BSE Sensex and Nifty are likely to open lower, tracking weak Asian
markets. The SGX CNX Nifty was down 0.77 per cent to 7,907, indicating a
weak start for Indian markets.
Here are top 10 developments:
1) Asian shares followed Wall Street lower on Monday after the Federal Reserve's decision to keep interest rates at record lows raised fresh concerns about growth globally, particularly in China.
2) Japan's Nikkei plunged nearly 2 per cent, Hong Kong's Hang Seng fell over 1 per cent while China's Shanghai Composite was up nearly 0.25 per cent.
3) Traders will be closely eyeing foreign funds, which bought Indian equities (net) of Rs 643 crore on Friday. Analysts say the sustainability of this fund flow needs to be watched as foreign funds have earlier sold close to Rs 6,000 crore of Indian equities so far this month.
4) FIIs had sold a record Rs 16,877 crore (net) worth of domestic stocks in August, leading to the recent selloff in Indian markets.
5) The rupee would also be closely tracked by the traders. Following the Fed's decision to hold rates, the rupee had closed at a nearly 1-month high of 65.67/dollar on Friday, posting its biggest gain in two years.
6) Despite the sharp pullback, analysts don't see significant near-term upside to the rupee.
7) The Fed has not ruled out a rate later this year and the concerns about emerging countries could keep the rupee gains capped, they say.
8) Indian markets had rallied over 1 per cent on Friday with traders attributing the solid gains to hopes of a repo rate cut on September 29, when the Reserve Bank meets to review its monetary policy.
9) Analysts say that a 25-basis point rate cut is already factored in; the RBI could surprise with a 50-basis point cut, they say.
10) But many market analysts are cautious about their near-term outlook. The upcoming earnings season, Bihar assembly elections and action on reforms front will be closely tracked for further cues, traders said.
Here are top 10 developments:
1) Asian shares followed Wall Street lower on Monday after the Federal Reserve's decision to keep interest rates at record lows raised fresh concerns about growth globally, particularly in China.
2) Japan's Nikkei plunged nearly 2 per cent, Hong Kong's Hang Seng fell over 1 per cent while China's Shanghai Composite was up nearly 0.25 per cent.
3) Traders will be closely eyeing foreign funds, which bought Indian equities (net) of Rs 643 crore on Friday. Analysts say the sustainability of this fund flow needs to be watched as foreign funds have earlier sold close to Rs 6,000 crore of Indian equities so far this month.
4) FIIs had sold a record Rs 16,877 crore (net) worth of domestic stocks in August, leading to the recent selloff in Indian markets.
5) The rupee would also be closely tracked by the traders. Following the Fed's decision to hold rates, the rupee had closed at a nearly 1-month high of 65.67/dollar on Friday, posting its biggest gain in two years.
6) Despite the sharp pullback, analysts don't see significant near-term upside to the rupee.
7) The Fed has not ruled out a rate later this year and the concerns about emerging countries could keep the rupee gains capped, they say.
8) Indian markets had rallied over 1 per cent on Friday with traders attributing the solid gains to hopes of a repo rate cut on September 29, when the Reserve Bank meets to review its monetary policy.
9) Analysts say that a 25-basis point rate cut is already factored in; the RBI could surprise with a 50-basis point cut, they say.
10) But many market analysts are cautious about their near-term outlook. The upcoming earnings season, Bihar assembly elections and action on reforms front will be closely tracked for further cues, traders said.
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