Tuesday, 20 May 2014

What's Happening, and Where, on May 20

DATA ALERT
*  JAPAN ALL-INDUSTRY INDEX for Mar. 1000 IST
*  JAPAN BUSINESS CONDITIONS INDEXES in Mar. 1030 IST
*  JAPAN MACHINE TOOL ORDERS in Apr. 1100 IST
* GERMANY PRODUCER PRICE INDEX for Apr. 1130 IST
* ITALY INDUSTRIAL TURNOVER, ORDERS in Mar. 1330 IST
* UK CONSUMER PRICE INDEX INFLATION in Apr. 1400 IST
* UK HOUSE PRICE INDEX in Mar. 1400 IST
* US ICSC-GOLDMAN SACHS CHAIN STORE SALES in week to May 17. 1715 IST
* US JOHNSON REDBOOK RETAIL SALES INDEX in week to May 17. 1825 IST

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo(at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

MARKETS
Call  : Seen opening around 8.30% on likely demand from banks early in session to meet mandatory reserve needs. 1-day call: 8.30% vs 7.00-7.05% Mon.

Bonds : Seen opening firm on value buying. Lack of positive cues may limit appetite. 10-yr yld: 8.80-8.87% vs 8.86% Mon.

Rupee : Seen steady-to-tad up on positive mkt sentiment post NDA victory. To track share indices intraday. Range: 58.20-58.80/$1 vs 58.59/$1 Monday.

Stocks: Positive momentum to continue; some profit booking likely. Nifty range 7200-7400; Monday-end 7263.55, up 60.55 points.

INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, May 19: FII 13.50, DII (3.48)
* FII NSE futures net buy/(sale) in bln rupee, May 19: index 5.81, shr (11.56)
* Sensex 24363.05, up 241.31 points; Nifty 7263.55, up 60.55 points
* Crude: $102.61/bbl; Rupee: 58.59/$1; Gold: $1,292.60/ounce; 10-yr yld: 8.8627%

OUTLOOK
* Share indices are seen opening marginally up on positive cues from overseas markets. However, profit booking may kick in later.

GLOBAL STOCK MARKETS
* US: In a thinly-traded session, gains in shares of internet and small-cap companies helped indices end marginally up on Monday.

* Most Asian indices were marginally up today tracking the positive close on Wall Street overnight.

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