Pre Market Report

Key benchmark indices are seen opening strong on the back of
positive Asian indices. The SGX Nifty futures for April 2009 expiry
surged 52.50 points in Singapore. However volatility may hit roof
with derivatives contracts for April 2009 series expiring today, 29
April 2009.

Aggregate results of 475 firms showed 3.6% fall in net profit on
4.5% rise in sales in Q4 March 2009 over Q4 March 2008.

Expiry of derivatives contracts today, 29 April 2009 may heighten
volatility on the bourses. As per reports, rollover of Nifty
positions from April 2009 series to May 2009 series stood at 61%
while those of stock futures were 54%, as on Tuesday, 28 April
2009.

Political uncertainty, with polling for India's 15th Lok Sabha
underway, may also prop volatility. The month-long parliamentary
elections that began on 16 April 2009 will conclude on 13 May 2009
with results due on 16 May 2009. Poll estimates point to a
fractured mandate.

Meanwhile, turnover on the bourses may take a hit with traders
refraining to take freh positions ahead of a long weekend. The
stock market will remain shut on Thursday, 30 April 2009 as voting
takes place in Mumbai for the parliamentary elections and also on
Friday, 1 May 2009 on account of Maharashtra Day.