The markets yesterday bounced back to their highest levels since August 2011. Late buying powered the Nifty past the 5,400 barrier and Sensex added 120 points.
Thanks to Greece finally reaching a deal, global markets too are on a rally now. The Dow ended at 12890, its best levels since may 2008 and Europe too closed higher.
Click on the 'speaker' icon on top right to play the audio
Commodities are in profit booking mode this morning. Its was an 8th session of gains for Brent that was up 1.2% at USD 118.6 per barrel. WTI too was up 1.1% to close at USD 100 per barrel.
Gold meanwhile is hovering around USD 1730 per ounce.
Back home, the December IIP will be announced today. A CNBC-TV18 poll sees it lower at 3.45% compared to 5.9% in November.
In earnings, Tata Steel posted a whopping Rs 600 crore loss on the back of unexpectedly high inventory write-downs, rising input costs and dwindling demand in europe. watch out for movement on the stock.
The Department of Telecom is set to meet on the implementation of 2G order today. Government sources say that DoT is not clear if CDMA spectrum should be cancelled or auctioned.
From the oil and gas space, HPCL says that the government has committed for rs 15,000 crore as compensation to OMCs for Q3. The gross under recoveries in the third quarter stand at Rs 7,128 cr for the company.
