Flat Start; Focus on Results - IIFL

The recovery in the market on Tuesday may not be very convincing but investors may be a relived lot. Gold too seems to have seen an arrest in the fall for now. The IMF has stated that the world economic outlook has worsened over the past three months and growth will stay flat this year. IMF has stated that significant structural challenges would affect India. The IMF projected a 5.7% growth this year and 6.2% next year.

Finance Minister P Chidambaram has said that India was committed to reducing its fiscal deficit and would achieve the target of 3% in 2016-17.

The opening is set to be flat. A runaway rally is not really anticipated but investors will start closely paying attention especially to companies that declare their numbers. HCL Tech has marginally beaten expectations on the PAT front. After Infosys disappointment, TCS results today will also be closely eyed. RIL met market expectations on Tuesday.

Results watch: TCS, HCL Tech, Puravankara Proj, Bonanza Inds, TSL Inds, Yes Bank, Universal Cred, Modella Wool, Media Matrix, Liberty Phos, Chitradurga Spin

Source : Equity Bulls

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