Indian Indices:
Indian markets are likely to witness a subdued opening on Tuesday ahead of the Reserve Bank of India's policy review later in the day, tracking a muted trend across markets in Asia. SGX Nifty is trading 6.00 points down.
Caution ahead of Tuesday’s keenly awaited RBI monetary policy review which will be the first one for new governor Urjit Patel may also weigh on markets sentiment.
Indian shares rose more than 1% on Monday, posting their biggest gains in nearly a month, as expectations of a rate cut by the Reserve Bank of India lifted lenders, while auto stocks such as Maruti Suzuki rallied after reporting strong monthly sales. The S&P BSE Sensex and CNX Nifty rose 1.35%-1.47%.
On Monday (October 03, 2016), SENSEX closed at 28243.29, up by 377.33 points or by 1.35% and the NSE Nifty ended at 8738.10, up by 126.95 points or by 1.47%.
Global Market:
Asian shares wobbled on Tuesday after fading hopes for a reduced Deutsche Bank fine and rising expectations of a U.S. interest rate hike pressured Wall Street.
U.S. stocks slipped at the start of the fourth quarter, following their best three-month stretch of the year.
European stock markets made minor gains on Monday as a rise in the shares of fund management companies in the wake of a large merger in the sector propped up markets.
Major Headlines of the day:
• Atlas Copco to invest Rs 70 cr to double Hyderabad capacity
• Crisil says H1 recovery due to steel sops but H2 looks hazy
• NTPC pays total dividend of Rs 2,762 crore to government
Trend in FII flows: The FIIs were net buyers of Rs 34.22 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 198.02 Cr, as per the provisional figures.
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