INSUBCONTINENT EXCLUSIVE:
Indian financial markets, including forex and equity, are likely to witness high volatility and deep cuts on Tuesday in view of RBI
on Monday, citing personal reasons.
Analysts warned that this development would hit the stock market, which is already reeling under
It has already discounted a 3-0 whitewash for the BJP
If even one state goes the BJP way, it will result in short covering
perception-driven impact on Tuesday, another analyst said requesting anonymity.
In Singapore trading, SGX Nifty was trading some 350 points,
or 3.24 per cent, lower at 10,387 at around 8 pm (IST).
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said RBI
between the government and the governor, this sudden bolt from the blue coinciding with election results, which is expected to put the
ruling party in a spot, is a sure shot recipe for a gap down opening
Market would now keenly look at the new appointee -- in case it's a political crony -- it would be taken adversely as it would be an
expert echoed similar views, saying capital markets need not worry too much, as the outgoing governor was not credited with any path
breaking or innovative monetary tools or policies.
Indian stocks on Monday sank, as the possibility of the ruling BJP not measuring up to
expectations in the just-concluded state elections did not go down well with investors
Assembly election results will be out tomorrow.
BSE benchmark Sensex crashed 2 per cent, or 714 points, to end at 34,959
weakest close since November 20
In global markets, losses snowballed on Monday as fresh signs emerged that the US-China trade spat was taking a deeper toll on global
growth, Reuters reported.
Gold held near a five-month peak, as a slide in global shares pushed investors to seek shelter in bullion.
