Hoping on Hero, HCL Tech - IIFL

The Indian market, like its global counterparts are just moving in a tight zone. Profit booking saw the Sensex and Nifty cool on Wednesday and any move below the support levels could puncture the medium term uptrend. The opening is expected to be flat with no major commitments likely. With the RBI meet a few days away, the attention will continue on the results; Hero and HCL Tech will be in focus for the day.

Finance Minister P. Chidambaram has indicated that he will outline amendments to the Constitution on the Goods and Services Tax (GST) in his Budget speech. He told states that there needs to be consensus among them on tax reform. An assessment by the International Monetary Fund has found significant improvement in SEBI's implementation of IOSCO's (International Organisation of Securities Commissions) principles related to the securities markets. The cooperation between RBI and SEBI on payment and settlement systems would benefit from formal arrangements for information sharing and policy coordination, IMF said.

Source : Equity Bulls

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