The indices globally seem to be pushing beyond limits as the positive sentiment refuses to die down at least as far as the main indices are concerned. The election outcome and the policy actions by the new government could decide if India is able to retain its investment grade sovereign rating says Standard & Poor's without taking a particular view on any party. The southwest monsoon is likely to be below normal in 2014 because of the evolving El Niño, according to a forecast by Skymet. But such is the euphoria in the market that penny stocks and lesser-known companies are hogging the limelight these days. Investors will do well to reduce their exposure to such high-risk companies.
The outlook is a positive start. United Spirits remain in high spirits as Diageo made Rs. 11,450-cr open offer to hike stake. AstraZeneca Pharma saw weakness as it has deferred delisting. Crompton Greaves could be in action again on reports that Hitachi has emerged as the front-runner to buy the promoter's stake in Crompton Greaves. The results season is underway and attention will be on TCS and Mindtree today among others.