Opening Bell: Markets to get a flat-to-positive start of crucial - TopicsExpress

Opening Bell: Markets to get a flat-to-positive start of crucial week. The Indian markets continued their soft spell and ended lower by another half a percent in last session. The rupee breaching the crucial level of 57 weighed on the sentiments, while there was not much on the positive front. Today tailing the global cues, the start of the crucial data heavy week is likely to be flat to positive, as the IIP data will be announced on Wednesday and WPI inflation will be announced on Friday. Though, traders will be eyeing the movement of rupee and the markets may see some pressure because of a weak rupee. Also there will be cautiousness due to FICCI’s survey, which has said that business confidence dropped for a consecutive quarter in January-March 2012-13, according to it the business confidence stood at 57.4 as compared to 61.2 during the previous quarter. Traders may get some support with President Pranab Mukherjee’s statement who has asked people not to panic by negative sentiments expressed in certain quarters. Telecom stocks are likely to be in action as it has been reported that government will conduct the third round of spectrum auction within 70 days of receiving approval from an Empowered Group of Ministers (EGoM) headed by Finance Minister P Chidambaram.