The markets are trading with modest gain ahead of credit policy announcement. Buying interest seen in metal, pharma, consumer durable, auto stocks
At 10.36 am, the Sensex was up 29.68 points or 0.17% at 17045.64, and the Nifty was down 0.65 points or 0.01% at 5089.00.
About 1563 shares have advanced, 1291 shares declined, and 226 shares are unchanged.
Top gainers on the bourses are Tata Steel, Jaiprakash Asso, Ranbaxy Labs, Dr Reddys Labs and Tata Comm.
Top losers on the Sensex Bharti Airtel, BHEL and Infosys.
Most active shares on BSE are Rel Capital, Glenmark and Sesa Goa.Market opens flat; Siemens, Rel Energy up
The markets have opened flat ahead of RBI credit policy annoucement. Relaince Energy, Idea Cellular, Tata Steel, Power Grid, Nalco witnessing buying interest.
Siemens was up 5% on the back of good results and approved bonus
At 9.56 am, the Sensex was up 60 points at 17075, and the Nifty up 15 points at 5104.
US markets finished flat as concerns about the Federal Reserve's rate decision kept a lid on activity. Wrigley shares soared 23% on news that Buffett is teaming up with Candy Maker Mars to buy the gum maker for 22 billion dollars.
The Interest-rate decision and Friday's Nonfarm Payroll Data are likely to dominate the market sentiment as the week progresses.
The Dow Jones industrial average slipped 20.11 points, or 0.16%, to 12,871.75. The Standard & Poor's 500 index fell 1.47 points, or 0.11%, to 1,396.37, and the Nasdaq composite index gained 1.47 points, or 0.06%, to 2,424.40.
Asian markets trading mixed. Hong Kong's Hang Seng gained 0.28% 75.05 points at 25,738.34. However, Taiwan's Taiwan Weighted declined 0.25% or 18.05 points at 9,057.34. Singapore's Straits Times 0.77% or 24.64 points at 3,176.99. South Korea's Seoul Composite fell 0.45% or 8.14 points at 1,815.03.
Market cues:
RBI to present monetary policy today
CNBC-TV18 poll says repo rate hike likely
FIIs net buy $86.5 m in equity on Apr 25
MFs net sell Rs 73.4 cr in equity on Apr 25
NSE F&O Open Interest up by Rs 1,625 crore at Rs 55,798 crore
F&O cues:
Nifty Futures turnover at Rs 7,552 cr vs avg of Rs 14,720 cr
Stock Futures turnover at Rs 14,644 cr Vs avg of Rs 16,620 cr
Futures Open Int up by Rs 542 crore, Options Open Int up by Rs 1,083 crore
Nifty Futures add 7 lakh shares in OI, at 17-pt premium
Nifty Open Interest PCR at 1.37 Vs 1.40
Nifty Puts, Calls add 7 lakh shares each in Open Interest
Nifty 4800 Put adds 2.4 lakh shares in Open Interest
Nifty 5000 Put adds 1.6 lakh shares in Open Interest
Nifty 5100 Call adds 2.5 lakh shares in Open Interest
Nifty 5200 Call adds 1.2 lakh shares in Open Interest
Stock Futures add 74 lakh shares in Open Interest
Indian Stock NSE ,MCX,Ncdex,Forex,Comex Mareket Updates
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Disclaimer
2008-04-28
RBI may hike repo, reverse repo rates: Experts
RBI is meeting on April 29 for crucial monetary policy review. Question uppermost on everybody's mind now is if the central bank will go ahead and hike further rates or will it not touch rates now as it does not want to risk growth. Industry expert AK Purwar and Sr Economist at ABN AMRO Bank Gaurav Kapur says the current situation warrants a repo and reverse repo rate hikes.
AK Purwar said the RBI needs to balance global and Indian differential interest rates and take into account the impact on investments if a hike comes into force.
Repo rate hike, Reverse repo rate hike or both
Purwar says the kind of inflation numbers which are there warrants an upward pressure on the interest rates. But it has to be very carefully balanced between the interest rates in India and prevailing rates globally. Most importantly, in the last three or more years, the interest rates to actual borrowers have almost gone up by 4%-5%. The kind of impact (a further interest rate hike) will have on investments, on project finances etc will also have to be factored in by the RBI before they can take a view. But definitely there is an upward pressure on the interest rates, he asserts.
While, Gaurav Kapur feels a 25 basis point hike in the repo rate is pretty much on the cards because the CRR hike is not enough to control inflation. "Inflation can spiral to even higher levels from here on as we get into June-September. It’s a seasonal pattern which plays out, so at this stage, a repo rate hike is warranted although it could have an adverse impact on growth. But to my mind I think, perhaps you need growth to slow down for inflation to come down because even after taking into account the supply side pressures, the demand side in certain industries is still quite strong." He also says there is a very low probability on the reverse repo rate hike as well.
On reaction from banks
Purwar says in case there is a repo rate hike, banks can push up their rates by 0.25% or 0.5%. "Some institutions may take the advantage of increasing it further, particularly on the discretionary loan side," he argues. However, if there is no outward pressure, there would not be much justification in raising the lending rates, he said.
On chance of RBI going for a rate hike later
Kapur says there is a possible scenario that the RBI will watch the commodity prices for a next couple of months before pulling the trigger. He says, " ...that will actually put in a lot of uncertainty in the market because at this point in time, you need the Central Bank to very clearly state what and how it wants to basically attack the problem of inflation." Hoever he thinks 29th meeting being annual policy meet, it would be better hike rates now than postpone it for later stage and see how the commodity prices move. "It's purely a timing issue; This is perhaps a better stage and a better time for the RBI to very clearly guide the participants in the market and the economy in general as to what to expect from interest rates, what is its assessment of the inflation, what does the Central Bank think of growth stc," he says.
Have markets factored in a repo rate hike?
Dhawal Dalal, Fund Manger, DSP Merrill Lynch, said the market has already factored in a repo rate hike. "Once it is been delivered, I will not be surprised to see a relief rally coming into the market."
AK Purwar said the RBI needs to balance global and Indian differential interest rates and take into account the impact on investments if a hike comes into force.
Repo rate hike, Reverse repo rate hike or both
Purwar says the kind of inflation numbers which are there warrants an upward pressure on the interest rates. But it has to be very carefully balanced between the interest rates in India and prevailing rates globally. Most importantly, in the last three or more years, the interest rates to actual borrowers have almost gone up by 4%-5%. The kind of impact (a further interest rate hike) will have on investments, on project finances etc will also have to be factored in by the RBI before they can take a view. But definitely there is an upward pressure on the interest rates, he asserts.
While, Gaurav Kapur feels a 25 basis point hike in the repo rate is pretty much on the cards because the CRR hike is not enough to control inflation. "Inflation can spiral to even higher levels from here on as we get into June-September. It’s a seasonal pattern which plays out, so at this stage, a repo rate hike is warranted although it could have an adverse impact on growth. But to my mind I think, perhaps you need growth to slow down for inflation to come down because even after taking into account the supply side pressures, the demand side in certain industries is still quite strong." He also says there is a very low probability on the reverse repo rate hike as well.
On reaction from banks
Purwar says in case there is a repo rate hike, banks can push up their rates by 0.25% or 0.5%. "Some institutions may take the advantage of increasing it further, particularly on the discretionary loan side," he argues. However, if there is no outward pressure, there would not be much justification in raising the lending rates, he said.
On chance of RBI going for a rate hike later
Kapur says there is a possible scenario that the RBI will watch the commodity prices for a next couple of months before pulling the trigger. He says, " ...that will actually put in a lot of uncertainty in the market because at this point in time, you need the Central Bank to very clearly state what and how it wants to basically attack the problem of inflation." Hoever he thinks 29th meeting being annual policy meet, it would be better hike rates now than postpone it for later stage and see how the commodity prices move. "It's purely a timing issue; This is perhaps a better stage and a better time for the RBI to very clearly guide the participants in the market and the economy in general as to what to expect from interest rates, what is its assessment of the inflation, what does the Central Bank think of growth stc," he says.
Have markets factored in a repo rate hike?
Dhawal Dalal, Fund Manger, DSP Merrill Lynch, said the market has already factored in a repo rate hike. "Once it is been delivered, I will not be surprised to see a relief rally coming into the market."
Mkt trades choppy; Cap goods, IT down
The markets are trading choppy on negative bias. Selling pressure is seen in capital goods, bank, IT, oil & gas and power space. However, the midcaps and smallcaps are trading with marginal gains.
At 10.28 hrs IST, the Sensex was down 59.84 points or 0.35% at 17066.14, and the Nifty was up 5.15 points or 0.10% at 5116.85.
About 1518 shares have advanced, 1335 shares declined, and 225 shares are unchanged.
SBI, Wipro, TCS, ABB and Siemens are the top losers on the bourses.
Mkt opens strong; Bank, metal surge
The markets have opened with strong gain and trading with modest gain. Bank, Teck, metal, stocks witnessing buying interest. ICICI Bank was up 8%.
At 09.56, the Sensex was up 145.58 points or 0.85% at 17271.56, and the Nifty was up 9.15 points or 0.18% at 5120.85.
About 1482 shares have advanced, 1388 shares declined, and 208 shares are unchanged.
Reliance Petroleum, Idea Cellular, HCL Technolofies, HDFC Bank were among major gainers.
Siemens, Sun Pharma were among major losers.
US market ended mixed. The Dow gained 43 points to close at 12,892 and the Nasdaq shut 6 points lower at 2,422. The S&P 500 closed almost 9 points higher at 1,397. On Friday leading the surge among financials was Fannie Mae and Freddie Mac.
Asian markets were trading firm. Japan's Nikkei advanced 0.75% or 104.63 points at 13,968.10. Hong Kong's Hang Seng 0.70% or 177.89 points at 25,694.67. Taiwan's Taiwan Weighted rose 0.415 or 36.87 points at 8,984.70. Singapore's Straits Times was up 0.62% or 19.71 points at 3,208.91. South Korea's Seoul Composite added 0.19% or 3.40 points at 1,828.08.
Market cues:
FIIs net buy $130.4 mn in equity
MFs net buy Rs 33.1 cr in equity
NSE F&O Open Interest up by Rs 4,921 crore at Rs 5,4172 cror
F&O cues:
Stock Futures add 6.5 cr shares in Open Interest on day 1 of new series
Futures Open Interest up by Rs 2,983 crore and Options Open Interest up by Rs 1938 crore
Nifty Futures add 11.7 lakh shares in Open Interest, at 14-point premium
Nifty Open Interest Put-Call ratio at 1.40 Vs 1.39
Nifty Puts add 18.5 lakh shares in Open Interest
Nifty Calls add 12.6 lakh shares in Open Interest
Nifty 5000 Put adds 4.5 lakh shares in Open Interest
Nifty 4900 Put adds 4.4 lakh shares in Open Interest
Nifty 5000 Call adds 2.4 lakh shares in Open Interest
At 10.28 hrs IST, the Sensex was down 59.84 points or 0.35% at 17066.14, and the Nifty was up 5.15 points or 0.10% at 5116.85.
About 1518 shares have advanced, 1335 shares declined, and 225 shares are unchanged.
SBI, Wipro, TCS, ABB and Siemens are the top losers on the bourses.
Mkt opens strong; Bank, metal surge
The markets have opened with strong gain and trading with modest gain. Bank, Teck, metal, stocks witnessing buying interest. ICICI Bank was up 8%.
At 09.56, the Sensex was up 145.58 points or 0.85% at 17271.56, and the Nifty was up 9.15 points or 0.18% at 5120.85.
About 1482 shares have advanced, 1388 shares declined, and 208 shares are unchanged.
Reliance Petroleum, Idea Cellular, HCL Technolofies, HDFC Bank were among major gainers.
Siemens, Sun Pharma were among major losers.
US market ended mixed. The Dow gained 43 points to close at 12,892 and the Nasdaq shut 6 points lower at 2,422. The S&P 500 closed almost 9 points higher at 1,397. On Friday leading the surge among financials was Fannie Mae and Freddie Mac.
Asian markets were trading firm. Japan's Nikkei advanced 0.75% or 104.63 points at 13,968.10. Hong Kong's Hang Seng 0.70% or 177.89 points at 25,694.67. Taiwan's Taiwan Weighted rose 0.415 or 36.87 points at 8,984.70. Singapore's Straits Times was up 0.62% or 19.71 points at 3,208.91. South Korea's Seoul Composite added 0.19% or 3.40 points at 1,828.08.
Market cues:
FIIs net buy $130.4 mn in equity
MFs net buy Rs 33.1 cr in equity
NSE F&O Open Interest up by Rs 4,921 crore at Rs 5,4172 cror
F&O cues:
Stock Futures add 6.5 cr shares in Open Interest on day 1 of new series
Futures Open Interest up by Rs 2,983 crore and Options Open Interest up by Rs 1938 crore
Nifty Futures add 11.7 lakh shares in Open Interest, at 14-point premium
Nifty Open Interest Put-Call ratio at 1.40 Vs 1.39
Nifty Puts add 18.5 lakh shares in Open Interest
Nifty Calls add 12.6 lakh shares in Open Interest
Nifty 5000 Put adds 4.5 lakh shares in Open Interest
Nifty 4900 Put adds 4.4 lakh shares in Open Interest
Nifty 5000 Call adds 2.4 lakh shares in Open Interest
29/04/2008 postion picks gold
MCX Sell Gold June at 11570 - 11580, S/l - 11606, T1 - 11525 & T2 - 11500(CMP - 11570)
Commoditiy Alert
FM cuts custom duty on steel and steel products from 5% to nil and imposes duty on exports of some steel product
Firm Markets
Markets have surged on the back of Repo and Reverse Repo remained unchanged by RBI. However, RBI hikes CRR by 25 BPS to 8.25%. On the sectoral front, metal and banking indices trading higher. The BSE mid-cap and small cap indices were trading marginally up.
At 12.23 pm, the Sensex was up 279.08 points or 1.64% at 17295.04, and the Nifty was up 65.30 points or 1.28% at 5154.95.
About 1670 shares have advanced, 1195 shares declined, and 215 Shares are unchanged.
Top gainers on the Sensex are HDFC, Tata Steel and Jaiprakash Asso.
Top losers on the Sensex Bharti Airtel, BHEL and Infosys.
Mkt trading with modest gains; Metal, pharma up over 1%
The markets are trading with modest gain ahead of credit policy announcement. Buying interest seen in metal, pharma, consumer durable, auto Stocks
At 10.36 am, the Sensex was up 29.68 points or 0.17% at 17045.64, and the Nifty was down 0.65 points or 0.01% at 5089.00.
About 1563 shares have advanced, 1291 shares declined, and 226 shares are unchanged.
Top gainers on the bourses are Tata Steel, Jaiprakash Asso, Ranbaxy Labs, Dr Reddys Labs and Tata Comm.
Top losers on the Sensex Bharti Airtel, BHEL and Infosys.
Most active shares on BSE are Rel Capital, Glenmark and Sesa Goa.Market opens flat; Siemens, Rel Energy up
The markets have opened flat ahead of RBI credit policy annoucement. Relaince Energy, Idea Cellular, Tata Steel, Power Grid, Nalco witnessing buying interest.
Siemens was up 5% on the back of good results and approved bonus
At 9.56 am, the Sensex was up 60 points at 17075, and the Nifty up 15 points at 5104.
US markets finished flat as concerns about the Federal Reserve's rate decision kept a lid on activity. Wrigley shares soared 23% on news that Buffett is teaming up with Candy Maker Mars to buy the gum maker for 22 billion dollars.
The Interest-rate decision and Friday's Nonfarm Payroll Data are likely to dominate the market sentiment as the week progresses.
The Dow Jones industrial average slipped 20.11 points, or 0.16%, to 12,871.75. The 500 index fell 1.47 Standard & Poor's points, or 0.11%, to 1,396.37, and the Nasdaq composite index gained 1.47 points, or 0.06%, to 2,424.40.
Asian markets trading mixed. Hong Kong's Hang Seng gained 0.28% 75.05 points at 25,738.34. However, Taiwan's Taiwan Weighted declined 0.25% or 18.05 points at 9,057.34. Singapore's Straits Times 0.77% or 24.64 points at 3,176.99. South Korea's Seoul Composite fell 0.45% or 8.14 points at 1,815.03.
Market cues:
RBI to present monetary policy today
CNBC-TV18 poll says repo rate hike likely
FIIs net buy $86.5 m in equity on Apr 25
MFs net sell Rs 73.4 cr in equity on Apr 25
NSE F&O Open Interest up by Rs 1,625 crore at Rs 55,798 crore
F&O cues:
Nifty Futures turnover at Rs 7,552 cr vs avg of Rs 14,720 cr
Stock Futures turnover at Rs 14,644 cr Vs avg of Rs 16,620 cr
Futures Open Int up by Rs 542 crore, Options Open Int up by Rs 1,083 crore
Nifty Futures add 7 lakh shares in OI, at 17-pt premium
Nifty Open Interest PCR at 1.37 Vs 1.40
Nifty Puts, Calls add 7 lakh shares each in Open Interest
Nifty 4800 Put adds 2.4 lakh shares in Open Interest
Nifty 5000 Put adds 1.6 lakh shares in Open Interest
Nifty 5100 Call adds 2.5 lakh shares in Open Interest
Nifty 5200 Call adds 1.2 lakh shares in Open Interest
Stock Futures add 74 lakh shares in Open Interest
At 12.23 pm, the Sensex was up 279.08 points or 1.64% at 17295.04, and the Nifty was up 65.30 points or 1.28% at 5154.95.
About 1670 shares have advanced, 1195 shares declined, and 215 Shares are unchanged.
Top gainers on the Sensex are HDFC, Tata Steel and Jaiprakash Asso.
Top losers on the Sensex Bharti Airtel, BHEL and Infosys.
Mkt trading with modest gains; Metal, pharma up over 1%
The markets are trading with modest gain ahead of credit policy announcement. Buying interest seen in metal, pharma, consumer durable, auto Stocks
At 10.36 am, the Sensex was up 29.68 points or 0.17% at 17045.64, and the Nifty was down 0.65 points or 0.01% at 5089.00.
About 1563 shares have advanced, 1291 shares declined, and 226 shares are unchanged.
Top gainers on the bourses are Tata Steel, Jaiprakash Asso, Ranbaxy Labs, Dr Reddys Labs and Tata Comm.
Top losers on the Sensex Bharti Airtel, BHEL and Infosys.
Most active shares on BSE are Rel Capital, Glenmark and Sesa Goa.Market opens flat; Siemens, Rel Energy up
The markets have opened flat ahead of RBI credit policy annoucement. Relaince Energy, Idea Cellular, Tata Steel, Power Grid, Nalco witnessing buying interest.
Siemens was up 5% on the back of good results and approved bonus
At 9.56 am, the Sensex was up 60 points at 17075, and the Nifty up 15 points at 5104.
US markets finished flat as concerns about the Federal Reserve's rate decision kept a lid on activity. Wrigley shares soared 23% on news that Buffett is teaming up with Candy Maker Mars to buy the gum maker for 22 billion dollars.
The Interest-rate decision and Friday's Nonfarm Payroll Data are likely to dominate the market sentiment as the week progresses.
The Dow Jones industrial average slipped 20.11 points, or 0.16%, to 12,871.75. The 500 index fell 1.47 Standard & Poor's points, or 0.11%, to 1,396.37, and the Nasdaq composite index gained 1.47 points, or 0.06%, to 2,424.40.
Asian markets trading mixed. Hong Kong's Hang Seng gained 0.28% 75.05 points at 25,738.34. However, Taiwan's Taiwan Weighted declined 0.25% or 18.05 points at 9,057.34. Singapore's Straits Times 0.77% or 24.64 points at 3,176.99. South Korea's Seoul Composite fell 0.45% or 8.14 points at 1,815.03.
Market cues:
RBI to present monetary policy today
CNBC-TV18 poll says repo rate hike likely
FIIs net buy $86.5 m in equity on Apr 25
MFs net sell Rs 73.4 cr in equity on Apr 25
NSE F&O Open Interest up by Rs 1,625 crore at Rs 55,798 crore
F&O cues:
Nifty Futures turnover at Rs 7,552 cr vs avg of Rs 14,720 cr
Stock Futures turnover at Rs 14,644 cr Vs avg of Rs 16,620 cr
Futures Open Int up by Rs 542 crore, Options Open Int up by Rs 1,083 crore
Nifty Futures add 7 lakh shares in OI, at 17-pt premium
Nifty Open Interest PCR at 1.37 Vs 1.40
Nifty Puts, Calls add 7 lakh shares each in Open Interest
Nifty 4800 Put adds 2.4 lakh shares in Open Interest
Nifty 5000 Put adds 1.6 lakh shares in Open Interest
Nifty 5100 Call adds 2.5 lakh shares in Open Interest
Nifty 5200 Call adds 1.2 lakh shares in Open Interest
Stock Futures add 74 lakh shares in Open Interest
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