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Key benchmark indices are likely to open lower on the back of weak
global cues. US stocks fell yesterday as disappointing forecasts from
technology companies brought new concerns about the economy. Asian
stock markets also struggled, following the negative lead from Wall
Street as poor earnings outlooks for a few U.S. companies dented
optimism about a recovery in the world's biggest economy. Investors
may remain cautious ahead of Reserve Bank of India's quarterly
monetary policy due to be announced today. Market men expect that RBI
will hike cash reserve ratio (CRR) requirements by 50 basis points in
its monetary policy review scheduled to be announced today, 29 January
2010.
According to data released by the NSE, in the last session, FIIs were
net buyers of index futures to the tune of Rs 1590 crore, while they
sold index options worth Rs 693.68 crore. They were net buyers of
stock futures to the tune of Rs 1089.40 crore and bought stock options
worth Rs 82 crore.
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finance
finance
Key benchmark indices are likely to weak start as global cues continue
to weigh on sentiment. Asian stock markets were trading weak with
investors tracking cues from Wall Street, where stocks declined by
notably margins on Friday amid concerns over the pace of economic
recovery. The Reserve Bank of India on Friday hiked the Cash Reserve
Ratio by 75 basis points to 5.75%, to absorb Rs.36,000 crore of excess
liquidity from the system. Meanwhile, shares of auto, cement, steel
firms will be in focus as the companies release monthly sales volume
for January 2010.
According to data released by the NSE, in the last session, FIIs were
net sellers of index futures to the tune of Rs 430.22 crore, while
they bought index options worth Rs 1,029.76 crore. They were net
sellers of stock futures to the tune of Rs 119.18 crore while bought
stock options worth Rs 9.87 crore.
More details http://www.16anna.com