Market may continue the weak trend

Thebullishtrends: BSE Sensex closed yesterday with a loss of 523.67 points at 18,139.49 points. U.S Stock markets closed with losses on the third trading session of this week. U.S Federal officials expressed the doubt about the future rate cut which pushed the stocks into losses yesterday. Asian Markets opened before Indian markets are trading in a weak note. Hang Seng(Hong Kong Markets) lost more than 1339 points. But Nikkei marginal gained today. Most of the Asian markets were closed today and tomorrow on the occassion of Lunar New Year Holiday. The participation from FIIs were very weak they were the net sellers yesterday of Rs.2,086 crores Though Corporate earnings are good the market trend will depend on the Relianc Power refunds, registar have already started to send the refunds and market sources are expecting this will help the liquidity in the market in near term. But today market trend will continue in a weak note.(Ms.Meghana Nair-Equity Desk) 9.48AM/07.02.2008