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Stock mkt to drop this week before consolidating: experts

This article was posted on Sep 4, 2011 and is filed under Market News

The stock market is expected to drop before some consolidation this week as it looks towards global peers for cues and fresh triggers ahead of the Reserve Bank’s monetary policy review on September 16, analysts said.

“When the market opens for trade on Monday, it will see a downslide on the back of weak global cues. Also, this week is going to be a consolidation period as the market prepares itself for the upcoming RBI policy review on September 16,” Geojit BNP Paribas Financial Research Head Alex Mathews said.

Analysts also said that valuations were attractive for investors, although they remain concerned about high inflation and weak global markets.

Motilal Oswal Securities Associate VP, Parag Doctor said, “We expect the market rally to continue because most of the stocks in Banking, Auto, Tech, Real Estate are trading at attractive valuations. For more visit: Business Standard

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