INDIAN BENCHMARKS post the initial gap down move, witnessed profit taking yesterday. Banking, realty and infra stocks continued to witness profit taking while the technology pack managed to close in the positive territory. Today markets are likely to see a soft start on account of weak global cues on fears that the Fed could still begin scaling back its stimulus later this year.
FUTHER, MTNL may add on some gains on reports that BSNL and MTNL are likely to sign a pact that would allow the state-run companies to utilize each other’s network for providing pan-India mobile services. SBI may remain under pressure after Moody’s downgraded its rating for SBI's senior unsecured debt and local currency deposit from Baa2 to Baa3 due to increasing pressures on credit from the economic slowdown.
Trend in FII flows: The FIIs were net buyers of Rs. 2779.44cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1567.93cr, as per the provisional figures released by the NSE.
0 comments:
Post a Comment