Rate-sensitive stocks will be in focus ahead of the RBI policy review meet
Markets are likely to open weak amid weak global cues and mixed trends in their Asian peers. Trading may turn volatile ahead of the RBI policy review meet scheduled later today.
At 8:22AM, the early indicator SGX Nifty was down 33 points at 8,566.
Japanese shares are trading flat after a weak opening as yen started to strengthen against US Dollar and crude oil prices rebounded. Japanese traders largely shrugged off the downgrade of Japan’s sovereign debt rating by Moody’s.
Chinese shares are trading mixed. Hang Seng index is trading flat with a positive bias while Shanghai Composite index has declined around 0.3%
Overnight, US markets ended weak in a broad-based decline with the S&P 500 suffering its biggest one-day drop in more than a month. Weak global cues and a tepid start to the holiday shopping season dragged the US markets.
The Dow Jones industrial average fell 0.3% to 17,776.9, the S&P 500 declined 0.7% to 2,053.44 and the Nasdaq Composite dropped 64.28 points 1.3% to 4,727.35.
Stocks to Watch
Infosys will be in focus as the stock turns ex-bonus today.
RIL may witness fresh buying as Fitch Ratings revised its outlook on the company citing a better than expected show by its US shale gas business, which offset the dip in the domestic exploration business.
Rate-sensitive stocks- auto, banks and realty- may come under pressure if the central bank refuses to cut key interest rates till structural decline in inflation becomes visible.
M&M may come under pressure after reporting a 13% decline in total car sales numbers in November, 2014 compared to same month last year.
Read more on:
Copy tiny URL to save and share article.