Free Intraday Tips Today : 12.06.2015
Pre Session: Bearish trend may continue on D-street; CPI, IIP data eyed
12/06/2015
The Indian equity benchmarks may see negative opening on Friday, ignoring firm cues from Asian peers who were trading higher on hopes of monetary easing in the region and improving situation in Greece. Meanwhile, Wall Street ended higher in overnight trade as retail sales data lifted the outlook for consumer spending. Back home, investors will keep an eye on the macro data which will be released later in the day. After shrink in current account deficit, any improvement in the Index of Industrial Production (IIP) and CPI inflation will be a major boost to the economy. Further, a negative opening of the SGX CNX Nifty Index futures for June delivery further validates a bearish opening for domestic bourses. Undermining shrink in current account deficit and firm global cues, the Indian benchmark indices nosedived on Thursday, emerging as worst performing equity in Asia today. Weak monsoon forecast and caution ahead of key macro data, IIP and CPI, weighed on investors sentiment. The investors booked profit in stocks after market rebounded strongly yesterday.
