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MARKET EYE -Indian shares edge higher ahead of RBI review; China signals positive
June 3, 2014 / 4:37 AM / 3 years ago

MARKET EYE -Indian shares edge higher ahead of RBI review; China signals positive

* India's BSE index is up 0.2 percent, while the
broader NSE index is 0.1 percent higher. 
* India's steel stocks gain after positive manufacturing data in
a private survey in China, the world's biggest consumer and
producer of the metal. 
* Tata Steel gains 2.4 percent, Steel Authority of
India is up 2 percent, while JSW Steel rises
0.8 percent.
* Cement stocks also gain on value buying. ACC rises
1.6 percent while Ambuja Cement is up 2.2 percent.
* Markets await the Reserve Bank of India's policy review, with
most analysts expecting the central bank to keep interest rates
on hold but to ease up a bit on its tough inflation rhetoric in
a conciliatory gesture to the new Narendra Modi government.
* Gains also track Asian shares higher, supported by solid U.S.
and Chinese manufacturing data. 
* Overseas investors bought Indian shares worth 2.34 billion
rupees ($39.60 million) on Monday, provisional exchange data

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