Flat start; Wipro in focus - IIFL

After just about managing to cross the 6200 mark, the Nifty is set to see some cooling today. Global cues are lackluster are investors await the US jobs data which was delayed by the government shutdown.

The opening is a flat start. Some profit-taking may be seen in counters which have sprinted in recent days. Wipro results will be out today and some activity will be seen in the counter in anticipation. Other results include Cairn and Yes Bank.

The rupee saw some weakness losing 25 paise to end lower at 61.52 to a dollar; the weakness may continue today. Dr. Raghuram Rajan, Governor, Reserve Bank of India said "while we project the CAD to come down to 3.7% this year, I think we could be pleasantly surprised. Not all the actions we have taken are pretty, and not all are sustainable, but they have done the job."

India's GDP will probably grow by 5-5.5% this year - not great, but certainly not bad for what is likely to be a low point in economic performance, Rajan said.

Source : Equity Bulls

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