Today’s Talk on Indian Stock Market
The Indian equity
market is expected to open higher a day after the Nifty traded volatile. The
SGX Nifty, an indicator of the market opening was trading at 8546.50, up 10.50
points at 7:20. The market ended its four-day winning streak on profit booking
post RBI announced its third bi-monthly policy review. Overall, it was a
volatile session for the market as the Sensex plunged more than 300 points
intraday and Nifty breached 8500 but managed to cut losses in later part of
session.
In other asset, Crude prices saw slight recovery, but
high global production and concern over the economic outlook in China weighed
in on the outlook. Brent crude, meanwhile, was trading above USD 50 per barrel.
Pressured by dollar strength, gold continued to struggle around the USD 1080
mark. Platinum dropped to the lowest in 6.5 years and Palladium to the lowest
since late-2012 on oversupply and sluggish auto catalyst demand.
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