Markets to remain volatile

The Indian markets are set to begin today’s trading session on a flat note led by mixed global cues. SGX Nifty is trading 49.50 points higher.

Indian Indices:

The Indian equities may begin today’s trading session on a flat note tracking mixed global cues. SGX Nifty is trading 49.50 points higher.

The Reserve Bank of India on Monday cut a key overnight interest rate, the RBI reduced the marginal standing facility (MSF) rate by 50 bps to 9% from 9.5% with immediate effect. The MSF cut will ease short-term rates and companies are likely to borrow from the commercial paper (CP) market instead of banks.

On Monday (October 07, 2013) S&P BSE Sensex fell 20.85 points to close at 19895.10 while Nifty slipped 1.15 points to end at 5906.15.

Global Market

Asian share indices were trading mixed today (October 08, 2013) as the partial US federal government shutdown which continued for the second week weighed on investor sentiment.

US stocks declined on Monday (October 07, 2013), with the S&P 500 index closing at a four-week low, as a stalemate on Capitol Hill over preventing a government default persisted.

European stocks drifted lower in thin trading volumes on Monday (October 07, 2013) as the US budget impasse kept investors on edge, sending a benchmark index to a one-month closing low.

Major Headlines of the day

RCom offers 84% cut on call tariff on intl roaming to Saudi.

GSK Pharma says sales continue to be hit due to trade issues.

Canara Bank targets Rs100 cr income from bancassurance.

SGX Nifty

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