Markets to open flat; RBI policy eyed

Indian Indices:

The key benchmark indices are likely to witness a lacklustre opening today as investors will remain on the sidelines ahead of the RBI’s policy review, which is scheduled later in the day. SGX Nifty is trading 2.50 points higher.

Market expects RBI to keep the rates unchanged; however, any deviation is likely to result in market volatility.

Indian shares ended higher on Monday, snapping two days of falls as software services exporters such as Infosys rallied on a weaker rupee while lenders gained a day before the central bank’s policy review.

On Monday (August 04, 2014) Sensex closed at 25723.16, up by 242.32 points, while the Nifty rose 81.05 points to close at 7683.65

Global Market:

Asian stocks slipped on Tuesday after a survey showed China’s services sector growth fell to a record low, pouring cold water on the positive market mood following upbeat U.S. earnings and relief over Portugal’s rescue of its largest bank.

A drop in the German and Swiss stock exchanges weighed on European shares on Monday, as the economic impact of sanctions against Russia offset some relief over a Banco Espirito Santo rescue deal.

U.S. stocks rallied on Monday and recouped some of the heavy losses from last week’s rout, but investors remained cautious over the timing of the Federal Reserve’s interest-rate hikes.

Major Headlines of the day.

ITC hikes cigarette prices by up to 23%

ING Vysya Bank seeks to raise up to Rs 700 cr

Jet Airways adds flights on AirAsia routes

SGX Nifty

sgxnifty.org@imediaone.com

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