The stock market may not be exuding as much confidence as Arvind Kejriwal these days. Former-Infosys board member V Balakrishnan has joined the Arvind Kejriwal-led Aam Aadmi Party (AAP). Sure markets are at relatively higher levels but the action has been missing for some time now.
Meanwhile, the AAP goverment in Delhi will seek a vote of confidence today. There shouldn’t be many problems on this front as the AAP has 28 MLAs and will need the support of eight legislators of Congress to prove majority. Kejriwal has lived up to his word and provided free supply of 700 litres of water every day for Delhi households and reduced electricity tariffs by 50%. Now the Congress-led government in Maharashtra, too, is considering a cut in power rates. Kejriwal has also ordered an audit of accounts of discoms by the CAG.
Back to the market, a flat start is in the offing. Not much in terms of global cues as US markets were closed on New Year. Among markets which are open today, Hong Kong's Hang Seng is flat with a positive bias while South Korea's Kospi is marginally lower. The action continues on mid- and small cap counters as both the S&P BSE mid-cap and small-cap indices touching their respective ten-month highs on New Year. Investors will also watch out for Manufacturing PMI for Dec, by HSBC today. The weekly meeting of Union Cabinet, followed by Cabinet Committee on Economic Affairs will be held post market hours.
Meanwhile, the Union government is also likely to step up its activity. On the agenda in the coming days is easing of FDI policy and considering converting shares in some PSU bks into equity.
The rupee ended lower on Wednesday, the first trading session of 2014, ahead of the Reserve Bank of India's rate meeting this month.The rupee closed at 61.90/91 per dollar compared with 61.80/81 on Tuesday.
The auto sales for the December Month showed a mixed response. Maruti Suzuki India reported 4.4% decline in its total sales at 90,924 units in December 2013. Ford India reported 2.84% increase in total sales at 11,209 units in December 2013.
While Mahindra & Mahindra Ltd’s Farm Equipment Sector tractor announced sales numbers for December 2013 which stood at 16257 units in the domestic market, as against 13712 units during December 2012, a growth of 19%.
China's official Purchasing Managers' Index (PMI) fell to 51.0 in December, from 51.4 the previous month and below forecasts for 51.2.
Meanwhile, the AAP goverment in Delhi will seek a vote of confidence today. There shouldn’t be many problems on this front as the AAP has 28 MLAs and will need the support of eight legislators of Congress to prove majority. Kejriwal has lived up to his word and provided free supply of 700 litres of water every day for Delhi households and reduced electricity tariffs by 50%. Now the Congress-led government in Maharashtra, too, is considering a cut in power rates. Kejriwal has also ordered an audit of accounts of discoms by the CAG.
Back to the market, a flat start is in the offing. Not much in terms of global cues as US markets were closed on New Year. Among markets which are open today, Hong Kong's Hang Seng is flat with a positive bias while South Korea's Kospi is marginally lower. The action continues on mid- and small cap counters as both the S&P BSE mid-cap and small-cap indices touching their respective ten-month highs on New Year. Investors will also watch out for Manufacturing PMI for Dec, by HSBC today. The weekly meeting of Union Cabinet, followed by Cabinet Committee on Economic Affairs will be held post market hours.
Meanwhile, the Union government is also likely to step up its activity. On the agenda in the coming days is easing of FDI policy and considering converting shares in some PSU bks into equity.
The rupee ended lower on Wednesday, the first trading session of 2014, ahead of the Reserve Bank of India's rate meeting this month.The rupee closed at 61.90/91 per dollar compared with 61.80/81 on Tuesday.
The auto sales for the December Month showed a mixed response. Maruti Suzuki India reported 4.4% decline in its total sales at 90,924 units in December 2013. Ford India reported 2.84% increase in total sales at 11,209 units in December 2013.
While Mahindra & Mahindra Ltd’s Farm Equipment Sector tractor announced sales numbers for December 2013 which stood at 16257 units in the domestic market, as against 13712 units during December 2012, a growth of 19%.
China's official Purchasing Managers' Index (PMI) fell to 51.0 in December, from 51.4 the previous month and below forecasts for 51.2.
No comments:
Post a Comment