INDIAN BENCHMARKS rose yesterday led by gains in technology shares that were aided by a weak rupee and attractive short-term valuations due to the recent underperformance of the sector. Today market is likely to see a cautious day of trade, mirroring global sentiment which has been tepid. Investors will be counting on the Federal Reserve to launch only a modest scaling back of stimulus later in the day. Investor’s eye will also be on India’s Finance Minister P. Chidambaram speech at a conference, organized by ICRIER.
FUTHER, Tata Motors is likely to see an uptick after rating agency Moody's upgraded Jaguar Land Rover Automotive corporate rating from 'Ba3' to 'Ba2' on strong and fairly stable credit profile.
Trend in FII flows: The FIIs were net buyers of Rs. 2345.89cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 978.62cr, as per the provisional figures released by the NSE.
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