Today, we expect the key Indian indices to fall at the opening bell. Overall, we see them staying choppy and rangebound ahead of the political developments immediately and quarterly results. The IT sector may hog the limelight as Infosys will declare its results on Friday and others will follow suit next week. The current weakness in the rupee may have some positive spin on IT shares. This morning, the Indian currency is trading at 43.32 versus the dollar against yesterday's close of 43.29.
This morning, cues from global markets are discouraging. US shares gave up most of their gains to end slightly lower. Asian markets are down 1-2.5% this morning, except for China. The bulls may take some heart from the fact that crude oil prices have cooled off marginally and key European indices gained almost 2% yesterday.
