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Stocks on Dalal Street are poised to open flat to lower after the indices cracked in the final hour of the trade on Friday, losing nearly 2 percent. Expect the benchmark index or the Sensex to reverse the negative trend and end up with minor gains by the end of the day.
The latest data compiled by SEBI raises hopes that the FII's will continue to invest in the Indian markets, even in a falling market. Foreign institutional investors have made a net investment of Rs3,500 crore in the Indian stock markets since the presentation of the Budget in Parliament on 6 July, even as the Sensex lost nearly 10% over the same period.
Realty, and Metal stocks were worst hit last week, as the sectoral indices suffered a double digit loss for the week. Hindalco and Tata Steel led the losers among the commodity stocks and the trend is likely to continue. ADAG stocks like Reliance Infra and Reliance Communications (Rs 242) look week in the near term