Cautious opening on cards ahead of RBI policy

Asian markets mixed in early trades

Markets are likely to react to corporate results and the Monetary Policy Review today. Investors will also look towards the derivatives expiry on Thursday as well as the PMI data on Friday.

US markets had ended on ended flat on Monday, despite upbeat economic and corporate news, as investors were reluctant to push prices higher following four weeks of gains. Dow slipped 0.10% at 13,881 while Nasdaq added 0.15%.

In Asia, most markets traded in green as shanghai Composite added 2.4% at 2,346. Nikkei advanced 0.6% at 10,893. At 700 hrs IST, the SGX Nifty was down 19 points at 6057.

In individual stocks, all eyes would be on rate sensitive stocks. Also watch out for Blue Dart, Dabur, Idea Cellular and Reliance Capital as they come out with their results today.

NHPC has proposed to exit from the National Power exchange in view of the change in market conditions. NHPC’s move comes on the heels of another promoter, NTPC, deciding to exit from the NPX.

Watch out for Adani Power. The company posted a net loss of Rs 507 crore for the quarter ended December, higher compared with the net loss of Rs 358 crore in the corresponding period last year.

Glenmark may soon foray into the injectible oncology segment in the US and Europe. The company has already started filing applications for drug approval in these markets.

Industrial and automotive battery maker Amara Raja Batteries Limited, a subsidiary of the Hyderabad-based Amara Raja Group, is planning to invest Rs 440 crore for capacity expansion in the automotive segment.