Pre Session- Cautious opening on the cards as RBI eyed
02/12/2014 08:37
The key domestic benchmarks are likely to open on a subdued note today amid a mixed trend in fellow Asian stocks and a bearish closing at Wall Street overnight as investors digest weak global factory data. Further, caution ahead of the RBI monetary policy decision today may keep investors on the sidelines in early trade with the apex bank likely to maintain status quo and refrain from an interest rate cut. However, the central bank is expected to sound more dovish amid a decline in inflationary pressures and slowing economic growth. Upbeat factory data which showed that India’s manufacturing activity expanded at the fastest clip since February 2013 last month signals that the country’s factory slowdown has bottomed out, lifting economic outlook, supporting sentiment. China’s Shanghai Composite and Hang Seng logged slim gains despite concerns over China’s economic outlook after HSBC said that manufacturing failed to grow last month. Japan’s Nikkei 225 was trading tad lower after Moody’s cut the rating of the world’s third biggest economy by one notch to A1.
02/12/2014 08:37
The key domestic benchmarks are likely to open on a subdued note today amid a mixed trend in fellow Asian stocks and a bearish closing at Wall Street overnight as investors digest weak global factory data. Further, caution ahead of the RBI monetary policy decision today may keep investors on the sidelines in early trade with the apex bank likely to maintain status quo and refrain from an interest rate cut. However, the central bank is expected to sound more dovish amid a decline in inflationary pressures and slowing economic growth. Upbeat factory data which showed that India’s manufacturing activity expanded at the fastest clip since February 2013 last month signals that the country’s factory slowdown has bottomed out, lifting economic outlook, supporting sentiment. China’s Shanghai Composite and Hang Seng logged slim gains despite concerns over China’s economic outlook after HSBC said that manufacturing failed to grow last month. Japan’s Nikkei 225 was trading tad lower after Moody’s cut the rating of the world’s third biggest economy by one notch to A1.
