Rate cut hopes from RBI, on 6 June, may sway the markets today. yesterday, BSE S&P Sensex and Nifty 50 buck the global trend to hit highs record. Catch all the live updates here Stock Cash Tips
Trends across the global markets indicate a flat opening for the indices Today. However, rate cut hopes from RBI (Reserve Bank of India) on 6 June is likely to sway the markets. Expectations from the central bank to slash the interest rate by 25 bps, third in a row.
Oil & Rupee
Oil prices fall ad global economic slow down triggering calls in the producer club OPEC for supply cuts to be extended.
Brent crude futures were at $60.88 at around 6:00 am, 0.7 % below from the last session.
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The Indian rupee appreciated by 44 paise i.e. 69.26 against the US dollar.
Global Cues
Asian stocks were trading cautiously Today with Japan’s Nikkei and South Korea’s Kospi losing 0.1 % each in the early morning deals.
In early trade, MSCI’s broadest index of Asia Pacific shares outside Japan was up 0.17 %.
On Wall Street, the Dow Jones Industrial Average added 5 pts, during the overnight trade on Monday, to settle at 24,820 while the Nasdaq slipped 120 pts to close at 7,333 levels. The S&P 500 shed 8 pts to end at 2,744 levels.
