RBI monetary policy is the buzz word when NIFTY opens today. It is going to open positive today around 10,100 and we will cross 10,100 which will be another landmark. Auto sales numbers for July will start pouring in from noon and Maruti and Eicher along with Hero will be in the focus. Indigo came up with a Stellar result yesterday and the stock has not reacted so far. Profit came above 800 Cr and that’s highest ever for any airline company at any time. EBIT was close to 1200 Cr. Bank NIFTY is showing double the strength of NIFTY and that is primarily on the monetary policy tomorrow. Rate cut is on its way and most probably it will be a 25 bps cut. Added to this is the news of SBI cutting deposit rates and maybe few more banks might cut their deposit rates today. Will it be ICICI? Lets see!!
Q1 results expected today
1. JSW steel
2. Marico Industries
3. PC jewellers
4. Power grid corp
5. Torrent power
Not many interesting companies are declaring the results, so the focus will be more on macros than micros.
Fuel prices in important cities on 1st August
City Petrol Diesel 16th July Rise in price
Delhi 65.40 55.58 64.21 +1.19
Mumbai 74.56 59.04 73.54 +1.02
Kolkata 68.56 58.23 67.62 +0.96
Chennai 67.71 58.49 66.67 +1.04
Bangalore 66.39 55.62 65.38 +1.01
Hyderabad 69.24 60.38 68.20 +1.04
Except Delhi, petrol prices in last 15 days went up by slightly more than 1 rupee!!