Wednesday 8 February 2017

Opening Bell - Markets opens cautious ahead of RBI's monetary policy review

At 9:15 AM, the BSE Sensex opened higher by 50.92 points at 28386.08, while the Nifty50 opened higher by 6.25 points at the 8774.55 mark.
 
The rupee opened higher at 67.38 per dollar as against previous close of 67.41 per dollar.
 
There are 950 advances, 451 declines and 463 unchanged stocks on NSE reflecting positive bias floating in the market.
 
There are almost 180 firms that are going to announce their Q3 results. Hero MotoCorp, NTPC, Cipla, Bharat Forge, Tata Chemicals, United Breweries and City Union Bank are some of the companies that would be in focus on Wednesday’s trading session.

 
All eyes would be on the outcome of the Reserve Bank of India’s policy review, which will be announced at 2:30 p.m. today. The monetary policy committee headed by the RBI governor is expected to cut interest rates by 25 basis points, according to a poll of economists conducted by BloombergQuint.
 
The European markets closed on February 7 with mixed feelings. FTSE 100 closed at 7186.22 levels gaining 0.2%, CAC 40 of France closed at 4754.47 levels, down by 23.61 points or 0.5%, German DAX closed at 11549.44 levels, up by 39.6 points or 0.34%.
 

Nikkei 225 is trading higher by 8.59 points, Shanghai composite index is trading lower by 14 points, SGX Nifty is trading at 8805.50 levels, up by 6 points or 0.07%.

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