Below 5350 Nifty weak
Indian shares are expected to trade lower today after a tepid performance from Wall Street on Wednesday, and signs of a slow down in Chinese economy.Expect the benchmark index or the Sensex to trade in a band of 50 to 100 points with a downward bias.
The Chinese first-half GDP growth came in at 11.1%, slower than the 11.9% growth recorded in the first quarter. The CPI and PPI indices came in below expectations reaffirming the notion that things might slow down.
IT was the worst performing sector yesterday, while Consumer Goods stocks fared well. Metal stocks might be under pressure, thanks to the bad news from China.There were some fire works on Wednesday in the Midcap space even on a lacklustre day of trade. Gitanjali Gems, Agro Dutch Ind and Universal Cables are some of the stocks that look explosive for short term investors