- US markets closed a bit higher yesterday.
- Asian Markets are a bit lower.
- SGX Nifty is Trading near 14450 now.
- Yesterday due to ICICI Bank results Bank Nifty was up more than 700-800 Points.
- ICICI Bank has one of the highest weightage in Bank Nifty.
- Also there was a bit of short covering Yesterday in both the indices.
- U.S and Partner countries have agreed to help and provide assistance relating to Covid.
- This is a positive sign and will be taken in a good note by the Markets
- Tesla came out with good results Yesterday.
- Today Axis Bank will declare after Markets hours.
- The NPA Percentage and slippages will be iin focus.
- In the Short term 14200 is a good support and looks as we have made a short term bottom there.
- Yesterday the former Chairman of Maruti expired so Maruti was down.
- Maruti and Bajaj Finance are also set to declare results today.
- Markets will react and move based on results from here on.
- This is an Important results season.
- Corona Virus problems still continue.
- Positive aspect is we are becoming stronger and are finding more ways to combat the virus.
- Nifty might Trade between 14320 to 14620 today.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Asian markets are higher. SGX nifty is up 150 points. Yesterday was a very tricky and unexpected session. As soon as Market opened there was a continuous selling. Market was falling left , right and center without taking any support. I was wondering why is the Market going against the global cues Then we got the news about RBI Governer press conference. So some informed people already knew about this rate hike. Hence there was a sudden selling in the markets. RBI hiked repo rate by 40 basis points and Cash Reverse ratio by 50 basis points. Repo rate is the rate at which banks borrow money from RBI. When the rate is increased banks borrow money at higher cost and in turn loans also get costlier. This slows down the growth and liquidity in the Market temporarily. Cash reserve ratio is the interest free deposit money which banks have to keep with RBI. RBI uses that money without having to pay any interest on it. Increasing CRR means RBI is
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