September 17, 2012 / 3:33 AM / 5 years ago

MARKET EYE-SGX Nifty gains; after reforms, rate cuts wished for

* Nifty futures on Singapore Exchange were up 1.3
percent, while the MSCI-Asia Pacific index excluding Japan
 was up 0.1 percent.
* Asian stocks held steady on Monday and gold, oil and copper
hovered near multi-month highs, after markets rallied late last
week on hopes that fresh stimulus measures from the developed
world's big central banks will support flagging growth.
 
* Provisional exchange data shows foreign investors were buyers
of stocks worth 28.33 billion rupees on Friday, when the BSE
index rose more than 2 percent to its highest close
since July 2011.
* Reserve Bank of India to release mid-quarter policy review at
0530 GMT.
* In a Reuters snap poll of 18 economists, all but two expect
the Reserve Bank of India to leave its policy repo rate
 unchanged at 8 percent, in line with a poll
conducted earlier this month. 
* The government announced on Friday it was opening up the
retail sector to foreign supermarket chains and removing the bar
on foreign investment in both airlines and broadcasters. It also
approved the sale of stakes in four state-run industries.
 
* Deutsche Bank and Citigroup raised their targets for India's
benchmark BSE stock index after the government announced reforms
last week, including opening up the country's multi-brand retail
sector to foreign direct investment. 

 (abhishek.vishnoi@thomsonreuters.com)

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