INDIAN FACE
· BSE SENSEX and NIFTY traded positive on THURSDAY as it was a follow up rally driven over the hope reserve Bank of India may cut repo rate by 50 basis points instead of 25 basis points and the infrastructure targets set by Prime Minister Man Mohan Singh after the meeting.
· Appreciating rupee was another factor which fuelled the fire further as gains 34 paise to 55.02 against the DOLLAR.
· However the gains were led by banking stocks along with Oil & Gas, Capital goods, Metal and Auto sector while Wipro, Gail and Power Grid Corporation traded under pressure.
GLOBAL FACE
· Asian stock markets traded higher on the session as European policy makers are seeking a solution to solve Spanish bank’s financial crises amid hopes rose for fresh monetary policy stimulus for world’s major economies.
· European stock markets traded higher in greens jumped more than 1.5 percent, as investors eyed that European policy makers may take further measures to boost up the global economy growth. FTSE, DAX and CAC traded 1.53%, 1.57% and 1.13% up respectively.
· U.S. Stock index futures traded higher and held their gains after surprising moves taken by CHINA. Chinese Central Bank announced that it will cut its interest rates by 25 basis points.
0 comments:
Post a Comment