Stretching slowly - IIFL

The market is finding it a bit difficult to stretch its gains. Japan's economy has returned to growth. China's Fed exports have risen 21.8% over last year. Jobless claims in the US have fallen. The European Central Bank has downgraded its forecast for the eurozone economy but has left interest rates unchanged. Revised projections how the euro zone will contract by 0.5% rather than 0.3% as previously predicted.

The global cues are more or less fine but looks like our indices will consolidate around the current levels for the day. The market is expected to open flat to positive. Investors will watch the outcome of the Sebi board which meets today to take forward a number of proposals announced by Finance Minister P Chidambaram in his Budget speech for attracting more domestic and foreign investors to the capital markets. The RBI board will meet today after which the FM will address RBI board directors.

RBI is seeking detailed information on lenders' exposure to the infrastructure sector, a measure aimed at reducing sticky loans.

Source : Equity Bulls

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