Sell in May and go away? - IIFL

The month of May is here and historical evidence especially in US markets show that May to October period is relatively weak. Fortunately, this cycle is different in the first year following a US presidential election. So let's hope the markets can power ahead.

The start today is set to be weak following discouraging global cues. Investors will remain cautious ahead of the RBI policy meet tomorrow.

FMCG counters bolstered by foreign parent Unilever's $5.4bn offer to increase its stake in the Indian arm Hindustan Unilever, is remain in action. Other MNCs could see some gains as expectations of similar offers set in.

Retail stocks will be in focus after the Supreme Court on Wednesday upheld the government's proposal to allow FDI in retail. 'Customer is the king and if that is the philosophy working behind the policy then what is wrong' said a three judge bench.

Japan's Nikkei is down half a percent. South Korea's Kospi index slipped 0.4 percent and Taiwan's Taiex Index rose 0.1 percent. Hong Kong's Hang Seng and China's Shanghai Composite are down over half a percent.

Source : Equity Bulls

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