INDIAN BENCHMARKS may see a lower opening; RBI Policy eyed
Indian shares poised to open loweras traders resort to a cautious approach ahead of the much anticipated Reserve Bank of India (RBI) monetary policy review while a bearish trend across markets in Asia amid falling oil prices may also sour risk taking appetite. SGX Nifty is trading 61 points lower. Rate sensitive sectors including auto and banking will be in focus today. Indian shares rose on Monday, tracking gains in Asian equities following an upbeat US jobs report, but caution prevailed a day before the Reserve Bank of India's policy meeting at which it is expected to cut interest rates by at least 25 basis points. The S&P BSE Sensex and CNX Nifty ended 0.51%-0.59% higher each. On Monday (April 05, 2016), the BSE SENSEX closed at 25399.65, up by 130.01 points, or by 0.51%, and the NSE Nifty ended at 7758.80, gained by 45.75 points, or by 45.75%.
• Asian shares and other riskier assets skidded on Tuesday, pressured by slumping crude oil prices and mixed messages from Federal Reserve policymakers on the outlook for U.S. interest rate rises.
• US stocks slumped on Monday as losses for industrials and materials offset sharp gains in health-care shares.
• European shares bounced back from one-month lows on Monday, led higher by gains in defensive stocks, but telecoms fell after talks between Orange and Bouygues on creating a dominant French operator collapsed.
Major Headlines of the day:
Cox & Kings sells majority stake in UK portals.
Adani mulls takeover of SunEdison's India assets.
ICICI Bank tweaks corporate lending norms to trim NPAs.
Trend in FII flows: The FIIs were net sellers of Rs -236.82 Cr in the cash segment on Monday while the DIIs were net buyers of Rs -333.74 Cr, as per the provisional figures released by the NSE.