The opening will be little lower due to the weak global cues.... 12-July-2012

[RaahiShah]

The opening will be little lower due to the weak global cues. Asian markets are down, on tbe back of losses on Wall Street.

The market is ready to view the results of the performance of technology giants– TCS and Infosys. Markets will also have to contend with IIP data for May.

Infosys is likely to scale back its dollar revenue guidance for FY13 while upgrading rupee EPS due to currency fluctuations.

TCS is expected to announce its numbers after the close of trade. TCS’ margins could drop by 50-60 bps due to salary hikes.


On the other hand, IIP has been quite volatile, raising doubts about its accuracy. However, it still is an important indicator for the markets. May IIP is expected at 1.7% while WPI inflation, which is due on July 16, is estimated at 7.5%. All these things, RBI will take this into account when it takes up a review of its monetary policy on July 31.

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