time as there are fears of huge uncertainty of the outcome of results.
With gross domestic product data from US and UK expected next week, markets are also likely to follow the global markets events.
However, dealers also added that, Banking and Realty sector will remain in the limelight as it was during last week. During the last week trades, Realty sector outperformed the benchmark indices and gained over 145 points or 10.47% to close the at 1,556.02 points on Friday at BSE Sectoral indices.
Stock of Akruti city had seen some unimaginable boost in the past few trading session, however on Friday it got crashed by over 27%. This week, with expiry of contracts we have tow witness how it performs in the coming week, said a dealer from the leading broking house.