Rupee
strengthened again yesterday to close below the 52 mark as strong
inflows of foreign funds continue into debt instruments.Indian
Government finally allowed 100% FDI in single brand retail.This would
help INR to strengthen further in the near term.Reliance and Bharti
which were down on Monday were up by 4% and 3% respectively.Only 3
stocks ended in red in the Nifty 50 stocks.
Industrial Production data of France which came just before the EU open surprised positively and the EU indices rallied for the day.US markets ended up for the day too.
Indian IIP data and the inflation data to be released tomorrow.INFY and HDFC kick start the earning season tomorrow.
INFY's guidance could set the tone for the entire results season as it did happen in the Q1 Infy results.Rupee hedging could have played spoil sport in the earnings.HDFC posted a good set of numbers in Q2 and the loan growth was higher than the industry average.As the RBI went on a rate hike spree in the last quarter it would be interesting to watch the results of HDFC and it could set the tone for the entire banking sector.
Slowing economy and huge debt could land the EU nations into more trouble and nations like Italy and few other nations would be downgraded in this month, said Fitch ratings yesterday.Italy currently holds A+ rating and it was placed on Credit watch negative in the month of December along with nations like Spain, Belgium, the Irish Republic, Slovenia and Cyprus.
I expect markets to open flat to positive tracking the Asian peers and the second half may see some volatility ahead of the big day tomorrow.
Alex sir's view on Nifty for the day.
Resistances for the day are at 4865,4878 and 4885. It would face tough resistance to cross these levels for the day. Supports are at 4845 and 4825.
Industrial Production data of France which came just before the EU open surprised positively and the EU indices rallied for the day.US markets ended up for the day too.
Indian IIP data and the inflation data to be released tomorrow.INFY and HDFC kick start the earning season tomorrow.
INFY's guidance could set the tone for the entire results season as it did happen in the Q1 Infy results.Rupee hedging could have played spoil sport in the earnings.HDFC posted a good set of numbers in Q2 and the loan growth was higher than the industry average.As the RBI went on a rate hike spree in the last quarter it would be interesting to watch the results of HDFC and it could set the tone for the entire banking sector.
Slowing economy and huge debt could land the EU nations into more trouble and nations like Italy and few other nations would be downgraded in this month, said Fitch ratings yesterday.Italy currently holds A+ rating and it was placed on Credit watch negative in the month of December along with nations like Spain, Belgium, the Irish Republic, Slovenia and Cyprus.
I expect markets to open flat to positive tracking the Asian peers and the second half may see some volatility ahead of the big day tomorrow.
Alex sir's view on Nifty for the day.
Resistances for the day are at 4865,4878 and 4885. It would face tough resistance to cross these levels for the day. Supports are at 4845 and 4825.
