The US Federal Reserve is due to meet on Tuesday and Wednesday as investors look for cues on when it will begin pulling back on its bond purchases.
Investors also await other central bank meetings spanning Brazil, Britain, Hungary, Indonesia, Japan, Norway, the Philippines, South Africa, Sweden, Switzerland, Taiwan and Turkey
HCL Tech hits new 52-week high
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Evergrande crisis isn’t China Lehman moment: Bloomberg
China Evergrande Group’s debt crisis is unlikely to become China’s “Lehman moment,” according to strategists at Citigroup Inc., Barclays Plc and UBS Group AG.
Barclays argues the market environment isn’t similar to what happened during the collapse of Lehman Brothers, UBS says the default levels are pretty low versus the size of China’s economy and Citi expects the policy makers to step in.
“The conditions are simply not in place for even a large default to be China’s Lehman moment,” Barclays macro strategists including New York-based Ajay Rajadhyaksha wrote in a note on Monday. One would need to see a sharp increase in credit distress away from the real-estate sector, banks unwilling to face each other and massive policy mistakes for that to happen, they wrote.
Nifty technicals: Angel Broking
For some time, we would certainly not be in a hurry to buy these dips; because this may not be the similar corrective move that we have been witnessing of late. As far as levels are concerned, 17550-17630 are to be treated as stiff hurdles, with 17450-17250 key support zone. A violation of the lower range would lead to extended correction in the market which in our sense is possible in coming days. Still all eyes would be on the banking as well as midcap space, because they are the ones who are likely to set the tone for rest of the participants.
Nifty Realty surges amid muted cues form broader markets
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Edelweiss MF asks investors with spare cash to invest in China Fund
Edelweiss Asset Management Company which has a Fund of Funds (FoF) feeding into the JP Morgan Greater China Fund has asked investors with spare cash to invest more money into its fund. Recent regulatory clampdowns on industries like private tuitions and online gaming and financial troubles with Evergrande, a real estate developer have caused sharp falls in Chinese markets as well as global markets. The Edelweiss note, however, dismissed these concerns with…
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