Flat start on the cards; RBI policy in focus

The Indian markets may begin the trade on a flat note ahead of RBI policy today. SGX Nifty is trading 1.00 point higher.

Events for the day

RBI monetary policy review today

Indian Indices:

After seeing yesterday’s strong movement, the Indian markets may open on a flat to positive note tracking Asian cues and on account of SGX Nifty trading 1.00 point higher.

Markets are also keenly awaiting Rajan’s first monetary policy review that will decide market movement for the day.

On Thursday (September 19, 2013) Sensex closed at 20,646.64, up by 684.48 points, while the Nifty rose by 216.10 points to close at 6,115.55.

Global Market

Asian shares paused on Friday as investors sat back to ponder the US Federal Reserve’s policy outlook, a day after the world’s most powerful central bank triggered a global rally in riskier asset markets with an unexpected decision to maintain its stimulus program.

US stocks retreated slightly on Thursday (September 19, 2013) as investors paused after the Federal Reserve’s decision to keep its stimulus intact sparked a rally that lifted the Dow and S&P 500 to record highs.

European markets finished solidly in positive territory on Thursday, after the Federal Reserve’s surprising announcement late Wednesday.

Major Headlines of the day

Power Grid hikes capex for 2012-17 by Rs10,000 cr.

RIL may arrest decline in gas output from KG-D6 field.

FIPB clears Axis Bank’s proposal to raise FDI limit beyond 49%.

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