Nifty may trade between 8270-8310: Indira Securities

Indira Securities’ Market Report:

Indian equity markets eclosed with significant losses in Tuesday's trade. On the macro-front, India’s Current Account Deficit (CAD) for the second quarter of the current financial year widened to USD 10.1 billion against USD 5.2 billion on Y-o-Y basis, which translated into 2.1 percent of GDP against 1.2 percent in the same quarter the previous year, added to some selling pressure.

Global credit rating agency Fitch, in its latest Global Economic Outlook, highlighted that India will be the only BRIC country where growth picks up in 2014 to 5.6 percent and further accelerates to 6.5 percent in 2015 and 6.8 percent in 2016, failed to add optimism on the street. Traders were seen selling in Power, Metal and PSU sector stocks.

For today's trade market likely to trade in the range between 8360 – 8390 in the upper side and 8310 – 8270 in the lower side.

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