Opening Bell: Markets to extend gains on penultimate day of F&O expiry. The Indian markets rallied in last session with the RBI’s policy measures coming on expected lines, as it took steps to boost cash supply for banks while raising key borrowing costs, also the rupee strengthened and supported the markets. Today, the start of the penultimate day of F&O series expiry is likely to be extension of the gains tailing the good global cues. However, there will be some cautiousness as well, as the India Inc has raised its apprehension saying that hike in key interest rate by the Reserve Bank of India will hit the already weak investment momentum and impact India’s economic growth. Also, there will be some concern in coal and mining stocks as it has been reported that the auction of coal blocks to private firms may get further delayed to March next year as the Coal Ministry has sought from consultancy firm CMPDIL a report on reserves of four more mines. There will buzz on the street as the stock exchanges, in consultation with market watchdog Securities and Exchange Board of India (Sebi), have decided to ease the norms to retain up to Rs 10,000 in trading accounts of active customers based on representations received from investors and members.
Posted on: Wed, 30 Oct 2013 04:15:02 +0000
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