Live Markets Commentary
Sify Editors @ 18:20 PM
Dipen Shah, Senior Vice President, Head PCG Research, Kotak Securities, has this view to share: Markets fell by more than 1% on Monday, in line with the fall in the US markets on Friday and the weak European / Asian markets during the day day. Global markets were weak following weak data across US and Europe. Crude prices have also fallen on indications that, there may be no deal to freeze output at the OPEC meeting.
The important triggers for the market in the next few weeks will be the meeting of OPEC members this week and the RBI meeting early October, which will be closely watched for any rate cuts. CPI inflation has cooled off to near 5% in August 2016 and that, along with the fall in IIP, has raised hopes of a rate cut in the ensuing RBI meeting.
Despite relatively higher valuations, markets have been resilient, largely on the back of consistent global flows. One needs to be selective in stock-picking and must have a longer time horizon while investing in current markets.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 31882.35||Rs. 46950.00|
|Mumbai||Rs. 33122.99||Rs. 46950.00|
|Delhi||Rs. 32299.47||Rs. 46950.00|
|Kolkata||Rs. 32780.75||Rs. 46950.00|
|Kerala||Rs. 31390.37||Rs. 46950.00|