Asian Markets hit speed
Dalal Street likely to extend consolidation, Stock specific activity to continue
Indian equities are likely to open in the red on thursday morning as Asian Markets hit the roadblock, sliding around one percent each. Wall Street closed flat on Wednesday on weak crude oil prices.
News Bytes
* 3 PE funds to invest Rs 1,440 cr in GMR Airport
* Domestic vehicle sales hit all-time high in February
* Essel Propack to shut 2 plants in US and Egypt
* Hanung Toys buys controlling stake in Cody Direct Corp
* PFC to set up subsidiary for renewable energy sector
* Tata Steel plans to expand German auto unit
* RIL's D6 gas output to rise 30% in 2011-12, says DGH
* Ashok Leyland expands network in Punjab, HP
* January industrial production seen rebounding to 2.7%, up 110 bps in December
* Hero pledges shares, raises Rs. 900 cr.
* RCom says China loan to help lower interest cost
* BofA-ML cuts India’s FY12 growth target to 8.2%
* Camlin Fine Chemicals buys Italy’s Borregaard
Markets - Consolidation is the name of the game
After series of volatile sessions, Indian markets are going through a consolidation phase. While global conditions are still jittery, Libyan crisis has overextended and we are finally at a stage where Markets might not want to care about the crisis any longer. Dow Futures are down 65 points and this might impact Indian markets during the open.
Stock specific activity is likely to continue as we belive investors are slowly returning to the Street.
