Correction Mood

Uncertainty in the market is likely to continue on the back of a strong intra-day volatility and weak Asian indices in the ongoing trades. ie market may face correction .There are reports of Sebi imposing an interim ban on several Dps, brokers and banks from carrying out activities in the stock market till further notice due to some irregularities in the recent IPO's may keep the investors jittery from taking any fresh positions. Among the banks HDFC Bank, Centurion Bank of Punjab, IDBI Bank and ING Vysya Bank have been asked not to open new demat accounts, while the listed Indiabull Securities has been barred from the securities market. Sebi has also asked Karvy and Pratik from carrying out DPand broking .