MARKET WRAP: Sensex ends 318 pts higher ahead of RBI board meet outcome

The Nifty PSU Bank index ended 0.75 per cent lower weighed by Oriental Bank of Commerce and State Bank of India (SBI).

8:08 AM

Short-term outlook for market looks positive: Devang Shah

The short-term outlook for the market remains positive till Nifty trades above 9950 levels and expecting targets in the range of 10900-11100 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 9951 levels and expecting targets in the range of 12500-12800 levels in the medium term. CLICK HERE TO READ

7:59 AM

Buy Canara Bank for a target of Rs 290, SL of Rs 245: Prabhudas Lilladher

BUY CANARA BANK

CMP: Rs 263.70

TARGET: Rs 290

STOP LOSS: Rs 245

 

The stock has formed a higher bottom formation pattern in the daily chart taking support at around 234 levels and currently has almost moved past the significant 200DMA moving average indicating a positive bias and has strength for further upsides in the coming days. The indicators are favourable maintaining a positive bias and with consistent decent volume participation witnessed, we recommend a buy in this stock for an upside target of 290 keeping a stop loss of 245. Click here for more

7:54 AM

Nifty outlook by Prabhudas Lilladher:

 

The market continues to surge high as far as indices are concerned, with selective large-cap stocks supporting the market, i.e. the banking stocks now especially the PSU Banks, along with few FMCG and RIL. Metals, Pharma and IT stocks are non-participative bringing in volatility. The support for the week is seen 34800/10470 while resistance is seen at 36080/10880. Bank Nifty would have a range of 25580-26870.

7:48 AM

A short history of RBI's turbulent relationship with the government

The story of the sacking of first RBI governor, Sir Osborne Smith, because of differences with the government, has been often told. But who was his successor? His name was James Taylor, an additional secretary in the finance department in Delhi. Unlike his boss in Delhi, Sir John Grigg, the finance member of the viceroy’s council, he didn’t think India was there only to be plundered. READ HERE

7:42 AM

RBI board meeting today; PCA, NBFCs, economic capital framework in focus

On Monday, the Reserve Bank of India’s (RBI) board is expected to take up several issues on which sharp differences exist between the government and the central bank. Three are reportedly of critical importance.

 

First, the liquidity crunch facing the non-banking financial companies (NBFCs). Second, the slowdown in credit to micro, small and medium enterprises (MSMEs). And third, whether the RBI is holding on to excess capital on its balance sheet. READ MORE

7:35 AM

RBI may blink on PCA, not on NBFC window in today's board meeting

The Reserve Bank of India (RBI) may agree to bring some public sector banks (PSBs) out of the prompt corrective action framework (PCA), but it is not likely to accede to the government’s demand to set up a special refinance window for non-banking financial companies (NBFCs) at the board meeting of the central bank on Monday, sources said. READ MORE

7:27 AM

News digest: RBI board meeting, earnings growth, MF industry, and more

The Reserve Bank of India (RBI) may agree to bring some public sector banks (PSBs) out of the prompt corrective action framework (PCA), but it is not likely to accede to the government’s demand to set up a special refinance window for non-banking financial companies (NBFCs) at the board meeting of the central bank on Monday, sources said. READ HERE

7:21 AM

SGX Nifty

The SGX Nifty is trading at 10,745, up 47 points or 0.44 per cent

7:18 AM

Asian Shares

Asian shares inched cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US trade dispute, while a new-found air of concern on the global outlook at the Federal Reserve undermined the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 per cent and South Korea 0.5 per cent. Japan's Nikkei gained 0.4 per cent.

7:10 AM

Wall Street

The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods. US stocks moved higher, however, after President Donald Trump said China seemed willing to make a deal on trade and that the United States may not have to impose further tariffs on the Chinese goods.

The Dow Jones Industrial Average rose 163.82 points, or 0.65 per cent, to 25,453.09, the S&P 500 gained 12.21 points, or 0.45 per cent, to 2,742.41 and the Nasdaq Composite added 10.08 points, or 0.14 per cent, to 7,269.11.

7:05 AM

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