Opening Bell: Today, the start is likely to remain soft and traders will be eyeing the Industrial Production data along with the movement of rupee for further cues. Persistent dollar demand from importers and banks due to higher dollar in the international market has taken rupee near to the 59 mark, meanwhile with an aim to arrest rupee slide by boosting forex inflows, RBI has raised the limit for online repatriation of export proceeds by over three-fold to $10,000 and has made it mandatory for units in Special Economic Zones to repatriate full value of exports within 12 months. On the government’s part it will soon unveil measures to ensure safe financing of the current account deficit (CAD). IIP data for May too is eyed and with a sharp drop in PMI it is being expected that IIP may throw up unpleasant surprise. Auto sector stocks are likely to remain under pressure with car sales declining for the seventh straight month. Though amid all gloom prospect of good monsoon is likely to give some support to the traders. Read more at rsec.co.in/market-and-news/equity/market-outlook/daily
Posted on: Wed, 12 Jun 2013 04:00:35 +0000
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