Pre Stock Market Commentary

The Indian Market is expected to have negative opening on weak global cues and sudden rise in crude trading above 120$.Inflation climbed to a fresh 16-year high of 12.63%, raising concerns that interest rates may be hiked further. Globally, the situation is even more worse, as experts feel that the worst of the sub-prime crisis is yet to unfold. On Thursday, the market witnessed a sharp fall during the trading and closed with heavy losses. The domestic market opened weak tracking cues from the global markets. Further market continued to lose ground ahead of inflation data.Rate sensitive realty and banking stocks plunged ahead of inflation data.Given all these factors, market experts expect another round of sell-off in the next few days.