Some tranquility - IIFL

The market hardly gives time to treasure gains. After a bounce back of sorts on Thursday the market may trade in a narrow range for the day despite most global cues being healthy. The WPI inflation rose to 6.84% in February, from 6.62% mom on account of the impact of fuel price corrections. Raghuram Rajan says the Indian economy is not facing stagflation, and there are signs that growth is picking up.

Standard & Poor's pegged India's FY'14 GDP growth rate at 6.4%, and said a rating outlook upgrade could be on the cards if the government gets its act right.

The RBI has allowed foreign institutional investors to offer their investments in government securities and corporate bonds as collateral to stock exchanges for derivatives transactions.

A sting operation by cobrapost.com on top banks caused an initial impact but the banks staged a comeback after they clarified and promised to investigate the matter. Various probes will continue in the coming days.

Source : Equity Bulls

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