Market to see profit booking this week
PRESS TRUST OF INDIA
New Delhi, Dec 9: After smart gains of the past two weeks, the stock market is likely to see some profit-booking this week amid investors tracking crucial data on inflation and industrial production, analysts said.
Besides, hopes of interest rate cut by the Reserve Bank will guide investor sentiment, they said.
Following the government's winning vote in Parliament on FDI in multi-brand retail, investors are now expecting further financial reforms.
"After gaining more than 4.5 per cent in last two weeks, the Sensex is likely to witness some profit-booking," said Rakesh Goyal, Vice President at Bonanza Portfolio.
"Buying is seen in almost all sectors which is positive for the coming sessions. However, economic data such as inflation and IIP (Index of Industrial Production) as well as probability of interest rate cuts by RBI this month shall have near term impact on market sentiment," he added.
Lastupdate on : Sun, 9 Dec 2012 21:30:00 Makkah time
Lastupdate on : Sun, 9 Dec 2012 18:30:00 GMT
Lastupdate on : Mon, 10 Dec 2012 00:00:00 IST
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