Expecting the worst? - IIFL

Happy expectations seem to be taking a backseat with the International Monetary Fund's (IMF) revised growth forecasts for the year, stating that India will grow only 3.8% in FY14 against 5.6% projected in its July forecast. The IMF forecasts global growth to average 2.9 percent in 2013 - below the 3.2% recorded in 2012-and to rise to 3.6% in 2014.

The outlook is a weak start given the subdued sentiment following the IMF forecast. Among other news to watch out for Il&Fs Engineering And Construction will consider rights issue today. Reliance Infrastructure is set to consider some fund raising options. The Trade Secretary will brief the media on September trade data before noon.

RBI Governor Raghuram Rajan aims to build sophisticated financial infrastructure in three years that will facilitate trillion-dollar core sector investments, leading to sustained economic growth, a report stated.

Source : Equity Bulls

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