Markets open marginally higher in early trade
28/09/2016 09:27
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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The key domestic benchmark indices opened marginally higher in the morning trading session tracking a mixed trend across markets in Asia as traders remained cautious ahead of an OPEC meet which is unlikely to result in any substantial measures to address an ongoing crude oil global supply glut, limiting the gains on the bourses.
Volatility may remain high at the domestic bourses as traders roll over their positions ahead of the September futures & options (F&O) contracts expiry tommorrow.
Caution is also likely to persist ahead of the upcoming monetary policy review of the RBI on Tuesday with a 25 basis points cut in interest rates a possibility given the dip in consumer inflation to below the upper tolerance limit of the government’s annual inflation target of 4 per cent plus or minus 2 percentage points.
On the global front, Asian stocks were trading mixed today amid fading hopes of an output cut at a meeting of OPEC countries on Wednesday. US stocks closed higher in the previous trading session as US consumer confidence scaled a nine-year high in September, bolstering the outlook for the world’s biggest economy.
28/09/2016 09:27
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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The key domestic benchmark indices opened marginally higher in the morning trading session tracking a mixed trend across markets in Asia as traders remained cautious ahead of an OPEC meet which is unlikely to result in any substantial measures to address an ongoing crude oil global supply glut, limiting the gains on the bourses.
Volatility may remain high at the domestic bourses as traders roll over their positions ahead of the September futures & options (F&O) contracts expiry tommorrow.
Caution is also likely to persist ahead of the upcoming monetary policy review of the RBI on Tuesday with a 25 basis points cut in interest rates a possibility given the dip in consumer inflation to below the upper tolerance limit of the government’s annual inflation target of 4 per cent plus or minus 2 percentage points.
On the global front, Asian stocks were trading mixed today amid fading hopes of an output cut at a meeting of OPEC countries on Wednesday. US stocks closed higher in the previous trading session as US consumer confidence scaled a nine-year high in September, bolstering the outlook for the world’s biggest economy.
