The market is expected to receive positive IIP data and the plan of the new Direct Tax Code, particularly STT. A few tax offers could cause create anxiety.
In the cash section, FIIs remained net sellers of Rs.5.05bn on Tuesday on an interim basis whereas the local finances posted Rs.1.9bn. The foreign finances remained net sellers at Rs.1.79bn in the F&O section. The foreign finances remained net purchasers at Rs.7.04bn on Tuesday in the cash section.
Globally, things are much better than they have been in the recent times. The US central bank has its core rates stable. A gap-up beginning and a promising day for the bulls is expected. Investor sentiment got better across the world in August, getting bears into bulls in 5 of the world’s hugest stock markets. Slump will continue for sometime in some parts of the globe and individual financial systems before there are unrelenting traces of a turnaround.