The
buzzword for now seems to be ‘reshuffle’ and it might well be useful
for the Centre and your portfolio. Ministers with dual responsibilities
may be asked to focus on one while the second-rung of ministers could
gain some prominence.
With
the much-awaited US jobs report souring the sentiment, the start is
likely to be subdued at best. But, healthy dose of FII money and solid
earnings could lift the Nifty above the crucial 200-DMA level in the
short term. FIIs were actually net buyers of more than Rs 5bn on Friday,
when the market tumbled. That could check the slide in Indian stocks
this morning, despite weakness across Asian markets.
On
the domestic front, monsoon seems to have picked up after a rather
protracted lull. All eyes will be on Tuesday’s IIP data and Thursday’s
inflation report for June. The initial impact of the fuel price revision
will be reflected in June’s headline inflation. Further spike in
inflation is not ruled out as higher diesel prices tend to have a ripple
effect across the economy.
