what could be seen as a positive news for the markets,news reports suggest that the Finance Minister Pranab Mukherjee will meet SEBI on Friday to discuss the disinvestment roadmap and also a proposal to raise the threshold for non-promoter public shareholding for all listed companies. As a part of the process the public issue of NHPC will be out in August and Oil India limited will follow on with its public offer in late September.
Metal stocks are likely to be in limelight as a positive outlook from Alcoa will boost the scrips of Hindalco, Tata Steel and Sterlite Ind which suffered losses for the past few days. Realty looks like another bright spot after the sectoral index lost more than 8 percent yesterday.Tech stocks might be flat to positive ahead of the Q1 numbers from Infosys on Friday. we expect a Infosys meet analyst expectation, but do not expect a big suprise from the company.
There are few buyers in the current market, as investors are apprehensive about taking long positions, on fears that the market might test March lows. We think that there is room for correction, but do not expect a sever crash in the market.Overall, a good day for the markets as we might recover some lost ground from yesterday.
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