The L&T, Infosys and Satyam counters offer good arbitrage opportunities
It was another bearish week. From around 1060 at the beginning of the month, the Nifty shed around 30 points to close at around 1035, primarily because foreign institutional investors (FII) and domestic mutual funds remained net sellers throughout the week. Blame it on the scams in corporate America or on concerns over a delayed monsoon, the net result was that the market witnessed an unwinding of speculative positions.
Fortunately the market has witnessed a consolidation around Nifty 1035l and market watchers are optimistic at this level. Nifty futurse moved in tandem with the spot market. The near month Nifty future closed at 1036 last Friday and the August and September futures closed at 1042 and 1047 respectively.
Because of time decay, (it
