The market will take direction from the outcome of RBI's monetary policy review today, 31 July 2007. The BSE 30-share Sensex rose 26.34 points to 15,260.91, on Monday, 30 July 2007, amid mixed trend in pivotals.
The Reserve Bank of India (RBI) is likely to leave its key benchmark rates untouched in its first quarterly review of the annual policy statement today, 31 July 2007. According to experts from money market, the central bank is likely to shift its focus to the problem of excess liquidity in the money market system, evident from the softening of interest rates in overnight call money market.
The RBI had pushed its benchmark repo rate to a four-year peak of 7.75% in its drive to tame inflation, raising the repo, its key short-term lending rate, 5 times between June 2006 and March 2007. India's inflation accelerated to 4.41% for the week ended 14 July from 4.27% the previous week.
Asian markets gained in volatile trade today, 31 July 2007. Hong Kong's Hang Seng (up 1.01% at 22,970.70), Taiwan Weighted (up 2.10% at 9,263.10), Singapore's Straits Times (up 0.84% at 3,555.80) and South Korea's Seoul Composite (up 0.78% at 1,921.65), edged higher.
Japanese stocks were mixed as losses in electronic parts maker Kyocera Corp. were matched by gains in Mitsubishi Electric and Sharp Corp. Nikkei slipped 0.22% at 17,251.10.
Wall Street found a foothold yesterday, 30 July 2007 as investors, still anxious that a credit crunch could crimp US growth, took advantage of low prices after last week's steep losses. The Dow Jones advanced 92.84 points, or 0.70%, to 13,358.31. Broader stock indicators also posted gains. The Standard & Poor's 500 index added 14.96 points, or 1.03%, to 1,473.91, and the Nasdaq Composite index advanced 21.04 points, or 0.82%, to 2,583.28.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 1117.25 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 854.32 crore on Monday, 30 July 2007.
Oil prices were little changed on Tuesday, 31 July 2007 with US crude still within sight of its record high as traders feared further declines in hefty US crude stocks. US crude eased 16 cents to $76.67 a barrel. London's Brent crude slipped 14 cents to $75.60 a barrel.
The Reserve Bank of India (RBI) is likely to leave its key benchmark rates untouched in its first quarterly review of the annual policy statement today, 31 July 2007. According to experts from money market, the central bank is likely to shift its focus to the problem of excess liquidity in the money market system, evident from the softening of interest rates in overnight call money market.
The RBI had pushed its benchmark repo rate to a four-year peak of 7.75% in its drive to tame inflation, raising the repo, its key short-term lending rate, 5 times between June 2006 and March 2007. India's inflation accelerated to 4.41% for the week ended 14 July from 4.27% the previous week.
Asian markets gained in volatile trade today, 31 July 2007. Hong Kong's Hang Seng (up 1.01% at 22,970.70), Taiwan Weighted (up 2.10% at 9,263.10), Singapore's Straits Times (up 0.84% at 3,555.80) and South Korea's Seoul Composite (up 0.78% at 1,921.65), edged higher.
Japanese stocks were mixed as losses in electronic parts maker Kyocera Corp. were matched by gains in Mitsubishi Electric and Sharp Corp. Nikkei slipped 0.22% at 17,251.10.
Wall Street found a foothold yesterday, 30 July 2007 as investors, still anxious that a credit crunch could crimp US growth, took advantage of low prices after last week's steep losses. The Dow Jones advanced 92.84 points, or 0.70%, to 13,358.31. Broader stock indicators also posted gains. The Standard & Poor's 500 index added 14.96 points, or 1.03%, to 1,473.91, and the Nasdaq Composite index advanced 21.04 points, or 0.82%, to 2,583.28.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 1117.25 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 854.32 crore on Monday, 30 July 2007.
Oil prices were little changed on Tuesday, 31 July 2007 with US crude still within sight of its record high as traders feared further declines in hefty US crude stocks. US crude eased 16 cents to $76.67 a barrel. London's Brent crude slipped 14 cents to $75.60 a barrel.
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