Flat trend continued in the markets for the day with some negative bias & this is likely to slipover for Thursdays trade at lest for the first half of the day. The rollover figures on the F&O segment will give some indication on the near term market direction.

Sectorial Metals & Banks were the biggest losers. On the currency front we could see some strength in the INR against the USD till 3.30pm. We would advice buying in IT/Pharma & selective telecom & media/entertainment stocks from a long term perspective & this should be done when there is a correction in markets.

Sideways consolidation is likely to continue for the next week on the markets with the trend being on the down side. The only sliver lining could emerge from the earnings season which will unfold in Jan 2014.

Stock Market Research Report by Market Analysts at Geojit BNP Paribas Financial Services.