Markets likely to open lower; RBI policy meet eyed

Indian Indices:

The key domestic benchmarks are likely to open lower tracking a bearish trend in most Asian markets. SGX Nifty is trading 23.50 points down.

Caution will persist as the RBI announces its monetary policy decision today.

Indian Shares fell on Monday as rate-sensitive firms such as ICICI Bank Ltd(ICBK.NS) fell a day ahead of the Reserve Bank of India’s policy review, although exporters gained after the rupee weakened.

On Monday (September 29, 2014) 30-share Sensex ended down 29.21 points at 26597.11 and the 50-share Nifty ended down 9.95 points at 7958.90.

Global Market:

Asian markets were in hesitant mood on Tuesday as investors wondered what China’s response would be to civil unrest in Hong Kong, while the U.S. dollar was on track to post its biggest monthly gain in well over a year.

US stocks ended lower on Monday following protests in Hong Kong that added to worries about Chinese growth and after a disappointing forecast from Ford Motor Co

HSBC, LVMH and other companies exposed to Hong Kong underperformed a broader drop in European stock markets on Monday as civil unrest in the Asian city continued.

Major Headlines of the day.

Bhushan Steel’s cup of woes.

HDIL promoters revoke all pledged shares.

Srei Infra to raise up to Rs1,500 crore through bonds.

NTPC ties up $ 250 million loan with Mizuho Bank.

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