22:34
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INDIAN FACE
INDIAN EQUITY BENCHMARKS one of the best percentage gains as pull-back in Asian markets boosted the sentiment. The WPI inflation which eased to 4.7% against 4.89 % in April raised some hopes of a rate cut by the RBI at its policy meet next week which also supported the indices. RBI is likely to go for 0.25% cut in CRR instead of interest rates next week as this move is likely to balance growth and rupee concerns.
Jet Airways also rallied over 8% extending its previous day’s surge ahead of Foreign Investment Promotion Board meet today that will decide on Jet Airways’ stake sale to Gulf carrier Etihad Airways.
GLOBAL FACE
Asian stock markets were higher; Supported by some decent data out of the U.S., Asian stocks followed their U.S. counterparts higher in an effort to erase some of Thursday’s steep losses.
European stocks were mixed, after euro zone inflation data came in line with expectations, while Thursday’s better-than-expected U.S. economic reports continued to lead global equities higher.
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INDIAN EQUITY BENCHMARKS one of the best percentage gains as pull-back in Asian markets boosted the sentiment. The WPI inflation which eased to 4.7% against 4.89 % in April raised some hopes of a rate cut by the RBI at its policy meet next week which also supported the indices. RBI is likely to go for 0.25% cut in CRR instead of interest rates next week as this move is likely to balance growth and rupee concerns.
Jet Airways also rallied over 8% extending its previous day’s surge ahead of Foreign Investment Promotion Board meet today that will decide on Jet Airways’ stake sale to Gulf carrier Etihad Airways.
GLOBAL FACE
Asian stock markets were higher; Supported by some decent data out of the U.S., Asian stocks followed their U.S. counterparts higher in an effort to erase some of Thursday’s steep losses.
European stocks were mixed, after euro zone inflation data came in line with expectations, while Thursday’s better-than-expected U.S. economic reports continued to lead global equities higher.
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