Opening Bell: Today, the start is likely to remain cautious in reaction to the macro data announced after the market hours on Friday. IIP and CPI data announced late in evening remained disappointing, index of industrial production for May fell 1.6 per cent, versus a growth of 2.3 per cent in April, while consumer price index inched up to 9.87 per cent in June, against 9.31 per cent in May. Now traders will be watching wholesale inflation data for further cues, while the inline Chinese second quarter GDP numbers may soothe some nerves. Traders will also be eyeing the movement of rupee, which strengthened in last session and investment activity by foreign institutional investors. There is some good news too, that may help recovery in latter trade of the markets, foreign direct investment (FDI) into India increased 25 percent year-on-year to $ 2.32 billion in April, the highest level in the past six months, while a survey by industry body CII has said that economic growth in the country may rebound from the next fiscal if government expedites its reform process. The PSU oil marketing companies will be in action after hiking the price of petrol by a steep Rs 1.55 a litre, without taxes. Upstream oil companies too will be buzzing with oil ministry exempting small, isolated fields from its gas utilisation and pricing policy. Read more at rsec.co.in/market-and-news/equity/market-outlook/daily
Posted on: Mon, 15 Jul 2013 04:00:28 +0000
Trending Topics
Recently Viewed Topics
© 2015