Highlights of share market participants' poll after RBI rate hike
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K.Karthik Raja
Jun 25, 2008, 12:33:09 AM6/25/08
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Highlights of share market participants' poll after RBI rate hike
Wednesday, Jun 25
MUMBAI - Highlights of a poll of 15 share market participants on
how market would trade after Reserve Bank of India Tuesday raised its
repo rate 50 basis points to 8.50%, and also announced a 50-bps
increase in banks' cash reserve ratio to 8.75% in two stages to curb
inflation.
.
* Share market to open down 2% on RBI rate hike, political
concerns.
* Weak overseas markets to also weigh on local shares.
* Hedge funds, mutual funds place "limit buy" orders at 4,050-
level on Nifty.
* Nifty support seen at 4000 pts, Sensex support 13500.
* Share prices could recover in late trade on short covering.
* FIIs seen largely sellers ahead of U.S. Fed rate meet outcome.
* Bank, realty, auto shares seen down, some recovery seen later.
Wednesday, Jun 25
MUMBAI - Highlights of a poll of 15 share market participants on
how market would trade after Reserve Bank of India Tuesday raised its
repo rate 50 basis points to 8.50%, and also announced a 50-bps
increase in banks' cash reserve ratio to 8.75% in two stages to curb
inflation.
.
* Share market to open down 2% on RBI rate hike, political
concerns.
* Weak overseas markets to also weigh on local shares.
* Hedge funds, mutual funds place "limit buy" orders at 4,050-
level on Nifty.
* Nifty support seen at 4000 pts, Sensex support 13500.
* Share prices could recover in late trade on short covering.
* FIIs seen largely sellers ahead of U.S. Fed rate meet outcome.
* Bank, realty, auto shares seen down, some recovery seen later.
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