Strategy Weekly: Back near record highs

Weekly — Mar 1

Consolidation set in last week as investors contemplated the approach to the historical record high daily close of 1204 points. The flattish weekly performance may have obscured the substantial resurgence in foreign net selling after several weeks of positive net FINI flows. We suspect the market will continue to consolidate in the immediate futuire, but the domestic-driven liquidity rally should resume going forward