Today’s opening is likely to be muted due to mixed global cues...

RaahiShah Tue Jul 10, 2012 3:14 pm

Today’s opening is likely to be muted due to mixed global cues. The Asian indices are holding steady after Alcoa’s results beat estimates and EU finance ministers agreed to agreed to give Spain €30bn by the end of this month. Oil declined after Norway ended a strike by energy workers. In addition, China’s trade surplus widened in June as exports jumped and imports fell. US and European markets finished lower on Monday.

Notwithstanding with high inflation and elevated fiscal deficit, bankers and India Inc. are now pleading with the RBI for a fresh dose of monetary easing to revive the so-called “animal spirits”. However, the RBI Governor is unlikely to oblige when it meets on July 31. IIP and inflation data will have some bearing on the central bank’s stance, and so will the Rupee and global commodity prices.

The IT space will be in focus in the run up to the results of Infosys and TCS on Thursday.
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