Markets may open with minor losses ahead of RBI policy

Indian markets on Tuesday closed at their highest ever level for a second session in a row after the country’s largest car maker Maruti Suzuki advanced 2 per cent after reporting upbeat sales figures for the month of July.

The European stocks displayed an upbeat performance on Tuesday; sentiments remained cheerful on the back of better-than-expected corporate earnings and optimistic economic data. The DAX of Germany surged 133 points to 12,251. The CAC 40 of France advanced 33 points to 5,127. The FTSE 100 of the U.K. rallied 52 points to 7,424.

U.S stocks ended modestly higher on Tuesday with Dow Industrials closing at a record high. The blue-chip index rallied 73 points to close 36 points shy of the important psychological 22,000 mark. The Nasdaq Composite Index gained 15 points to close at 6,363. The S&P 500 index advanced 6 points to 2,476.

Asian stock- market indexes were trading with modest gain positive in early trade on Wednesday. Hong Kong Hang Seng has scaled 62 points to 27,602. China’s Shanghai Composite rose 3 points to 3,295, while Japan’s Nikkei 225 gained 83 points to trade above the psychological mark of 20,000.

Domestic benchmark indices may open on a cautious note ahead of the RBI bi-monthly monetary policy meet. The SGX Nifty were trading at 10,138 down by 20 points, hinting a subdued start for the day. As the day progresses all eyes will be on the outcome of RBI policy and a 25 basis point rate cut is already factored in by the market participant so only a cut of 50 basis points will positively surprise the markets. Key stocks which will report their quarterly earnings on Wednesday are as follows Bata, CAPF, Edelweiss, Godrej Properties, PNB, Lupin, Reliance Infrastructure, Voltas and Wockhardt.