Pre Session: Muted opening on the cards for D-Street; RBI policy eyed
04/10/2016
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Indian equity benchmarks are likely to witness a subdued opening on Tuesday ahead of the Reserve Bank of India's policy review later in the day, tracking a muted trend across markets in Asia amid worries over the health of German lender Deutsche Bank and renewed concerns about the UK's exit from the European Union. Losses in the SGX Nifty Index Futures for October delivery which were trading at 8,783.50, down by 4.5 points at 10:38 AM Singapore time, signal that the Sensex may open lower today. At the same time, caution ahead of Tuesday’s keenly awaited RBI monetary policy review which will be the first one for new governor Urjit Patel may also weigh on the Sensex. Traders are hoping that the newly constituted Monetary Policy Committee (MPC) headed by Patel may cut interest rates by 25 bps amid the recent dip in consumer inflation.
On Monday, the Indian stocks ended higher, helped by value buying in frontline stocks, in anticipation of a rate cut by the Reserve Bank of India (RBI) tomorrow. Besides rate cut hopes, positive global cues and steps taken by India and Pakistan to ease military tensions also boosted market sentiment. The 30-share BSE SENSEX closed at 28243.29, up by 377.33 points or by 1.35 per cent, and the NSE Nifty ended at 8738.1, up by 126.95 points or by 1.47 per cent.
04/10/2016
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Indian equity benchmarks are likely to witness a subdued opening on Tuesday ahead of the Reserve Bank of India's policy review later in the day, tracking a muted trend across markets in Asia amid worries over the health of German lender Deutsche Bank and renewed concerns about the UK's exit from the European Union. Losses in the SGX Nifty Index Futures for October delivery which were trading at 8,783.50, down by 4.5 points at 10:38 AM Singapore time, signal that the Sensex may open lower today. At the same time, caution ahead of Tuesday’s keenly awaited RBI monetary policy review which will be the first one for new governor Urjit Patel may also weigh on the Sensex. Traders are hoping that the newly constituted Monetary Policy Committee (MPC) headed by Patel may cut interest rates by 25 bps amid the recent dip in consumer inflation.
On Monday, the Indian stocks ended higher, helped by value buying in frontline stocks, in anticipation of a rate cut by the Reserve Bank of India (RBI) tomorrow. Besides rate cut hopes, positive global cues and steps taken by India and Pakistan to ease military tensions also boosted market sentiment. The 30-share BSE SENSEX closed at 28243.29, up by 377.33 points or by 1.35 per cent, and the NSE Nifty ended at 8738.1, up by 126.95 points or by 1.47 per cent.
