 "Markets may open tad higher, FOMC eyed")
Indian markets are likely to see a cautious day of trade, mirroring global sentiment which has been tepid. Investors will be counting on the Federal Reserve to launch only a modest scaling back of stimulus later in the day. At Indian timing, 8am, the SGX Nifty was up 5 points at 5,885.
Overnight, U.S. stocks advanced on expectations the Federal Reserve will make only moderate changes to its stimulus that has been highly supportive of stocks and other assets at the conclusion of its two-day meeting.
The policy-setting Federal Open Market Committee began meeting on Tuesday to discuss whether to trim its bond purchases, or quantitative easing.
Meanwhile, Asian markets held their breath as caution ruled in stock markets, with MSCI's broadest index of Asia-Pacific shares outside Japan flat at 464.14 while Japan's Nikkei firmed 0.8 percent.
Back home, inorder to stem the fall in Rupee, the RBI cracked down on offshore foreign exchange traded by Indians through online trading websites, asking banks to report any such remittances to the regulator.
The central bank has been trying to curb the offshore rupee market by asking banks to cut down on overnight positions as well as asking foreign institutional investors to produce documentation from clients in order to hedge their currency risk in the onshore forward markets.
Stocks to Watch
Rate sensitive pockets will be under pressure ahead of the RBI monetary policy and the ongoing FOMC meet.
Tata Motors is likely to see an uptick after rating agency Moody's upgraded Jaguar Land Rover Automotive corporate rating from 'Ba3' to 'Ba2' on strong and fairly stable credit profile.
Shipping Corporation of India may gain as its vessel, the Desh Shanti, that was detained in Iran for 26 days would arrive in Visakhapatnam port today.
TVS Motor may gain as the company informed that it will be introducing a new two-wheeler every quarter.
Overnight, U.S. stocks advanced on expectations the Federal Reserve will make only moderate changes to its stimulus that has been highly supportive of stocks and other assets at the conclusion of its two-day meeting.
The policy-setting Federal Open Market Committee began meeting on Tuesday to discuss whether to trim its bond purchases, or quantitative easing.
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The Dow Jones industrial average rose 0.23 percent, to 15,530, the S&P 500 gained 0.42 percent, to 1,705 and the Nasdaq Composite added 0.75 percent, to 3,746.
Meanwhile, Asian markets held their breath as caution ruled in stock markets, with MSCI's broadest index of Asia-Pacific shares outside Japan flat at 464.14 while Japan's Nikkei firmed 0.8 percent.
Back home, inorder to stem the fall in Rupee, the RBI cracked down on offshore foreign exchange traded by Indians through online trading websites, asking banks to report any such remittances to the regulator.
The central bank has been trying to curb the offshore rupee market by asking banks to cut down on overnight positions as well as asking foreign institutional investors to produce documentation from clients in order to hedge their currency risk in the onshore forward markets.
Stocks to Watch
Rate sensitive pockets will be under pressure ahead of the RBI monetary policy and the ongoing FOMC meet.
Tata Motors is likely to see an uptick after rating agency Moody's upgraded Jaguar Land Rover Automotive corporate rating from 'Ba3' to 'Ba2' on strong and fairly stable credit profile.
Shipping Corporation of India may gain as its vessel, the Desh Shanti, that was detained in Iran for 26 days would arrive in Visakhapatnam port today.
TVS Motor may gain as the company informed that it will be introducing a new two-wheeler every quarter.