Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Good morning, this is Ashutosh Joshi , an equities reporter in Mumbai. Indian stocks look poised to benefit from the risk-on mood being seen in global markets on Thursday, as expectations rise for the Federal Reserve to cut rates. The benchmark Nifty index snapped a three-day losing streak and reclaimed the 26,000 level in the previous session. The question for traders now: will today finally be the day the Nifty closes at a new high? The index briefly hit an intraday record last week but has yet to close at a level above its peak from September last year. Meanwhile, currency traders will focus on the impact, if any, from the IMF’s reclassification of India’s exchange-rate regime. People familiar with the matter had earlier said the move was coming.