The market witnessed a turnaround of sorts after Mayawati announced that her party, the Bahujan Samaj Party's will vote in favour of the government. The Rajya Sabha is geared to vote on the government's decision to allow Foreign Direct Investment (FDI) in multi-brand retail today. With 244 members, the government may manage to barely scrape through. With 94 MPs and nine nominated MPs, the UPA is more or less assured of 103. It would have been 104 but Sachin Tendulkar is busy on the cricket field battling England. Mayawati's 15 MPs takes the total to 118. Samajwadi Party with 9 MPs may abstain.
The market is set to open on a positive note. Perhaps as the day proceeds the Nifty could flirt with the psychological levels of 6000. The levels of 5950 remain an immediate hurdle and above that indices could touch 6100 in the near term. Asian stocks are up this morning. South Korea’s Kospi Index and Japan’s Nikkei 225 Stock Average are in the green and so is the case with Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index.