The market mood is just a bit sour partly because of what happened yesterday and partly because the global markets are not giving it a leg up.

This morning, Wipro's results were very good and that should lift sentiment. In the near term after having run up so much, our markets might just track the global markets.

So markets may start flattish, maybe with a little bit of softness and then hold 50-60 or 100 point range on the Sensex. People would be very surprised if markets go up to 13,000 today. So maybe it’s another day that one needs to pass quietly.

But it did not happen yesterday despite the cooling off. So hopefully today, people will start looking at midcaps and small caps, but we will have to wait for that.

Global cues:

Asian markets are looking a bit soft this morning. Nikkei is down about 145 points, Taiwan is down 1.3% and Straits Times down about 0.5% as well. So it has been 0.5-1% down in most of the Asian markets and emerging markets; there is a little bit of red on the screen as well.  So those are not a great set of cues. Locally, our own result cues seem very strong.