INDIAN BENCHMARKS is likely to take a breather after a roller-coaster week of surprise central bank announcements. Analysts expect a week of consolidation, with the broader markets moving in a range of one to two per cent. The rupee is expected to weaken this week owing to month-end dollar demand from importers and bond yields could rise further as the impact of the 25 basis points increase in the repo rate will linger.
FUTHER, BPCL may be under pressure as South Korean major LG Chemicals has backed out of the Rs 5,000 crore petrochemicals project which was being planned in Kochi. State-owned steel maker SAIL may react to its plan to invest around Rs 800 crore to develop Bhilwara iron ore mine in Rajasthan.
Trend in FII flows: The FIIs were net buyers of Rs. 5476.38cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1870.82cr, as per the provisional figures released by the NSE.
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