Capital goods stocks edge higher

A range bound movement was witnessed as key benchmark indices hovered near the flat line in mid-morning trade. The barometer index, the S&P BSE Sensex, was currently up 5.79 points or 0.02% at 28,081.34. The market breadth indicating the overall health of the market was positive. Asian stocks fell after the Swiss National Bank in its stunning move yesterday, 15 January 2015, dumped its long-standing minimum exchange rate of 1.20 Swiss francs to the euro, as the cap on the franc appeared increasingly indefensible in the face of the weakening euro. Trading in US equity index futures indicated weak opening of US stocks later in the global day today, 16 January 2015.
Union Bank of India joined United Bank of India in cutting base rate after a surprise reduction in repo rate announced by the Reserve Bank of India (RBI) yesterday, 15 January 2015, morning. The RBI surprised financial markets by announcing a cut in its main lending rate viz. the repo rate by 25 basis points in an unscheduled monetary policy review yesterday, 15 January 2015 and stated that easing of inflationary pressures provided headroom for a shift in the monetary policy stance.
Read more Click Here / www.trade4x.net