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28 March 2010

BSE Sensex to tread water; Bharti Airtel watched

The BSE Sensex should see resistance on Monday after registering seven straight weekly gains, with mixed Asia markets providing little clear direction. Bharti Airtel will be in focus after Zain chairman said over the weekend the Indian mobile operator's plan to buy most of the African assets of the Kuwaiti firm could take months to close. Top utility vehicle and tractor maker Mahindra and Mahindra will be watched after the Economic Times reported on Saturday the company was likely to freeze investments in its joint venture with French carmaker Renault. The MSCI's measure of Asian markets other than Japan was up 0.5 percent by 0259 GMT, while Japan's Nikkei dropped 0.5 percent. The Nifty India stock futures in Singapore were down 0.1 percent. The 30-share BSE index rose 0.4 percent last week to 17,644.76 points, taking gains over seven consecutive weeks to nearly 11 percent.

source: in.reuters.com/article/businessNews/idINIndia-47284120100329

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