B-ringing in FDI; flat start for the day - IIFL

A lot seem to be happening these days. The government on Tuesday decided to hike foreign direct investment (FDI) in a dozen sectors, including 100% in telecom and higher caps in insurance and defence sectors. However, sectors like civil aviation, airport, media, multi-brand retail and pharmaceutical remained untouched.

The outlook for the day remains a tad positive in light of latest FDI measures. Stock-specific swings will be witnessed as corporate announce their numbers. HDFC Bank will be in focus today. However, bank stocks and rate sensitives are likely to remain weak today.

Globally, investors are anxiously awaiting a testimony from Federal Reserve chairman. His take on timing of the US central bank's tapering of its bond buying stimulus program and the impact on interest rates will be closely eyed. ADB had lowered India's growth forecast to 5.8%.

Source : Equity Bulls

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