The market is still in red. The Sensex is down 82.84 points at 27878.35 and the Nifty is down 24.65 points at 8435.00. About 1378 shares have advanced, 889 shares declined, and 126 shares are unchanged. Tata Motors, Hindalco, HDFC, SBI and Vedanta are top losers in the Sensex. Coal India, Lupin, BHEL, Dr Reddy's Labs and Hero MotoCorp are top gainers in the Sensex.
Barclays is not concerned about the pick-up in food inflation seen in June retail inflation figures since the broader picture is much more promosing. Rahul Bajoria of Barclays says the decline in crude prices is the biggest postive right now. "If the trend continues, government will find sufficient scope to spend money on subdued sectors like infra. So from a five-year perspective, infra story is quite compelling, he insists. Total amount of incremental investment in infra should be around 8.5 percent of GDP.
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