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Saturday, October 06, 2007

Be ready on Monday to see uplift in Indian Markets on Strong US job Data

US stock markets shot up in opening trades on Friday, 5 October 2007 after government data showed the economy added more jobs than expected in September 2007, easing worries about the outlook for growth and profits. The US Labor Department said the economy added 110,000 jobs. This would uplift the sentiments in Indian markets as well, and I am expecting a surge in stocks on Monday.

Indian markets may also see an upside in the coming sessions, with stock-specific action based on corporate results. Although certain amount of profit booking cannot be ruled out.

Factors that would predict market trend in the coming weeks include -
  • Quarterly results from Infosys
  • The board meeting of DLF to consider overseas acqusitions and raising funds offshore on Thursday, 11 October 2007.
  • Quarterly results from HDFC Bank and
  • Reliance Industries annual shareholder meeting on Friday, 12 October 2007.



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