The 50-share Nifty index is expected to open flat on Thursday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological support level of 7850-7870 in trade today. Stocks in news are Reliance Industries, Hindustan Zinc, SAIL, Tata Steel, Tata Motors, ONGC, DLF, TVS Motors, GCPL, Deepak Ferrilizers, Venus Remedies, Dr Reddy’s Lab and Jindal Saw.
Today’s Headlines
1) Tata Motors to launch two car models every year till 2020.
2) TVS Motor launches Scooty Zest; eyes 18% market share.
3) Empays Payment Systems mulls to raise $10 million to expand business in India and overseas.
4) Damodar Valley Corp to suspend power supply to Madhya Pradesh.
Currency Market Headlines
1) India’s rupee rose to the highest level in three weeks on speculation the government’s efforts to cut the budget deficit will draw more funds from overseas.
2) Brazil’s central bank has eased rules on reserve requirement for a second time this quarter in a bid to boost credit in a slowing economy.
3) The pound strengthened as the Bank of England said two policy makers wanted an interest-rate increase this month, marking the first split on rates in more than three years and the first under Governor Mark Carney.
Read full report here:- http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Key Headlines
1) Foreign institutional investors (FIIs) have poured a record amount of money into the Indian debt market with year-to-date inflows of $13.7 billion, higher than inflows of around $12.04 billion into the equity market. There is a lot of demand for Indian bonds from foreign investors because yields are quite attractive for carry trade and the rupee has also been stable.
2) Indian 10 year yields have remained elevated at around 8.8%, more attractive than the yields on the 10-year US treasury bonds at around 2.5%, even after factoring in a possible depreciation of the rupee.
Read full story here:- http://www.rrfinance.com/reserch/MorningBell/Db_MorningBell.pdf
Today’s Headlines
1) Tata Motors to launch two car models every year till 2020.
2) TVS Motor launches Scooty Zest; eyes 18% market share.
3) Empays Payment Systems mulls to raise $10 million to expand business in India and overseas.
4) Damodar Valley Corp to suspend power supply to Madhya Pradesh.
Currency Market Headlines
1) India’s rupee rose to the highest level in three weeks on speculation the government’s efforts to cut the budget deficit will draw more funds from overseas.
2) Brazil’s central bank has eased rules on reserve requirement for a second time this quarter in a bid to boost credit in a slowing economy.
3) The pound strengthened as the Bank of England said two policy makers wanted an interest-rate increase this month, marking the first split on rates in more than three years and the first under Governor Mark Carney.
Read full report here:- http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Key Headlines
1) Foreign institutional investors (FIIs) have poured a record amount of money into the Indian debt market with year-to-date inflows of $13.7 billion, higher than inflows of around $12.04 billion into the equity market. There is a lot of demand for Indian bonds from foreign investors because yields are quite attractive for carry trade and the rupee has also been stable.
2) Indian 10 year yields have remained elevated at around 8.8%, more attractive than the yields on the 10-year US treasury bonds at around 2.5%, even after factoring in a possible depreciation of the rupee.
Read full story here:- http://www.rrfinance.com/reserch/MorningBell/Db_MorningBell.pdf
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