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FIIs and Q4 Results to impact on markets next week

Written by: Staff

Mumbai, Apr 15 (UNI) Some negative news have gathered for the markets to open cautious next Monday, besides 352.21 point fall in a volatile trading last week.

The foreign institutional investors(FIIs) on a selling spree during the last three trading session will dampen market sentiments.

On Wednesday alone, the FIIs were net sellers by Rs 734.80 crore and the total outflow in the last three trading sessions reached Rs 1,583.60 crore.

The positive news for the market will be the impressive quarterly results by software major Infosys and Associated Cement Company(ACC).

Infosys announced Rs 673 crore profit in the last quarter ended on March 31,2006 which showed more than 20 per cent growth in profit on quarterly basis.

Moreover, the company registered more than 30 per cent profit at Rs 2,458 crore during the last financial year which will boost markets when it opens on Monday.

ACC which announced quarterly results on Wednesday too registered 42 per cent growth in profit in the quarter ended on March 31 at Rs 235 crore.

Both these results are likely to keep markets in good spirit on Monday morning.

There are some important fourth quarter(Q4) results of Tata Consultancy Service, Reliance Energy etc. coming up next week which will further decide the direction of the market.

On the interantional level the soaring crude oil prices around USD 69-70 per barrel will also impact markets on day to day basis along with the performance of the other global market indices.

The bomb blasts in New Delhi's Jama Masjid and Shrinagar on Friday will also keep the sentiments down.


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