INDIAN BENCHMARKS open on a flat note on the back of subdued global cues. Cairn India board approves a mega buyback plan, to spend close to a billion dollars to buyback over 8.9 percent stake through open market purchases.
FUTHER, Govt may cut planned expenditure by Rs 80000cr or about 15 percent of the budgeted amount in the current fiscal to contain fiscal deficit within the redline drawn by Finance Minister P Chidambaram.
Trend in FII flows: The FIIs were net sellers of Rs 339cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 356cr, as per the provisional figures released by the NSE.
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