Brokers Outlook: Market expected to open positive on Monday

Anuj Anandwala, analyst, KJMC Capital Services, said that market had a extremely volatile session today (November 23), but closed on a strong note. Sensex was up 326 points at 18,853 and Nifty ended up 89 points at 5,608.

Realty, power and metal sector outperformed markets today. Three bomb-blasts at UP affected market only for few minutes, said Anuj. Overall, it was a troubled week for the markets. Pressure was there due to weak global markets, recession in US economy and Rupee Dollar issue. In this entire week selling was seen at higher levels pulling markets down.

He expects an upside opening on Monday as the government has sanctioned pension funds.

Since banking sector ended weak, some buying can be seen in them and movement would be there in fertilizer stocks. Markets are likely to trade above 19,000 on Monday, he added.

Rohit Mehta, Head Equities, Dimpi Investments, stated that after a pretty volatile session market closed firm. Realty and power stocks performed well at the bourses.

He says that overall market looks good and expects a positive opening on Monday but will continue to take cues from other global markets. Inflows are still strong, International markets are not much worried about recession in US and sub-prime crisis. There are no major outflows seen from domestic fund houses, which is a positive sign for the economy.

One can do value picking from FMCG and pharma sector and also from IT which has been battered down, he added.