MARKET TODAY
Key benchmark indices are likely to open lower on the back of weak global cues. US stocks fell yesterday as disappointing forecasts from technology companies brought new concerns about the economy. Asian stock markets also struggled, following the negative lead from Wall Street as poor earnings outlooks for a few U.S. companies dented optimism about a recovery in the world's biggest economy. Investors may remain cautious ahead of Reserve Bank of India's quarterly monetary policy due to be announced today. Market men expect that RBI will hike cash reserve ratio (CRR) requirements by 50 basis points in its monetary policy review scheduled to be announced today, 29 January 2010.
According to data released by the NSE, in the last session, FIIs were net buyers of index futures to the tune of Rs 1590 crore, while they sold index options worth Rs 693.68 crore. They were net buyers of stock futures to the tune of Rs 1089.40 crore and bought stock options worth Rs 82 crore.
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