In high spirits!

"The human spirit is stronger than anything that can happen to it." - CC Scott.

The advance GDP estimate for FY12 will be out today. The numbers are unlikely to be upbeat and most of the reasons are well known. The Indian economy is likely to grow by ~7% in FY12 vs. 8.4% in FY11. However, stock market tends to discount events well ahead of time and therefore the GDP data may not hurt sentiment.

The start today is likely to be positive if the Nifty futures trading in Singapore are any indication. Asian markets are mixed. Japanese and Chinese shares are down, but the Hong Kong market is up.



US stocks finished flat as Greek political parties failed to agree on terms for a new bailout package. European stocks declined as talks between Greece and various other stakeholders drag on amid rising threat of a default. Willy-nilly, Greece has become a test case for the eurozone as it struggles to rein in a long-running debt crisis.

Other events to watch out for today include: interest rate decision in Australia, industrial production in Germany and Federal Reserve Chairman Ben Bernanke’s testimony.

The FIIs were net buyers of Rs 9.97bn in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers at Rs 1.83bn, as per the provisional figures released by the NSE.

The FIIs were net buyers of Rs 4.69bn in the F&O segment on Monday, according to the provisional NSE data.

The foreign funds were net buyers of Rs 9.74bn in the cash segment on Friday, as per final SEBI data. Mutual Funds were net sellers at Rs 3.89bn on the same day.

Major Results Today: BILT, Cadila Healthcare, GMR Infra, Hindustan Oil Exploration, ICRA, IL&FS Transportation, JK Lakshmi Cement, M&M, Omaxe, Opto Circuits, Phillips Carbon, Radico Khaitan, Triveni Engineering, UB and VIP Industries.