Like slight drizzle brings some relief from soaring heat and raises the hopes of a good monsoon,
The opening is likely to be positive, thanks to encouraging global cues. The main worry is that FII flows have not turned around. In fact, reports suggest some of them have switched to offshore alternatives to trade in Indian equities due to GAAR. All eyes are on monsoon. Another normal rainy season is crucial for India, which is battling a global slowdown and policy inaction. Telecom stocks will be in focus post the EGoM meet on 2G auction.
The ECB will hold its policy meeting today while Ben Bernanke will testify before the Congress on Thursday.
Conjecture about a possible repo rate cut by the RBI on June 18 has driven the sentiment in the past 2-3 sessions. But, it is still in the doubt, as sticky inflation, weak rupee and widening twin deficits may prevent the RBI from easing. Watch out for the latest current account deficit numbers later this month. Before that, markets will react to the latest IIP data and inflation numbers.
Greece election on June 17 is the most critical event of this month for the world markets. The end-of-the-month G-20 summit and FOMC policy meeting will also have a bearing on sentiment.
The opening is likely to be positive, thanks to encouraging global cues. The main worry is that FII flows have not turned around. In fact, reports suggest some of them have switched to offshore alternatives to trade in Indian equities due to GAAR. All eyes are on monsoon. Another normal rainy season is crucial for India, which is battling a global slowdown and policy inaction. Telecom stocks will be in focus post the EGoM meet on 2G auction.
The ECB will hold its policy meeting today while Ben Bernanke will testify before the Congress on Thursday.
Conjecture about a possible repo rate cut by the RBI on June 18 has driven the sentiment in the past 2-3 sessions. But, it is still in the doubt, as sticky inflation, weak rupee and widening twin deficits may prevent the RBI from easing. Watch out for the latest current account deficit numbers later this month. Before that, markets will react to the latest IIP data and inflation numbers.
Greece election on June 17 is the most critical event of this month for the world markets. The end-of-the-month G-20 summit and FOMC policy meeting will also have a bearing on sentiment.