Global cues are mostly higher so some ticks of green are expected at least in the initial hour of trade. With US retail sales rising, the Dow and S&P clocked some gains while Nasdaq was up marginally.
Welcome to a data heavy day. The indices have been drifting lower as foreign investors continue to dump shares in the quest of maximizing their opportunities in other regions. Yes, monsoon is a worry but investors seem to be reluctant to take fresh long term bets for now.
The outlook is a flat start. Global cues are mostly higher so some ticks of green are expected at least in the initial hour of trade. With US retail sales rising, the Dow and S&P clocked some gains while Nasdaq was up marginally. Asian markets are mostly higher. Nikkei is just about in the green while Hong Kong's Hang Seng is up half a percent. China's Shanghai index is trading 0.20% higher.
Attention will be on IIP and CPI numbers. Industrial production, which includes the output of factories, mines and utilities, likely rose 1.8% in April from a year earlier. This compares to 2.1% in March and a revised 4.9% in February. Meanwhile, CPI data for the month of May also is scheduled to be unveiled today. This number is expected to 5-5.05% for May on account of uptick in fuel and vegetable and pulses prices.
Prices of vegetables, edible oil and milk have risen 5-10% in the past month, with onion, tomato and lady's finger leading the pack with a 30-50% rise. Traders say the situation can deteriorate if the monsoon does not gain momentum, says a report.
Analysts are expecting RIL to announce launch date, total capex and future plans for Rel Jio at the AGM.
Nestle India could see some swings after it has approached the Bombay High Court to seek judicial review of the orders passed by Food and Drug Administration in Maharashtra and the Food Safety and Standards Authority of India.
Foreign institutional investors stepped up sale of Indian stocks, dragging down key indices to eight-month lows on Thursday. Foreign portfolio investors net sold Rs. 622.89 crore of shares on Thursday after offloading stocks worth Rs. 726 crore so far in June, says a report.
An expert who’s been involved in internal debates at both the Federal Reserve and the European Central Bank says the U.S. central bank is already behind the curve in lifting interest rates.
Greece’s worrisome high unemployment rate is a stark reminder of the “alarming situation” in the country, with the crisis increasingly threatening to hit the European Central Bank’s reputation, Mohamed A. El-Erian, chief economic adviser at Allianz, said on Thursday.
The World Bank joined the IMF in urging the Federal Reserve to hold off raising rates until next year, citing an uneven U.S. recovery and the risks to emerging markets of tightening policy any sooner.
Infosys would aim to touch industry-level growth rates next year, if it manages to meet its 10-12 revenue growth forecast this year, its chief financial officer said on Thursday.
During an investor conference on Thursday, finance chief Rajiv Bansal said the company would be well-positioned to return to industry-level growth rates if it puts up an improved show this year, as compared to last year when it grew at a meager 5.6%, says a report.
Telecom Commission reportedly said it has finalised its view on the spectrum sharing and trading guidelines."We will try to send the norms to the Cabinet by the end of this month," Telecom Secretary Rakesh Garg said.
The government is planning to raise the price of natural gas produced from Cairn India's eastern offshore Ravva field by 20% to USD 4.2 with effect from June 2010. A report says that Ravva field is divided into two - Contract Area-1, which produces about 8 million standard cubic feet per day of gas (mmscfd) and Ravva Satellite that generates around 20 mmscfd.
ABG Shipyard is close to sign deal to sell a majority stake in the company to Germany-based Privinvest Holding, according to reports.
The outlook is a flat start. Global cues are mostly higher so some ticks of green are expected at least in the initial hour of trade. With US retail sales rising, the Dow and S&P clocked some gains while Nasdaq was up marginally. Asian markets are mostly higher. Nikkei is just about in the green while Hong Kong's Hang Seng is up half a percent. China's Shanghai index is trading 0.20% higher.
Attention will be on IIP and CPI numbers. Industrial production, which includes the output of factories, mines and utilities, likely rose 1.8% in April from a year earlier. This compares to 2.1% in March and a revised 4.9% in February. Meanwhile, CPI data for the month of May also is scheduled to be unveiled today. This number is expected to 5-5.05% for May on account of uptick in fuel and vegetable and pulses prices.
Prices of vegetables, edible oil and milk have risen 5-10% in the past month, with onion, tomato and lady's finger leading the pack with a 30-50% rise. Traders say the situation can deteriorate if the monsoon does not gain momentum, says a report.
Analysts are expecting RIL to announce launch date, total capex and future plans for Rel Jio at the AGM.
Nestle India could see some swings after it has approached the Bombay High Court to seek judicial review of the orders passed by Food and Drug Administration in Maharashtra and the Food Safety and Standards Authority of India.
Foreign institutional investors stepped up sale of Indian stocks, dragging down key indices to eight-month lows on Thursday. Foreign portfolio investors net sold Rs. 622.89 crore of shares on Thursday after offloading stocks worth Rs. 726 crore so far in June, says a report.
An expert who’s been involved in internal debates at both the Federal Reserve and the European Central Bank says the U.S. central bank is already behind the curve in lifting interest rates.
Greece’s worrisome high unemployment rate is a stark reminder of the “alarming situation” in the country, with the crisis increasingly threatening to hit the European Central Bank’s reputation, Mohamed A. El-Erian, chief economic adviser at Allianz, said on Thursday.
The World Bank joined the IMF in urging the Federal Reserve to hold off raising rates until next year, citing an uneven U.S. recovery and the risks to emerging markets of tightening policy any sooner.
Infosys would aim to touch industry-level growth rates next year, if it manages to meet its 10-12 revenue growth forecast this year, its chief financial officer said on Thursday.
During an investor conference on Thursday, finance chief Rajiv Bansal said the company would be well-positioned to return to industry-level growth rates if it puts up an improved show this year, as compared to last year when it grew at a meager 5.6%, says a report.
Telecom Commission reportedly said it has finalised its view on the spectrum sharing and trading guidelines."We will try to send the norms to the Cabinet by the end of this month," Telecom Secretary Rakesh Garg said.
The government is planning to raise the price of natural gas produced from Cairn India's eastern offshore Ravva field by 20% to USD 4.2 with effect from June 2010. A report says that Ravva field is divided into two - Contract Area-1, which produces about 8 million standard cubic feet per day of gas (mmscfd) and Ravva Satellite that generates around 20 mmscfd.
ABG Shipyard is close to sign deal to sell a majority stake in the company to Germany-based Privinvest Holding, according to reports.
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