The market is still to find its winning ways after a great start this week. Besides the usual bout of profit booking seen at record highs, investors are unsure where to head. The global cues are not really providing any hope of a sustained rally in the near term even as a new US budget deal appears to be in place to prevent future shutdowns. On one hand there are expectations that the Federal Reserve may act sooner than later to unwind its stimulus while on the other the belief is it will happen after the new Fed chief takes charge.
Whatever the situation, back home, the RBI governor has said that tapering of the US’ bond-buying programme by the Fed might have unexpected results. Yet, India is prepared for it adding that the central bank would bring measures to augment liquidity in the debt market in coming weeks.
The outlook is a weak start. Investors will look at cues from the industrial production data for October 2013 along with general consumer price index (CPI) data for the month of November 2013. The RBI’s focus will remain on controlling inflation, the RBI chief said. Meanwhile, the Finance Minister said, it is necessary to highlight the inaction of the state governments in this behalf, even while accepting that the central government must do all it can, within its powers, to moderate inflation.
“There will be no compromise on the decision to walk on the path of fiscal prudence and contain the fiscal deficit step by step, year by year, until we the reach the goal of 3% of GDP in 2016-17," Chidambaram said.
The trade deficit in November narrowed to $9.22bn in November. Despite the slowdown in export growth, the Government is confident that it would reach the target of $335 billion for the year, Commerce Secretary S.R. Rao said.
India Infoline Housing Finance Limited (IIHFL), the housing finance arm of India Infoline Limited, plans to open on December 12, 2013 a public issue of Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each. These NCDs have a monthly option and will be issued for a period of 5 years. The yield on the NCD works out to 12.15% p.a.
A top official at the European Central Bank has signalled it will try to force eurozone banks to hold capital against sovereign bonds, in an attempt to stop weak lenders using its cash to hoover up the debts of crisis-hit countries.
Reserve Bank of India Governor Raghuram Rajan has said that India needs to make opening a business a hassle-free experience for entrepreneurs. There needs to be a one-page form on the lines of Saral (the simplified income-tax return) for regulatory clearances to open a small business, said Rajan,
Asian markets are lower. Japan's Nikkei 225 index was trading 1.1 per cent lower at 15,333.50 and Hong Kong's Hang Seng index was trading 0.17 per cent lower at 23,298.12.
South Korea's Kospi index was trading 0.56 per cent lower at 1,966. China's Shanghai index was trading 0.12 per cent higher at 2,206.
The Dow Jones fell 129.60 points or 0.81 percent, to end at 15,843.53, while S&P 500 slid 20.40 points or 1.13 percent, to close at 1,782.22.
The Nasdaq Composite dropped 56.677 points or 1.4%, to finish at 4,003.813.
Global oil giant BP Plc and its partner Reliance Industries is planning to invest US $ 5-10 billion to quadruple natural gas production by 2020, according to media reports.
The Asian Development Bank has kept its growth forecast for India at 4.7% for this year, according to reports.Report said that ADB also sees the country growing at 5.7% in 2014.
Asia-Pacific financial institutions may face more hurdles in 2014 as pressure on the economic front is likely to bear down on their asset quality, said Standard & Poor’s Ratings Services in a recently published report.
Fitch Ratings says that credit profiles of Asian Utilities are stabilising after several years of weakening. This is chiefly as a result of cash generation from past capex feeding through although capex continues to be high for most entities.
Whatever the situation, back home, the RBI governor has said that tapering of the US’ bond-buying programme by the Fed might have unexpected results. Yet, India is prepared for it adding that the central bank would bring measures to augment liquidity in the debt market in coming weeks.
The outlook is a weak start. Investors will look at cues from the industrial production data for October 2013 along with general consumer price index (CPI) data for the month of November 2013. The RBI’s focus will remain on controlling inflation, the RBI chief said. Meanwhile, the Finance Minister said, it is necessary to highlight the inaction of the state governments in this behalf, even while accepting that the central government must do all it can, within its powers, to moderate inflation.
“There will be no compromise on the decision to walk on the path of fiscal prudence and contain the fiscal deficit step by step, year by year, until we the reach the goal of 3% of GDP in 2016-17," Chidambaram said.
The trade deficit in November narrowed to $9.22bn in November. Despite the slowdown in export growth, the Government is confident that it would reach the target of $335 billion for the year, Commerce Secretary S.R. Rao said.
India Infoline Housing Finance Limited (IIHFL), the housing finance arm of India Infoline Limited, plans to open on December 12, 2013 a public issue of Secured, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each. These NCDs have a monthly option and will be issued for a period of 5 years. The yield on the NCD works out to 12.15% p.a.
A top official at the European Central Bank has signalled it will try to force eurozone banks to hold capital against sovereign bonds, in an attempt to stop weak lenders using its cash to hoover up the debts of crisis-hit countries.
Reserve Bank of India Governor Raghuram Rajan has said that India needs to make opening a business a hassle-free experience for entrepreneurs. There needs to be a one-page form on the lines of Saral (the simplified income-tax return) for regulatory clearances to open a small business, said Rajan,
Asian markets are lower. Japan's Nikkei 225 index was trading 1.1 per cent lower at 15,333.50 and Hong Kong's Hang Seng index was trading 0.17 per cent lower at 23,298.12.
South Korea's Kospi index was trading 0.56 per cent lower at 1,966. China's Shanghai index was trading 0.12 per cent higher at 2,206.
The Dow Jones fell 129.60 points or 0.81 percent, to end at 15,843.53, while S&P 500 slid 20.40 points or 1.13 percent, to close at 1,782.22.
The Nasdaq Composite dropped 56.677 points or 1.4%, to finish at 4,003.813.
Global oil giant BP Plc and its partner Reliance Industries is planning to invest US $ 5-10 billion to quadruple natural gas production by 2020, according to media reports.
The Asian Development Bank has kept its growth forecast for India at 4.7% for this year, according to reports.Report said that ADB also sees the country growing at 5.7% in 2014.
Asia-Pacific financial institutions may face more hurdles in 2014 as pressure on the economic front is likely to bear down on their asset quality, said Standard & Poor’s Ratings Services in a recently published report.
Fitch Ratings says that credit profiles of Asian Utilities are stabilising after several years of weakening. This is chiefly as a result of cash generation from past capex feeding through although capex continues to be high for most entities.
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