Indian Markets likely to open soft on Monday - TRANS SCAN

The Indian markets are likely to open soft tracking positive Asian markets; however, trade is likely to remain volatile ahead of the Reserve Bank of India's policy meet later today. Another important event today is the Union Cabinet's reshuffling, with new Ministers being appointed for Railways, Road Transport and Highways and Housing and Poverty Alleviation.

At 07:30 a.m., Nifty India stock futures in Singapore were trading 4 points lower at 5800, indicating a weak opening on the domestic market.

On Friday, US stocks fell ahead of the crucial Federal Reserve policy meeting next week as Chairman Ben Bernanke's congressional statement on May 22 raised concerns that the Fed could soon begin to cool its stimulus efforts.

Major Asian markets were trading mixed as investors preferred to stay on the sidelines ahead of the US Federal Reserve meeting outcome later in the week.

Source : Equity Bulls

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