29 Jan 2008
All eyes and ears to RBI
After a heavy sell off from FIIs market recovered in later trade with the buying support to banking stocks. RBI monetary policy is too be announced today. It is widely expected that the Bank of Banks will do some relax in interest rates and CRR. An interest cut can influence the market sentiment today. So all are looking for a positive news form RBI.
All supports were broken in Nifty yesterday but it could manage to close near to a safe area. Nifty can face resistance at 5400 level. A closing above 5400 can be triggered fresh buying.
FIIs were net sellers for 1037 crores and DIIs were net buyers for 597 crores according to NSE provisional data.
The market breadth was negative. NSE advance decline ratio was 365:797
The broader CNX S&P Nifty was down 109.25 points or 2.03% at 5,274.10. Nifty January 2008 futures were at 5,253.30, a discount of 20.80 points as compared to spot closing.
Turnover in NSE’s futures & options segment rose to Rs 43395.88 crore as compared to Rs 39007.70 crore on Friday, 25 January 2008.
RAJESHEXPO is banned in F&O segment of NSE.
Crude price at NYMEX at $ 90.95 a barrel.
Indian ADRs closed mixed at NYSE.
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