INDIAN BENCHMARKS are likely to open soft following muted trend in other Asian markets ahead of the U.S. Federal Reserve's two-day policy meeting and RBI monetary policy. It difficult for the market to open on a positive note after ending flat yesterday erasing early gains as sentiments got dampened on worries the disappointing WPI inflation is likely to make the central bank’s job of balancing growth and inflation.
FUTHER, Pharma stocks may be under pressure as US FDA tightens regulatory noose on Indian drug firms. Some moment is expected in stocks of Reliance Industries ahead of latest D-55 gas discovery, two-kilometers below the currently producing fields in the eastern offshore KG-D6 block, may span about 60 square kilometers.
Trend in FII flows: The FIIs were net buyers of Rs. 2829.31cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1457.48cr, as per the provisional figures released by the NSE.
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