All eyes on GDP data today

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All eyes on GDP data today

All eyes are on gross domestic product (GDP) data today. If the GDP data comes on a positive surprise, a further addition from the long-only funds, in some of the selected stocks, will be seen. CNBC-TV18’s Nimesh Shah reports.

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All eyes are on gross domestic product (GDP) data today. If the GDP data comes on a positive surprise, a further addition from the long-only funds, in some of the selected stocks, will be seen. CNBC-TV18's Nimesh Shah reports.

Below is a verbatim transcript of Nimesh Shah's comments on CNBC-TV18. Also watch the accompanying video.

The Dubai crises may seem to be over. However, it will add volatility in the short-term. Most dealers feel that we will see a bounce back, which will be back to the level of 5,000. However, if you look at Friday's trade, it was largely the domestic institutional investors (DII) money which propels the market from the day's low. The DIIs buy close to 700 crore in the cash market.

Flows are going to be very important in today's trade because all eyes are on GDP data. If the GDP data comes on a positive surprise, you will see further addition from the long-only funds in some of the selected stocks. As far as pullback is concerned, largely from the lows, you will see some bit of bounce back in the high beta realty and metal stocks. There is some selective buying coming in the banks stocks. The last thing to watch out are the four important stocks which will see some changes in the Morgan Stanley Capital International (MSCI) post closing today Housing Development and Infrastructure Limited (HDIL) and Suzlon get into it.

You will see some bit of rebalancing in some of the portfolios in today's trade, whereas Glenmark and Power Grid move out. It will see some bit of pressure on those particular stocks. However, it's a GDP data to watch out in the second half of today's trade.