Indian Market Outlook:
Nifty continued to trade in a range of 8540 to 8500 with a positive bias. Markets are keenly awaiting the results of IT bell weathers TCS and Infosys which are to be announced today and tomorrow respectively. Therefore another range bound movement can be expected today as well. Top 5 gainers of yesterday were Tata steel, Gail, ONGC, Coal India and Idea.
Bank of England monetary policy is the major market event for the day. Global Markets and Nifty are expecting interest rate cut and stimulus to be announced today and if the outcome is as expected then further upside can be seen in all markets.
SGX Nifty, at 8:30 am IST, is opening at 8520 which shows Nifty opening at yesterday's close.
International Market Outlook:
International markets are holding on to the gains made during the early part of the week. S&P futures closed flat after making a fresh high above 2150 and European markets closed mildly negative. Markets are keenly awaiting Bank of England credit policy at 4:30 PM IST. The expectation of a rate cut and stimulus, if delivered can take the markets higher from these levels.
Today morning, Asian markets are within the range, trading with minor losses, as they expect the policy of Bank of England to be dovish. Japan Nikkie Index is trading in a range of 200 points with day high and low of 16393 and 16196 respectively.
Help from: Dynamic Levels
Nifty continued to trade in a range of 8540 to 8500 with a positive bias. Markets are keenly awaiting the results of IT bell weathers TCS and Infosys which are to be announced today and tomorrow respectively. Therefore another range bound movement can be expected today as well. Top 5 gainers of yesterday were Tata steel, Gail, ONGC, Coal India and Idea.
Bank of England monetary policy is the major market event for the day. Global Markets and Nifty are expecting interest rate cut and stimulus to be announced today and if the outcome is as expected then further upside can be seen in all markets.
SGX Nifty, at 8:30 am IST, is opening at 8520 which shows Nifty opening at yesterday's close.
International Market Outlook:
International markets are holding on to the gains made during the early part of the week. S&P futures closed flat after making a fresh high above 2150 and European markets closed mildly negative. Markets are keenly awaiting Bank of England credit policy at 4:30 PM IST. The expectation of a rate cut and stimulus, if delivered can take the markets higher from these levels.
Today morning, Asian markets are within the range, trading with minor losses, as they expect the policy of Bank of England to be dovish. Japan Nikkie Index is trading in a range of 200 points with day high and low of 16393 and 16196 respectively.
Help from: Dynamic Levels
Nifty Strong As It Awaits Bank of England Monetary Stimulus
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