Infosys fuels rally in Indian Markets - Standard Chartered Securities

Key benchmark indices surged after IT major Infosys kicked off the Q1 earnings season by reiterating its revenue guidance for the current year. Also aiding the rally on the bourses in late trade was data showing a reduction in trade deficit on a month-on-month basis in June 2013. Gains in European stocks also aided gains both Sensex and Nifty reached its highest closing level in more than 6 weeks.

Capital goods pivotals edged higher for the second straight day. Auto stocks were mixed. Pharma stocks gained on renewed buying.

Markets expected to open flat, tracking global markets. The next batch of Q1 June 2013 results, data on wholesale price inflation for June 2013, trend in investment activity of foreign institutional investors, movement of rupee and crude oil prices will dictate near term trend on the bourses.

Source : Equity Bulls

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