Today, all eyes will be on the RBI monetary policy. Most market experts and economist believe that RBI will leave the key rates unchanged, according to CNBC-TV18 poll. Majority also expect the governor Raghuram Rajan to retain his hawkish tone. With the SGX Nifty trading 39-points down following weak global cues, the Nifty is expected to see gap down opening. Yesterday, major indices ended with marginal losses but midcaps continued to rally. Traders too were cautious ahead of the Reserve Bank of India credit policy review. On the global market front, US stocks ended lower on Monday following protests in Hong Kong that added to worries about Chinese growth and after a disappointing forecast from Ford Motor Co. In Europe, shares closed down with disappointing data weighing on sentiment and protests in Hong Kong affecting some financial firms with exposure to the region. Asian markets too were cautious over developments in Hong Kong and as investors focused on data in China and Japan. Kospi weighed down by data showing August industrial output posted its worst monthly fall since 2008. From the currency space, the dollar is hovering at a four-year peak against a basket of major currencies and is on track to post its biggest monthly gain in well over a year In commodities, crude hovers around USD 97/bbl on support from strong US economic data last week From precious metals space-- gold holds steady above a nine-month low but poised to post its sharpest monthly loss in 15 months as a rapid climb in the dollar dimmed the metal's appeal. On the domestic front, the Indian Prime Minister after giving speeches at the United Nations Central Park and Madison Square Garden, yesterday he got down to business as his USvisit enters the most crucial The prime minister met with top CEOs of corporate America. He held a break-fast meeting with 11 CEOs including the heads of Google, Pepsi, Citigroup, Carlyle group among others. Then he held one-on-one meetings with Jeffrey Immelt of General Electric, James Mcnerney of Boeing, Virginia Rometty of IBM, Henry Kravis of K-K-R among others. US companies sought clarity from India on its FDI policy and PM is learnt to have assured the CEOs that he has an open mind. Speaking about the recent coal scam verdict, Prime Minister said: “We want to convert the SC judgment on coal allocation into an opportunity to move forward and clean up the past.” RELATED NEWS
Tuesday, 30 September 2014
All eyes on RBI policy today; Nifty may open weak
Today, all eyes will be on the RBI monetary policy. Most market experts and economist believe that RBI will leave the key rates unchanged, according to CNBC-TV18 poll. Majority also expect the governor Raghuram Rajan to retain his hawkish tone. With the SGX Nifty trading 39-points down following weak global cues, the Nifty is expected to see gap down opening. Yesterday, major indices ended with marginal losses but midcaps continued to rally. Traders too were cautious ahead of the Reserve Bank of India credit policy review. On the global market front, US stocks ended lower on Monday following protests in Hong Kong that added to worries about Chinese growth and after a disappointing forecast from Ford Motor Co. In Europe, shares closed down with disappointing data weighing on sentiment and protests in Hong Kong affecting some financial firms with exposure to the region. Asian markets too were cautious over developments in Hong Kong and as investors focused on data in China and Japan. Kospi weighed down by data showing August industrial output posted its worst monthly fall since 2008. From the currency space, the dollar is hovering at a four-year peak against a basket of major currencies and is on track to post its biggest monthly gain in well over a year In commodities, crude hovers around USD 97/bbl on support from strong US economic data last week From precious metals space-- gold holds steady above a nine-month low but poised to post its sharpest monthly loss in 15 months as a rapid climb in the dollar dimmed the metal's appeal. On the domestic front, the Indian Prime Minister after giving speeches at the United Nations Central Park and Madison Square Garden, yesterday he got down to business as his USvisit enters the most crucial The prime minister met with top CEOs of corporate America. He held a break-fast meeting with 11 CEOs including the heads of Google, Pepsi, Citigroup, Carlyle group among others. Then he held one-on-one meetings with Jeffrey Immelt of General Electric, James Mcnerney of Boeing, Virginia Rometty of IBM, Henry Kravis of K-K-R among others. US companies sought clarity from India on its FDI policy and PM is learnt to have assured the CEOs that he has an open mind. Speaking about the recent coal scam verdict, Prime Minister said: “We want to convert the SC judgment on coal allocation into an opportunity to move forward and clean up the past.” RELATED NEWS
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