Global markets ended on an optimistic note on Thursday and cues are mildly positive today as well. However, after the long weekend we are likely to open flat as Reliance results, which came out after market hours on Thursday were somewhat disappointing. Also inflation continues to soar and cause concerns of further interest rate hikes. Yearly and the 4th quarter results are likely to determine the direction of the markets in the near term along with crude prices and inflation numbers. Market likely to open flat and volatility likely to increase going forward as we approach F & O expiry this week. On the whole we stay in a bull market and despite some margin pressure coming in due to rise in raw material costs and monetary tightening, relative out performance of our corporates and good inflow of investments from overseas players should ensure decent returns for investors in the next few quarters.
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