PSUs likely to boost market this week
Mumbai: Interest in state-run companies is likely to boost the market this week and may signal the end of its bear phase but sentiment will likely remain weak for technology stocks, analysts said.Investors are seen attracted to state companies on hopes the government may revive its decades-old privatisation drive but low interest in hi-tech shares will likely see the market stay flat.

"A big trigger like privatisation will do wonders to the market," said Vipul Dalal, the chief operating officer at brokerage ILFS Investmart India. The main Mumbai share index fell 0.56 per cent in the past week, to end at 2,950 points, its lowest close since April 28. The marker is down 12.7 per cent this year, making it among the worst performers in the world.
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Japan stocks likely to move higher
Tokyo: Japanese stocks are likely to move higher this week on hopes the government will soon adopt measures to boost the market, but the sliding dollar is seen as a big risk to Honda Motor and shares of other exporters. The bourse will also benefit from the US Nasdaq index's two per cent jump on Friday following upbeat outlooks from graphics chip designer Nvidia and top semiconductor maker Intel. The Nikkei average is seen moving between 7,800 and 8,300 after climbing 3.1 per cent the previous week to a one-month high of 8,152.16, its best weekly performance so far this year.
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Wall St awaiting economic data this week
New York: US stock investors will be taking the US economy's pulse next week, searching for signs of a return to health and pondering prospects for corporate profits in the quarters ahead. As the flood of corporate earnings reports slows to a trickle, Wall Street will find itself pelted by a barrage of economic data, including reports on retail sales, industrial production and inflation at the producer and consumer levels. After a better-than-expected batch of first-quarter earnings, investors are now demanding proof that the economy is stabilising, said John Forelli, portfolio manager at Independence Investments LLC.
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Tech counters may rejoice on Intel Corpn's guidance
Mumbai: The domestic stock market looking more outwardly these days. According to a section of market players Intel Corporation's results and the sharp upward move of the Nasdaq Composite on Friday are likely to influence sentiment, at least for the tech sector counters, on Monday on Dalal Street. The first quarter results of Dell Computer are scheduled on Thursday. If it can better revenue growth, punters here could extend their bets on the local tech majors. Interestingly, Digital GlobalSoft's results are due on Monday. As the board meeting would take place in the US, the market would be able to react to the result on Tuesday. Digital's guidance and pronouncements on its proposed merger with Hewlett Packard's Indian subsidiary, would determine tech stock's outlook to an extent for the short-term. The BSE Sensex closed the week with a loss of 16.56 points or 0.56 per cent. The S&P CNX Nifty shed 0.05 per cent.
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Traders wait for RBI move on repo rates
Mumbai: Activity in the bond markets were dull during the week as traders were cautious awaiting signals from the Reserve Bank of India either in the form of a reduction in the repo rate or through the announcement of the price for bonds buy-back. "One of these events will trigger the bond markets," a trader said. But traders were wary on the kind of discounts that was likely to be accepted by the Government. In fact, the Government had already indicated that they would accept the highest discounts to market price as the cut-off price for the buy-back. "Whatever be the cut-off price, it is unlikely to deviate from 100 basis points over current market prices," the trader said. But this uncertainty has bankers on tenterhooks. As a result, the ten-year yield to maturity (YTM) remained ranged at 5.90 per cent last weekend, unchanged from the previous week, though it had hardened to 5.94 per cent towards the beginning of the week.
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