- The big news on Thursday was the Rs.74,000 crore write off by Vodafone and Bharti Airtel against their dues to the DOT over the AGR charges. This is likely to weigh on market sentiments on Friday.
- With a slowdown in Germany and in China industrial production, the markets are likely to be extremely wary considering the likely impact growth. Markets are are also likely to be cautious ahead of an uncertain weekend.
- FPIs were net sellers to the tune of Rs.563 crore while DFIs bought Rs.83 crore on Thursday. After a long time gap, the FPIs have been sellers in the market but have already infused more than $2.5 billion since the beginning of November.
- Markets across the US and Europe came under pressure due to the weak macro data reported by Germany and China. However, Asia is in the positive on stimulus hopes and the SGX Nifty is also in the positive in early trades.
- Telecom could be the space to watch out for after the massive write offs taken by the two large telecom companies. Bharti has warned about doubts as a going concern and government moves on this front will be closely watched.
- With heavy mutual fund selling, ICICI Bank could come under some degree of pressure in the coming days. One can look to sell around the Rs.500 mark for downside targets of Rs.450 in the next one month..
- After the sound results, one can look to buy Amara Raja Batteries around the Rs.730 levels for upside targets of Rs.800 in one quarter. The niche play would be an advantage plus its expertise in emerging technologies.
- Markets are expecting some government policy on the telecom sector as two large companies get endangered. That could be the big story of Friday.
