Tuesday, 24 March 2015
A flat start is likely for the Indices. Asian markets are undecided. US indices, which were doing well for most part of the day tumbled to end flat at close. The S&P 500, Dow Jones Industrial Average and Nasdaq registered marginal losses.China March ‘flash’ PMI fell to 49.2 from February, finally reading 50.7
After four days of fall, Indices continue to languish for positive cues. While the Nifty is down around 1% this expiry, it has crashed over 5% from its highs hit this month. Nifty has been the worst performer in March. The F&O expiry will bring its share of choppiness in the coming days. Prop desks and HNIs have been very active in the options segment. Nifty rolls are at a mere 15% while the average of last 6 months is around 28%. Cost of carry is at the highest level in last six months not just for Nifty but also Bank Nifty.
Cleveland Federal Reserve President Loretta Mester said that the US monetary policy easing has created only minimal bubble-like activity in financial markets. Speaking at a conference at the Bank of France in Paris, Mester said the US central bank was aware of risks that easing could fuel bubbles. Mester further said that some segments of the equity market have shown some bubble-like things, but they were never thought to be that extraordinary.
SEBI is likely to reject a finance ministry proposal that seeks to halt trading in shares of PSUs in which the government is selling its stale on the day of the offer for sale (OFS), says a report. SEBI chairman has expressed concern over this since any insider trading will directly impact SEBI, as per a report. SEBI has reportedly started probing into the issue of nexus between CAs, brokers and market operators. The Securities and Exchange Board of India said it is looking into the raised complaints and a multitude of other agencies are also prying into the reported leaks of documents.
Posted by Paramita Bannerjee at 09:06