Markets likely to remain under pressure; Rupee key
At 800 hrs Indian Standard Time the SGX Nifty was down 50 points at 5,459.
 "Markets likely to remain under pressure; Rupee key")
Markets are likely to open lower tracking weak Asian cues. On Friday, markets witnessed highest single day drop since July 2009 in absolute terms amid FIIs outflow after RBI imposed fresh restrictions coupled with rupee hitting record low.
Traders will continue to monitor the rupee movement and await further steps by the government to prop up the troubled currency. Release of minutes from the Federal Reserve would also be watched.
At 800 hrs Indian Standard Time the SGX Nifty was down 50 points at 5,459.
US stocks fell slightly on Friday, and the Dow industrials posted the biggest weekly loss this year as rising bond yields hurt shares paying rich dividends and earnings from retailers disappointed investors.
The Dow Jones industrial, Standard & Poor's 500 and Nasdaq Composite Index was down 0.1-0.3%.
Asian markets face a tense few days waiting to see if minutes of the Federal Reserve's last policy meeting will provide some clarity on when it might start scaling back stimulus -- with far-reaching implications for borrowing costs across the globe.
STOCKS TO WATCH
FMC has asked crisis ridden NSEL to go ahead for the time being with its plan to settle Rs 5,600 cr of dues to investors and questioned the credibility of the accounts and information provided by the exchange.
Indiabulls Real Estate has bought back the entire stake of FIM, a US based prvate fund in its seven project subsidiaries for Rs 1,172 cr.
To arrest declining production from the Panna field, state run ONGC and RIL and BG Exploration and Production India, are jointly investing Rs 950 cr to drill more wells.
Essar Steel aims to raise a minimum of Rs 2,241 crore by selling three non-core assets for paring some of its $4 billion debt and reducing the strain on its balance sheet.
Moody’s has downgraded the baseline credit assessments (BCA) for three public sector banks– Punjab National Bank, Bank of Baroda and Canara Bank - on the adverse economic environment.
Traders will continue to monitor the rupee movement and await further steps by the government to prop up the troubled currency. Release of minutes from the Federal Reserve would also be watched.
At 800 hrs Indian Standard Time the SGX Nifty was down 50 points at 5,459.
Also Read
According to technical experts, the Nifty may seek support around 5,425-5,370, while face resistance around 5,590-5,645.
US stocks fell slightly on Friday, and the Dow industrials posted the biggest weekly loss this year as rising bond yields hurt shares paying rich dividends and earnings from retailers disappointed investors.
The Dow Jones industrial, Standard & Poor's 500 and Nasdaq Composite Index was down 0.1-0.3%.
Asian markets face a tense few days waiting to see if minutes of the Federal Reserve's last policy meeting will provide some clarity on when it might start scaling back stimulus -- with far-reaching implications for borrowing costs across the globe.
STOCKS TO WATCH
FMC has asked crisis ridden NSEL to go ahead for the time being with its plan to settle Rs 5,600 cr of dues to investors and questioned the credibility of the accounts and information provided by the exchange.
Indiabulls Real Estate has bought back the entire stake of FIM, a US based prvate fund in its seven project subsidiaries for Rs 1,172 cr.
To arrest declining production from the Panna field, state run ONGC and RIL and BG Exploration and Production India, are jointly investing Rs 950 cr to drill more wells.
Essar Steel aims to raise a minimum of Rs 2,241 crore by selling three non-core assets for paring some of its $4 billion debt and reducing the strain on its balance sheet.
Moody’s has downgraded the baseline credit assessments (BCA) for three public sector banks– Punjab National Bank, Bank of Baroda and Canara Bank - on the adverse economic environment.