Market may trade between 8370-8410: Indira Securities

Indira Securities’ Market Report:

Indian equity markets closed with significant losses in Monday's trade. Rating agency Moody’s Investor Services Inc. report that India’s sovereign bond rating of ‘Baa3’ could improve if fiscal and inflation metrics were to strengthen beyond the rater’s expectations, accompanied by a sustained acceleration in infrastructure investment, failed to add any upside on the street. Moody’s, however, noted that the political climate may continue to hinder significant reforms.

Traders were seen piling positions in FMCG sector while selling was witnessed in IT, TECK and Capital Goods sector stocks. For today's trade market likely to trade in the range between 8460 – 8490 in the upper side and 8410 – 8370 in the lower side.

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