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Markets Open in Green After Yesterday’s Pull
Indian markets defied the previous session’s surprise
gravitational pull and opened in the green, inspite of the
SGX indicating a continuation of the weakness from the
previous evening.
Leading the pullback, surprisingly, were some heavy
weighted banking
stocks
in
the
NIFTY, on the back
of expectation of a
CRR cut in the RBI
policy
announcement
that is due in a
couple of hours from now. While the broad consensus is
that RBI Governor Dr. Rajan, is most likely to continue his
stance to rein in inflation, there is a growing lobby of
expectation that he would start doing something to prod
growth too through the monetary policy route.
Defensive such as the leading PHARMA and FMCG stocks
buoyed by announcement of good earnings are also
seeing some buying in an otherwise buying-averse
market. Global cues that have softened overnight, are
likely to give direction to our market as well, beyond the
impact of the RBI Policy announcement. Markets are
expected to be range bound, with a strong –ve bias for
the rest of the week.
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Markets Open in Green After Yesterday’s Pull

  • 1. Markets Open in Green After Yesterday’s Pull Indian markets defied the previous session’s surprise gravitational pull and opened in the green, inspite of the SGX indicating a continuation of the weakness from the previous evening. Leading the pullback, surprisingly, were some heavy weighted banking stocks in the NIFTY, on the back of expectation of a CRR cut in the RBI policy announcement that is due in a couple of hours from now. While the broad consensus is that RBI Governor Dr. Rajan, is most likely to continue his stance to rein in inflation, there is a growing lobby of expectation that he would start doing something to prod growth too through the monetary policy route. Defensive such as the leading PHARMA and FMCG stocks buoyed by announcement of good earnings are also
  • 2. seeing some buying in an otherwise buying-averse market. Global cues that have softened overnight, are likely to give direction to our market as well, beyond the impact of the RBI Policy announcement. Markets are expected to be range bound, with a strong –ve bias for the rest of the week. Catch Sachin Karpe – A Business Consultant @ https://www.facebook.com/sachin.karpe.9638 Follow Sachin Karpe @ https://twitter.com/Karpe_Sachin Websites : http://sachinkarpe.in/ http://sachinkarpe.org http://sachinkarpe.net