Opening Bell: Markets likely to see some consolidation after three straight days of gain. The Indian markets extended their jubilation in the last trading session, making it a hat-trick of positive ending. Rupee after initial volatility strengthened on government and RBI measures and helped the equity markets to move higher. Today, the start is likely to be flat-to-positive as the regional markets are trading flat, though traders will be watching the reaction on the gold and jewellary stocks after the Government raised import duty on precious metals gold and silver to 10 percent. This is the third time since January that import duty on gold has been hiked. However, there will be some sign of relief on the PSU oil marketing companies after international crude started showing some decline after surging in last three sessions. There will be some result specific reactions, especially in the steel sector stocks after Tata Steel beating the street, posted a 90% year-on-year rise in net profit for the first quarter at Rs 1,142.33 crore.
Posted on: Wed, 14 Aug 2013 03:33:13 +0000
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