What changed for D-Street while you were sleeping

Trade Nivesh: Financial markets are expecting RBI’s monetary policy committee to deliver a 25-50 basis points rate cut at the end of its three-day rate review today. Will such a move take the benchmark indices higher?

TRADE SETUP
Singapore trading sets stage for positive start

Nifty futures on the Singapore Exchange were trading 24 points, or 0.20 per cent, higher at 11,736.50, indicating a positive start for the Nifty50.

Tech view: Nifty forms Bearish Engulfing candle
Nifty50 snapped a four-day winning streak on Wednesday and closed in the red. In the process, it formed a Bearish Engulfing Candle on the daily chart. Yet, analysts said the market bias remains positive, as long as Nifty does not break below the 10,625 level.

Asian shares take a pause
Asian shares paused near an eight-month peak on Thursday as investors awaited developments on trade talks between the United States and China, who appear closer to signing a deal. MSCI's broadest index of Asia-Pacific shares outside Japan took a breather after five straight days of gains. Japan's Nikkei was also flat to stay near a recent one-month top.


US stocks end higher
On Wednesday, the Dow Jones Industrial Average index rose 39 points, or 0.15 per cent, to 26,218.13. The S&P500 index increased 6.16 points, or 0.21 per cent, to 2,873.40. The Nasdaq Composite index rose 46.86 points, or 0.60 per cent, to 7,895.55.

Oil prices edge lower
Oil prices dipped on Thursday, with Brent edging away from the psychologically important $70 level after easing in the previous session on data showing a surprise build in US inventories. Brent futures eased 2 cents to $69.29 a barrel.

Metropolis IPO sees 9% bids on Day 1
The diagnostics company has raised Rs 530 crore on Tuesday by allotting 60.24 lakh shares to 26 anchor investors at 880 per share. The 1,200-crore offer, which will run from April 3 to 5, consists of about 15.3 million shares.

RVNL IPO sails through
Public sector firm Rail Vikas Nigam’s (RVNL) initial public offer was subscribed 1.77 times on the last day of the offer on Wednesday. Qualified institutional buyers (QIBs) quota was subscribed 1.36 times, Non-institutional investors (NII) 0.80 times and retail 2.78 times.

FIIs sell Rs 1,040 crore worth of equities
Foreign portfolio investors (FPIs) sold Rs 10,40 crore worth of domestic stocks on Wednesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 81 crore, data suggested.