Tracking the bullish sentiment in global peers, market bulls are likely to make a strong comeback on Dalal Street, early trends suggest. However, a sequential dip in industrial production in May and high June retail inflation could cap gains.
India's industrial output grew 29.3 per cent in May on a low base, although the figure dipped 8 per cent sequentially. At the same time, retail inflation at 6.26 per cent remained above RBI's band for the second month in a row while it eased from 6.3 per cent in May.
That apart, stock-specific activity is likely to remain high amid Q1 earnings season. At 7 am, Nifty futures on SGX traded 112 points higher at 15,800.