Cautious opening on the cards as RBI eyed

Indian Indices:

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. SGX Nifty is trading 30 points lower.

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.

India’s NSE index retreated from a record high on Monday as blue-chips fell on risk aversion in global markets after gold and oil tumbled, while caution also prevailed a day ahead of the central bank’s policy review. The BSE Sensex and the CNX Nifty ended 0.47%-0.38% lower each.

On (Monday 01, 2014), 30-share Sensex ended down 134 points at 28,560 and the 50-share Nifty ended down 32 points at 8,556 after hitting a record high of 8,623.

Global Market:

Asian equities were mixed on Tuesday, with a rebound in crude oil and other commodity prices favoring the stock markets of resource-exporting countries, while the likes of Tokyo’s Nikkei struggled.

European shares fell on Monday, led lower by oil and mining stocks, as weak Chinese and euro zone economic data fuelled a rout in the commodities market.

US stocks fell in a broad decline on Monday, with the S&P 500 suffering its biggest one-day drop in more than a month, as economic data indicated weakness across the globe and the holiday shopping season got off to a tepid start.

Major Headlines of the day:

Maruti calls back 3,796 units of Ciaz to fix clutch part.

MRF to invest around Rs4,000 crore in next 3 yrs.

TVS Motor sales jump 36% in November.

SGX Nifty

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