RIL results; commodity commotion in focus - IIFL

Investors across asset classes seem to be getting the jitters. Precious metals are no longer what they used to be a couple of days ago with a free fall continuing in gold and silver among others. There are no clear answers for the sudden crash. Yet some cite the improving prospects for the US economy; others push the blame on China's who's economic growth has slowed down in the first quarter (7.7%).

The opening is expected to be muted. Some turnaround can always be expected especially when pessimism is higher at start. RIL results will be eyed which is mostly expected after market hours. The US markets saw a selloff after news of explosions at the Boston Marathon. Housing recovery in US has lost some of its steam in March.

Among other things to watch out for, International Monetary Fund will release its World Economic Outlook. Finance Minister P. Chidambaram spoke in Toronto saying India will cut fiscal deficit to 3% of GDP by FY17 and is committed to getting back to 8% annual growth rate. Gold imports are likely to go down by about 25 % this month to around 53.25 tonnes compared to the same period last year due to the declining gold prices, a bullion trade body said.

Source : Equity Bulls

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