India Morning Report: Markets inch up to 8000 levels on futures trading higher

As mentioned last week, most stocks are ready to move but being at overall new levels the blue sky moves are finding it harder to stay in the range of certainty in no small measure due to GDP growth still pending return to growth cycle levels if improvement and cyclical demand expected to improve still not doing so. The SC judgement on Coal should largely have been ignored as a fait accompli by the markets and this expectation of policy reversals in each and every item is highly disconcerting, given that none of the 200 + allotments had produced anything since theiur allotment a decade earlier

The Indian currency is holding 60.5 levels even as another PSU bank corruption case breaks cover in the media and we move on to the next set of reforms long lying unchecked on the agenda and investors getting hope from performance of the select fundamentally impermeable stocks in key industries

SBI has started rate cuts early as expected in home loans above 30 lacs category and the coming competitive scenai=rio unfolding may be great for reviving consumer sentiment with ICICI Bank only expected to follow after 3-6 months given their strong hold on their consumers as well

Markets may find yesterdays highs easy to emulate  again during the afternoon though surprisingly with greater contribution for new midcaps hitherto not participating in the rally



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