Last day of the calendar month and the 2nd day of the August series is starting on a flat note. NIFTY will open above 10,000 and this is an important week with the monetary policy scheduled on Wednesday. In my view the maximum we can expect is a 25bps cut and that might not be sufficient to pump up NIFTY further but bank nifty might be bit positive. HDFC is the leader in this pack. Global cues are also mixed. US GDP for Q2 comes at 2.6% vs expected 2.7% which is a mild dampener. Added to this is the rising crude prices which is almost touching 53 dollar. Dollar index is getting weaker and breaking 93 mark and that could make the rupee go below 64 after a long long time today. NIFTY in my view might be around 10,000 mark today and close flat or slightly positive.

Q1 results scheduled for today

1. Container corporation
2. Essar Shipping
3. Godrej Consumer
4. Hexaware
5. Indigo Airlines
6. Maharashtra bank
7. Radio city
8. Shree cement
9. Sintex
10. V guard

Fuel prices in important cities on 31st July
City                   Petrol                  Diesel
Delhi                 65.26(64.87)      55.50(55.19)
Mumbai             74.58(74.20)      59.08(58.75)
Kolkata             68.45(68.14)      58.25(55.34)
Chennai             67.78(67.37)      58.53(58.20)
Bangalore         66.45(66.05)      55.66(55.34)
Hyderabad        69.32(68.91)      60.45(59.93)
Diesel crossed 60 rupees in Hyderabad and Petrol prices gone up by 35-40 paise and diesel prices by 45-50 paise. Huge rise because of Crude oil surge!