Market Update today

[admin]

After recent interaction with banks, RBI is expected to raise CRR this month or next month to tighten the liquidity. The 10-year G-Sec has also surged nearly 15bps to 7.58% in the last few days on such expectation.

The hedge funds DE Shaw sold 36% stake in DLF Assets (DAL) to the promoters company DLF for $500mn. We expect, it is positive for DLF. Media reported that the company may raise liquidity through IPO or REIT listing.

[b]Expect strong opening on global cues. Asian market up nearly 1-2% and US market gained over 0.5%. Copper price slipped over 1% on LME and Crude oil is almost flat.[/b]