Rest near best!

Make the best use of what is in your power, and take the rest as it happens. - Epictetus



We are in for a wobbly start. One would have hoped for some energy from the bulls considering they did display their power during the week when the Nifty blasted past 5450. The global cues are perhaps forcing them to rest.

The key Indian indices have struggled for direction on the back of disappointing IIP report, double-digit inflation and less-than-expected results from Infosys. TCS’ stellar results could put some life into the stock but whether it will rescue the IT space, we will have to wait and see. No major results are due today, but we do have a listing of Technofab Engineering Ltd.

Wall Street recovered from session lows, but Asian markets are mostly down owing to concerns about growth in the US and China. European stocks too erased most of their gains to finish in red after the release of downbeat US manufacturing data.

In the process, the markets ignored positives like JP Morgan’s good earnings, strong Spanish bond sale and news of bank consolidation in Greece. The euro has rallied while the dollar is down.