The best of wishes may not change the fortunes of the market overnight but the hope is things will be brighter as we move ahead. The Indian indices will be forced into the red at start; the global cues remain the culprit. Asian markets are weak this morning.
Later in the day market will concentrate on the Industrial Production data for the month of September. The impact of the government’s policy measures may reflect in these numbers. Investors also will have the Consumer Price Inflation (CPI) to contend with. The levels of 5640 will act as critical support in the near term. Activity may be subdued as the stock market will remain shut for normal trading on November 13 and November 14 on account of Diwali. The special muhurat session will be tomorrow between 3.45 pm and 5 pm.
Some attention will also go towards the auction for 2G spectrum; Bharti Airtel, Idea Cellular, Vodafone India, Telenor and Videocon have expressed interest for various circles.