- India’s infrastructure output growth rises to 7.3 pct, hits 9-month high in June
- IFC is raising $2.5b for Indian infrastructure
- According to a joint study by consultancy firm PwC and industry body ASSOCHAM, Indian e-commerce industry will spend $ 950-1,900 million by 2017-2020 on infrastructure, logistics and warehousing
- A proposed US dollar bond from the operator of Delhi Airport is shaping up as a test case of international appetite for Indian infrastructure projects. The big benefit bond markets provide to fund infrastructure is the access to long-term institutional investors.
- Success in land reforms will ensure a big boost to this sector
CNXINFRA (CMP 3142) is near its resistance zone. First level is the resistance line of speed resistance lines at 3185, and next is the 61.8% Fibonacci level at 3215. A close above these levels will indicate beginning of an uptrend by infrastructure sector stocks.
RSI is indicating a divergence at bottom which is bullish.
It is important for this index to remain above 3050, else it will again enter into a minor downtrend by making a new low. It has a strong support at 2930, and if that is broken, the index will enter an intermediate bearish phase.
Several midcap, small-cap, and infrastructure stocks have fallen sharply, offering excellent opportunity to investors to enter.
The markets still offer opportunities for medium to long term investors in Equity Mutual Funds.