After two trading sessions full of volatility and confusion, Investors are likely to return to Dalal Street which is all set to make a positive start on account of global cues.
Wall Street closed in the green on Friday with Dow Jones crossing the much awaited 11,000 levels.
RBI warns of intevention
Foreign institutional investors (FIIs) have pumped a record $21.3 billion into Indian equities so far this year, helping push the rupee to a 25-month high last week.
“If the inflows are lumpy and volatile or if they disrupt the macroeconomic situation, we will do so,” RBI governor said of intervention.
We expect RBI intervention at a later stage and for now do not see any issue with the inflows.
Fortis Healthcare - Hongkong acquisition
Fortis Global Healthcare Holdings Pte., controlled by billionaires Malvinder Mohan Singh and Shivinder Mohan Singh, agreed to buy units of Hong Kong-based Quality HealthCare Asia Ltd. for HK$1.5 billion ($193 million).
The purchase will give Fortis Global a network of more than 60 medical centers, at least 500 affiliated clinics and more than 40 dental and physiotherapy centers, the closely held company said in an e-mailed statement today.
Market today
We expect the market to show positive momentum but do not expect miracles. Also focus on midcap and smallcap stocks instead of index stocks. Many of our stocks are ripe for an upmove especially our Paid Technical Check picks.