11 Feb, 2010

Indian equities finally recovered from their 3 week of losses during the previous week on some short covering and also due to recovery in the global markets.

International markets recovered on hopes that Greece would get support from Germany and other European nations to combat with its sovereign debt problems

On a week-on-week basis, the the Sensex rose 361 points or 2.3%, to close at 16152.59. The S&P CNX Nifty was up by 108 points or 2.3% to close at 4826.65 in the week

The broad sentiment remained weak on global concerns

Week Ahead : Markets sentiment is still not positive

Although, the market came back to the positive territory, the sentiment has still not turned positive significantly. Concerns still remain on whether the market can sustain the gains.

FIIs remained on the sell side many days during previous weeks. Despite Germanys comment that it would support Greece to fight out its debt problem, concerns on the extent of support remain

The previous week remained a holiday-shortened week and the IIP data on Friday would also provide some direction to the market

The start of the week would depend on the global markets performance If Nifty remains above 4850, we may see some further upward movement and on the downside support will probably be around 4700 and 4650