Tax loopholes must be plugged. The listed debenture market is around Rs 1 lakh crore, and it is estimated that a 25-30 per cent tax loophole exists there
Participants would also keep an eye on the spread of the deadly coronavirus in China and other countries, they added. The lethal virus has claimed 56 lives in China, and spread to about a dozen nations.
Abheek Baruah of HDFC Bank says that expectations from trade and hotels component were expected to be higher. It indicates that there is a fall in consumption demand, he told CNBC-TV18.
The Reserve Bank earlier this week announced a slew of measures like raising cost of borrowing by banks by 2 per cent to 10.25 per cent and announcing sale of bonds worth Rs 12,000 crore through open market operations to suck liquidity to check sliding rupee which hit a life time low of 61.21 to a dollar.
Shares of Infosys soared 11 percent higher after the company posted a 4 percent increase in the consolidated net profit in the April June quarter.
All attention is on the second LTRO expected from the European banks that will bring with it a tide of fresh liquidity into the system. Trevor Williams, chief economist, Lloyds TSB spoke to CNBC-TV18 about his expectations.
China's annual gross domestic product growth eased to 9.5 in the second quarter of 2011 from 9.7% in the previous quarter, the National Bureau of Statistics said on Wednesday.
Terming the RBI's move to hike key interest rates by 25 basis points in line with market expectations, analysts said there is a high probability of a couple more hikes during the year.