Closing Bell: Today, the start is likely to remain cautious as the global cues are still weak. Some recovery can be expected in the late trade and traders will mainly be eyeing the movement of rupee, which has been on a free fall and touched the psychological level of 57 in last session, though the Finance Minister P Chidambaram has said that there is no cause for alarm and the currency will soon find its stable level. Markets are likely to get some support with Financial Services Secretary’s statement that domestic economy is likely to kick- start towards revival in the next 3 to 6 months as a large number of the 215 stalled projects are expected to start rolling. There is likely to be buzz in the retail business related stocks as the government has clarified rules for multi-brand retail entry and said that they will have to make fresh investments in back-end infrastructure and acquisition of supply chain or back-end assets from existing entities would not be allowed. There will be some buzz in the banking stocks too, after the Finance Minister asked banks to lower interest rates in an effort to drive growth and pass on rate-cut benefits to retail and corporate borrowers. Read more at rsec.co.in/market-and-news/equity/market-outlook/daily
Posted on: Fri, 07 Jun 2013 11:23:46 +0000
Recently Viewed Topics
© 2015