Consumer Durables News

Markets Lose Early Gains to End Flat Before RBI Policy on Wednesday


By Aditya Raghunath — The was trading at 49,582 around 11:30 today morning, up 423 points from yesterday’s close of 49,159 but it gave most of those gains by the end of the day to close at 49,201, just 42 points over yesterday. It moved up 0.09%. It was a slightly better story with that closed 45 points over yesterday, up 0.31%.

Indian markets attempted a strong move today on the back of positive cues in the US and Europe, and the fact that no other state except Maharashtra is in lockdown but they literally fell flat. The markets have been trading in a range for quite some time. Banking and consumer durables fell today with falling a further 0.54% today as the impact of the lockdown is expected to hit the finance sector the hardest.

The RBI (Reserve Bank of India) will meet to announce its monetary policy, and it is generally accepted that India’s central bank will continue with its dovish stance. If the RBI turns hawkish tomorrow, expect markets to fall.

Europe has opened in the positive after UK Premier Boris Johnson confirmed reopening plans. , and are up 1.17%, 0.6% and 1.02% respectively.

US futures are all trading in the red with , and down 0.14%, 0.23% and 0.26% respectively. 

U.S. stocks are set to open lower later Tuesday, consolidating after a surge to record highs on Monday that was fueled by optimism over the outlook for reopening the economy. That rally was in part an extended effect of a blowout jobs report on Friday, which saw the U.S. economy add over 900,000 jobs in the month through mid-March.

prices extended their gains on expectations that the U.S. and Chinese economies will continue to drive a rebound in global demand. Prices had fallen over 4% as the market absorbed the news of a unexpectedly sharp increase in supply from OPEC and its allies over the next three months.


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