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The markets are likely to open in green tracking firm global cues. In addition, easier norms on bond sales for infrastructure and affordable housing notified by the RBI is expected to boost the sentiments of the market participants.
Asian stocks held stubbornly steady on Wednesday after China reported economic growth that was just ahead of market expectations, enough to prompt a sigh of relief from investors, but little else.
China's economy expanded by 2.0 percent in the second quarter from the previous quarter, taking annual growth to 7.5 percent. Retail sales and industrial output were either in line with forecasts or slightly higher. In addition, SGX Nifty is quoting at 7,565.50 levels up by 0.3%
The data confirmed the Asian giant had stabilised after a shaky start to the year but still left the global outlook cloudy, particularly given recent weakness in the euro zone.
Back home,To boost demand for infrastructure and housing, the Reserve Bank of India (RBI) on Tuesday said banks would not have to maintain cash reserve ratio (CRR) or statutory liquidity ratio (SLR) and will not have to meet priority-sector lending targetsfor funds raised through bonds for extending credit to these sectors.
Stocks to watch:
Infrastructure lender IDFC may benefit the most from the recent Budget proposal on relaxing regulatory requirement for infrastructure lending.
Infrastructure stocks are likely to benefit after RBI decided to maintain cash reserve ratio (CRR) or statutory liquidity ratio (SLR)
Realty sector is likely to remain in focus after RBI eased credit availability for affordable housing.
The high court here on Tuesday upheld the compulsory licence granted to Hyderabad-based Natco Pharma to manufacture an affordable generic version of Nexavar (sorafenib tosylate), a kidney cancer drug patented by German drug major Bayer AG.
Mobile value added services firm OnMobile Global announced the divestiture of its French subsidiary Voxmobili S.A to Synchronoss Technologies Inc for approximately USD 26 million.
