Weak start; indices set to swing - IIFL

Looks like SP leader Mulayam Singh Yadav is very keen on his goal of making it bigger in the next elections. While the Congress and BJP chose to ignore the SP leader's talk of a third front for a national alternative, the market felt the jitters and tumbled despite healthy global cues.

The start is set to be weak today given the way the world is reacting to the Cyprus bailout plan. Expect some swings as the markets are closed on Wednesday on account of Holi and Thursday is the F&O expiry. The worry globally is that Cyprus's bank-restructuring plan may be used as a 'template' for other nations. Cyprus' banks will remain closed till Thursday.

Little wonder that banks in Europe and US are seeing price erosion in the market. Japanese shares regained as the new Bank of Japan Governor Haruhiko Kuroda said he'll consider extending bond maturities. Asian stocks remain weak with Australia's S&P/ASX 200 down 0.7%; Taiwan's Taiex Index flat and Singapore's Straits Times Index marginally higher. Hang Seng is down 0.6% while Shanghai Composite has fallen over 1.5%.

Source : Equity Bulls

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