Wall Street rallies on M&A blitz and homebuilder data

Global markets are strongly positive and Nifty is expected to open high with most of the sectors expected to perform well. New highs can be made today and Pharma, FMCG, Power, Infra and select midcaps are expected to perform well.

Today’s Headlines

1) Wall Street rallies on M&A blitz and homebuilder data
2) Asian markets gain; Nikkei, Straits Times rise
3) FinMin to give in-principle approval for UTI MF IPO soon
4) FDI in automobile sector drops 85% in April-May this year
5) Bankers tighten noose on Bhushan Steel; appoint auditors
6) ONGC divestment by end-August; govt to hire bankers
7) BSE revises equity transaction charges
8) Planning Comm can be replaced by Productivity Comm

Read detail analysis report here:- http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

Debt Market Key Headlines   

1) Foreign institutional investors (FIIs) have poured a record amount of money into the Indian debt market with year-to-date inflows of $13.7 billion, higher than inflows of around $12.04 billion into the equity market. There is a lot of demand for Indian bonds from foreign investors because yields are quite attractive for carry trade and the rupee has also been stable.
2) Indian 10 year yields have remained elevated at around 8.8%, more attractive than the yields on the 10-year US treasury bonds at around 2.5%, even after factoring in a possible depreciation of the rupee.

Read detail analysis Report here: - http://www.rrfinance.com/reserch/MorningBell/Db_MorningBell.pdf