Daily Market Strategy:- No quick fixes! After a bloodbath on the street, the indices are expected to open flat at start. The currency which fell to 61.80 to the dollar saw some recovery after the announcement of Raghuram Rajan as the next RBI governor. Rajan, credited for warning central bankers of an impending financial crisis way back in 2005, has made it clear that there is no magic wand to make the problems disappear instantaneously. But the market appears confident that he will deliver. This could trigger a recovery in the rupee. Reports suggest raising money from Indians abroad or pushing state‐run banks and companies to sell dollar debt are among the measures that could be anticipated. The finance ministry and the Reserve Bank of India (RBI) will discuss possible measures to manage the current situation. Tata Motors, Lupin, Omaxe, Tilaknagar Inds results will be in focus as they announce their numbers. Infosys is in focus for the wrong reasons. This time it is facing a class‐action lawsuit in the US for alleged racial discrimination in hiring. slinvestments.in
Posted on: Wed, 07 Aug 2013 04:22:02 +0000