INDIAN BENCHMARKS are likely to open on positive note as all eyes will be on Infosys, as the IT bellwether will kick-start Q2 FY14 earnings season today. The street is expecting the company to up its guidance to the higher end of its earlier forecast of a six to 10 percent revenue growth. The stock saw a pre result rally on Thursday and all eyes today will be on the commentary on the several top level exits this quarter.
FUTHER, While earnings would be the main focus, India's economic data namely industrial output today and inflation prices on Monday are keenly awaited to find more bright spots in the economy after September trade data came in better than expected.
Trend in FII flows: The FIIs were net buyers of Rs 2294cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 1393cr, as per the provisional figures released by the NSE.
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