Monday, November 29, 2021
Home Business Nifty Seen Opening On Flat Note Ahead Of RBI Monetary Policy Decision

Nifty Seen Opening On Flat Note Ahead Of RBI Monetary Policy Decision

The Indian equity benchmarks are set to open on a flat note as indicated by the Nifty futures on Singapore Exchange ahead of the Reserve Bank of India’s monetary policy decision due later in the day. The Nifty futures on Singapore Exchange also known as SGX Nifty futures rose 7 points to 16,317. The RBI’s Monetary Policy Committee is expected to leave interest rates at record lows for a seventh straight meeting and the markets will focus on what it says about normalising liquidity.

To help the economy through the hard times caused by the pandemic, the RBI has maintained excess rupee liquidity in the banking system with the daily surplus currently exceeding Rs 6 lakh crore.

While most analysts reckon the RBI won’t raise interest rates till next year, some expect the RBI to offer some clues as to when it will start reducing liquidity in a commentary that is released after the monetary policy committee (MPC) meeting.

All 61 economists polled by Reuters said they see no change in the repo rate which has been steady at 4% since May last year.

Meanwhile, Asian shares failed to catch a firm lead from a bumper Wall Street session on Friday as the spread of the Delta variant of the coronavirus across the region heightened worries about the its economic recovery.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.35%, dragged down by Chinese blue chips, which fell 0.56% and Hong Kong down 0.46%.

Back home, foreign institutional investors (FIIs) sold shares worth Rs 719.88 crore on Thursday while domestic institutional investors bought shares worth Rs 732 crore.

Reliance Industries will be in focus after its subsidiary Reliance Strategic Business Ventures (RSBVL) invested Rs 20 crore in Neolync Solutions.

Maruti Suzuki will be on investors’ radar after its total production in July increased by 58.5 per cent on a yearly basis to 170,719 units.

Source link


star health: IPO boom: All you need to know about Star Health and Tega Industries IPOs – Times of India

Two companies Star Health and Allied Insurance Company and Tega Industries will float their initial public offerings (IPOs) this week to collectively raise...

Sensex drops 585 points to 56,521 in early trade, Nifty sheds 191 points too 16,835

Key stock indices Sensex and Nifty declined by more than 1 per cent in the early trade on Monday due to deep losses...

Inside the ‘Misinformation’ Wars

This hints at a weakness of the new focus on misinformation: It’s a technocratic solution to a problem that’s as much about politics...


Please enter your comment!
Please enter your name here

- Advertisment -stock market course

Most Popular

Here’s How Soaring Tomato Prices Killed a Farmer and Cowherd in Karnataka

Chikkaballapur SP GK Mithun Kumar mentioned that it is illegal to erect live electric fences around farms. (Reuters)Unaware of the electric fencing, Vasanth...

Bigg Boss 15: Salman Khan says Ritesh may ‘disappear’ after show, feels Rakhi Sawant ‘shouldn’t be with a man like that’

Rakhi Sawant’s marriage has been a matter of speculation, ever since she announced three years ago that she tied the knot. Now that...

Honduras Election: Opposition Candidate Takes Big Early Lead

The opposition candidate in Honduras’s presidential election, Xiomara Castro, held a commanding lead in initial results on Sunday, as she promised to overhaul...

Bill To Kill Farm Laws Passed In 4 Minutes. Opposition Wanted Discussion

<!-- -->A crucial bill to cancel farm laws was passed in Lok Sabha in the fastest repeal in recent years.New Delhi: A bill...

Recent Comments

%d bloggers like this: