Flat opening; narrow range likely - IIFL

The market appears to be desperately seeking a direction. Sentiment has weakened with the downgrades and domestic issues. Coal-gate has taken centre stage for the moment. The CBI is now examining the correspondence between Odisha Chief Minister Naveen Patnaik and the coal ministry, then under Prime Minister Manmohan Singh, recommending Hindalco for coal block allocation in the state.

The outlook is a flat start. The reaction to numbers is also erratic with stocks often tanking despite meeting expectations. L&T will be in focus today on account of its results.

China's economy chugged ahead as its Gross Domestic Product grew 7.8% over the previous year during the third quarter.

The government has reduced the import tariff value of gold and silver to $418 per 10 gram and $699 per kg, respectively.

Source : Equity Bulls

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