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Markets are likely to open on a cautious note ahead of the RBI policy review which is set to be announced later in the day.
On the global front, the Dow has slipped 62 points to 14,452. Nasdaq was down 11 points at 3238. U.S. stocks tumbled Monday as a controversial bailout and bank tax in Cyprus reminded investors that Europe's debt problems are far from over.
In Asia this morning, Exporters opened lower with the dollar and the euro falling against the yen, in line with growing uncertainty over the economic outlook in Europe and the U.S. The Nikkei has surged 2% to 12,457. Seoul Composite is up maginally as well. At 630 hrs IST the SGX Nifty is trrading flat at 5856 - up just 4 odd points.
In individual stocks, watch out for rate sensitives as they are likely to react to the policy decisions.
Watch out for NTPC and Coal India, as NTPC has thrown up two new demands relating to acceptable quality and losses during transport of coal under the new Fuel Supply Agreements. Though CIL has trashed these as “absolutely baseless”, the new demands are set to derail the government’s efforts to free huge investments stuck due to coal shortage.
Watch out for banks. Concern over a surge in banks’ non-performing assets (NPAs) and cases of restructured accounts, the Finance Minister has asked lenders to take stern action for recovery of their dues.
Infrastructure major GVK group is in talks with investors to sell minority stakes in its airport division and its Australian coal mining business
