BSE Sensex and Nifty are likely to open lower today tracking weak global
markets. Investors would be eyeing the RBI policy announcement due at
nearly 11 am today. The SGX CNX Nifty was down nearly 1.5 per cent at
7,719, indicating a weak start for Indian markets.
Here Are Top 10 Developments:
1) Domestic markets are likely to remain under pressure amid a selloff in Asian markets following a sharp fall on Wall Street. The latest round of selloff in global markets has been triggered by weak China data which exacerbated slowdown concerns about the world's second biggest economy.
2) Domestic markets will also take cues from Reserve Bank of India's policy announcement later in the day.
3) A 25-basis-point rate cut from the RBI is already factored in by the markets, say analysts. So unless it is more than a 25-bps rate cut, markets are unlikely to cheer it, they say.
4) If the RBI does not meet the Street's expectations, markets are likely to come under strong selling pressure amid weak global cues, they say.
5) Rupa Rege Nitsure, group chief economist at L&T Finance Holdings, says she expects RBI chief Raghuram Rajan to cut repo rate by 25 bps today but the policy statement is going to be hawkish and the central bank may go for a long pause after that.
6) Even if the RBI positively surprises the Street, markets may sideways in the near term due to Bihar (state) elections and upcoming results season, say analysts.
7) Rate sensitive stocks such as banking, auto and realty stocks are likely to be in focus today in view of the RBI's policy meet.
8) Metal and oil & gas stocks are likely to come under strong selling pressure following a selloff in commodities in global markets. Shares of global mining giant Glencore fell nearly 30 per cent in London market.
9) Chinese industrial companies' profits fell at their fastest rate in four years, sparking fresh fears about the strength of that country's economy.
10) In Asian markets, Hong Kong's Hang Seng slumped 3.5 per cent, Japan's Nikkei plunged 2.7 per cent and China's Shanghai Composite fell 1.8 per cent. On Wall Street, the Dow industrial average fell nearly 2 per cent.
Here Are Top 10 Developments:
1) Domestic markets are likely to remain under pressure amid a selloff in Asian markets following a sharp fall on Wall Street. The latest round of selloff in global markets has been triggered by weak China data which exacerbated slowdown concerns about the world's second biggest economy.
2) Domestic markets will also take cues from Reserve Bank of India's policy announcement later in the day.
3) A 25-basis-point rate cut from the RBI is already factored in by the markets, say analysts. So unless it is more than a 25-bps rate cut, markets are unlikely to cheer it, they say.
4) If the RBI does not meet the Street's expectations, markets are likely to come under strong selling pressure amid weak global cues, they say.
5) Rupa Rege Nitsure, group chief economist at L&T Finance Holdings, says she expects RBI chief Raghuram Rajan to cut repo rate by 25 bps today but the policy statement is going to be hawkish and the central bank may go for a long pause after that.
6) Even if the RBI positively surprises the Street, markets may sideways in the near term due to Bihar (state) elections and upcoming results season, say analysts.
7) Rate sensitive stocks such as banking, auto and realty stocks are likely to be in focus today in view of the RBI's policy meet.
8) Metal and oil & gas stocks are likely to come under strong selling pressure following a selloff in commodities in global markets. Shares of global mining giant Glencore fell nearly 30 per cent in London market.
9) Chinese industrial companies' profits fell at their fastest rate in four years, sparking fresh fears about the strength of that country's economy.
10) In Asian markets, Hong Kong's Hang Seng slumped 3.5 per cent, Japan's Nikkei plunged 2.7 per cent and China's Shanghai Composite fell 1.8 per cent. On Wall Street, the Dow industrial average fell nearly 2 per cent.
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