Indexes fall in opening deals, RBI policy focuses
New Delhi, Jun 6 (IANS) National equity benchmarks fell in early trading on Monday, weighed mainly by consumer packaged goods, information technology and media stocks.
Same as the Reserve Bank of India is likely to raise policy rates at the monetary policy review meeting which begins on Monday, however investors are awaiting the actual degree of percentage hike before taking new positions in the markets.
Investors are also awaiting further forward-looking macroeconomic guidance from the central bank.
As of 9:44 a.m., it was down 0.7% to 55,397 points, while down 0.6% to 16,489 points.
“For India, high crude prices and a trade deficit of $23 billion in May are matters of concern. Even though REIT sales fell in early June, they are likely to sell more at higher levels. “said VK Vijayakumar, chief investment strategist at Geojit Financial. Services.
“The 102 above is a negative for emerging market stocks. The positive factor for India is that domestic institutional investors and retail investors are consistently buying dips.”
Additionally, Asian stocks got off to a soft start on Monday as caution took hold of a critical reading of US inflation, while the euro gained on the yen amid the risk of the European Central Bank taking a step. important towards a political tightening this week, said Deepak Jasani. , Head of Retail Research, HDFC Securities (NS:).