Dalal Street is likely to witness a gap opening today with higher chances of a decent close on positive Wall Street, followed by rally in Asian Markets on Wednesday.
News Bytes
* Merck ends pact with Ranbaxy
* NMDC gets green nod for Himachal limestone project
* Gitanjali Gems likely to close PE deal by Feb
* Indian Bank plans insurance foray
* Gujarat NRE sees floods raising coking coal demand
* Suzlon chairman says ‘no question’ of family exiting
* Dr Reddy’s to contest Pfizer’s patent suit
* Keep hiking rates to cool inflation: IMF
RBI - Rate hike Fears?
While stories in media suggest that RBI might hike rates again and markets are jittery on the same. We believe a rate hike in January is already factored in and do not expect a major hiccup in the short term. We expect a 25 bps hike in Interest rates.
Slow down in FII Inflows?
Analysts are expecting a slow down in the FII inflows in the new year. We expect a thumping number in the first quarter followed by a cool-off, only to pick up in the second half of the year.
Nifty - Takes support at 6070
Nifty took support at 6070 but failed to cross 6170. A cross above 6170 might take Nifty to 6300 levels. Stay invested as global indicators point to a January rally.