Sensex, on Monday closed 17 points up at 28,352 due to profit booking by investors. Among sectors, Power, Technology and IT gained over 0.4% to 0.9% each. Among stocks, M&M, Infosys and Power grid gained over 1.5% to 1.6% each. Market breadth was negative with 1,819 declines against 1,053 advances.
Nifty closed 12 points up at 8,805. Today, we expect markets to open positive amid positive global cues.
US Markets closed on a mixed note. Dow closed flat while Nasdaq closed 0.5% higher. U.S. stocks climbed, following fresh record highs for benchmark indexes on Friday, as banks rallied and investors continued to assess corporate earnings that are posting the best growth since 2014. US markets, today, will see data releases on NFIB Small Business Index, PPI m/m, Core PPI m/m, Fed Chair Yellen Speaks, Fed Monetary Policy Report and FOMC Member Kaplan Speaks.
Asian markets are trading on a mixed note; Nikkei is trading 0.2% lower and Hang Seng is trading flat. SGX Nifty is trading 21 points up at 8,842. Indian ADRs ended the day on a mixed note. Among financial ADRs, ICICI Bank closed 0.6% lower, while HDFC Bank closed flat. Among IT ADRs, Wipro closed 1.2% higher and Infosys gained 1.0%. Tata Motors ADR closed 1.8% down.US Markets closed on a mixed note. Dow closed flat while Nasdaq closed 0.5% higher. U.S. stocks climbed, following fresh record highs for benchmark indexes on Friday, as banks rallied and investors continued to assess corporate earnings that are posting the best growth since 2014. US markets, today, will see data releases on NFIB Small Business Index, PPI m/m, Core PPI m/m, Fed Chair Yellen Speaks, Fed Monetary Policy Report and FOMC Member Kaplan Speaks.
The yield on the benchmark 10-year government bond increased to 6.805% in the week ended February 10 compared to 6.41% in the previous week.
Reserve Bank of India's Repo Rate
Call money rates increased to 6.11% last week and remained below the Reserve Bank of India’s (RBI) repo rate due to the central bank conducting reverse repos to narrow the liquidity surplus. Further, traders fear that state loans and likely UDAY bond auction will put pressure on liquidity.
Indian government bond prices declined last week by 2.70%, as the RBI’s Monetary Policy Committee (MPC) kept the key interest rates unchanged amid concern that inflation may accelerate in the coming months. The MPC changed its policy stance from “accommodative” to “neutral” on uncertainty about the inflation trajectory going forward. The MPC cited higher crude oil prices, a volatile exchange rate and fuller effects of house rent allowances under the 7th Central Pay Commission recommendations as upside risks to inflation projections. Further, Indian bond yields tracked a pull-back in the US bond yields.
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