Indian Markets losing glitter - IIFL

The market seems to have lost faith especially after Infosys disappointed on Friday. Corporate earnings and management commentary will be even keenly analysed for clues on meaningful improvement in business sentiment. Reliance Industries will announce March quarter results tomorrow. TCS, Wipro and HCL Technologies numbers this week will reveal whether Infy battering is an exception.

On the political front, Union Agriculture Minister Sharad Pawar has openly said that general elections were round the corner, adding the United Progressive Alliance (UPA) government had become vulnerable after the Dravida Munnetra Kazhagam withdrew support. Meanwhile, The Janata Dal (United) national council has set conditions for selecting the leader of the National Democratic Alliance for the next general elections asking BJP to declare their Prime Ministerial candidate at the earliest.

The commerce and industry ministry will announce the whole price inflation (WPI) data for March today. Wholesale prices may have risen slightly lower than the 6.84 per cent of February. Diesel prices have been hiked thrice since the beginning of the year, the latest on March 22 and this impact would slowly set in.

Source : Equity Bulls

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