Market may extend gains on likely stimulus package

[simantha roger]

 

Dear Friends,

 

The market may extend Thursday (4 December 2008) solid gains on expectations of a stimulus package from the government and the Reserve Bank of India (RBI). However, Indo-Pak tension after the major terror strikes in Mumbai last week, will cap the upside.

The BSE Sensex rose 5.5% on Thursday to its highest close in more than two weeks as expectations for an interest rate cut received a boost from slower-than-expected rise in inflation. As per the provisional data released by the stock exchanges, foreign funds bought shares worth a net Rs 307.14 crore and domestic funds purchases shares worth a net Rs 79.24 crore on Thursday.

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