Pri Market Commentary ...

Today,we expect bears to be in command at least till noon, especially with global markets trading deep in the red. Thereafter, RBI’s monetary policy will take center-stage. The RBI in its quarterly economic survey released on Monday stated that India’s budget deficit may come under pressure this year. The survey also revealed that corporates are uncertain about whether the overall business situation would improve in the July-September quarter. Any hike in key rates could provide bears fresh opportunity to dominate. On the other hand, a status quo could lead to a short-term rally on the street.