US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower. Asian stocks are headed south for now. China's Shanghai Composite has crashed by 4% in early trade. The rupee, which ended flat for two days in a row, will also be eyed.
The Indian market has managed to stay a bit resilient in recent times despite global developments causing worries in other markets. Greece Prime Minister Alexis Tsipras could not reach a deal with Greece's lenders while a meeting of European finance ministers broke up without progress. Will the Athens government default? Will Greece exit from the Euro zone? These are questions top on investors’ minds.
A volatile June series has come to an end where the Nifty swung over 500 points. But on expiry day the Nifty closed a tad shy of 8400 mark. This caught call and put writers on the wrong foot as most traders had positions at the 8400 level. For the month of June, the gains for Nifty were just around 80 points.
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today.
The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower. Asian stocks are headed south for now. China's Shanghai Composite has crashed by 4% in early trade. The rupee, which ended flat for two days in a row, will also be eyed. In US, healthcare stocks rallied after the U.S. Supreme Court upheld tax subsidies key to President Barack Obama's signature healthcare reform law.
The southwest monsoon was 28% above normal as of Thursday and is expected to cover the entire country in the next couple of days. The Prime Minister Narendra Modi said that for the first time in the country, the people, and the urban leadership would play the pivotal role in deciding the future course of their cities. He was speaking at the launch of three major urban development initiatives: AMRUT (Atal Mission for Rejuvenation and Urban Transformation); Smart Cities Mission; and Housing for All (Urban), at Vigyan Bhawan in New Delhi.
Railway Minister Suresh Prabhu reportedly said that his ministry is looking at $500 bn investment in Railways in the next 10-12 years. "We need to focus on infra sector for growth in India," Prabhu reportedly said. "We will give out high value contracts for rail infra in the next 6 months," Prabhu was quoted as saying.
The government wants Coal India Ltd to keep coal prices low for cheaper power tariff, according to reports.
A volatile June series has come to an end where the Nifty swung over 500 points. But on expiry day the Nifty closed a tad shy of 8400 mark. This caught call and put writers on the wrong foot as most traders had positions at the 8400 level. For the month of June, the gains for Nifty were just around 80 points.
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today.
The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower. Asian stocks are headed south for now. China's Shanghai Composite has crashed by 4% in early trade. The rupee, which ended flat for two days in a row, will also be eyed. In US, healthcare stocks rallied after the U.S. Supreme Court upheld tax subsidies key to President Barack Obama's signature healthcare reform law.
The southwest monsoon was 28% above normal as of Thursday and is expected to cover the entire country in the next couple of days. The Prime Minister Narendra Modi said that for the first time in the country, the people, and the urban leadership would play the pivotal role in deciding the future course of their cities. He was speaking at the launch of three major urban development initiatives: AMRUT (Atal Mission for Rejuvenation and Urban Transformation); Smart Cities Mission; and Housing for All (Urban), at Vigyan Bhawan in New Delhi.
Railway Minister Suresh Prabhu reportedly said that his ministry is looking at $500 bn investment in Railways in the next 10-12 years. "We need to focus on infra sector for growth in India," Prabhu reportedly said. "We will give out high value contracts for rail infra in the next 6 months," Prabhu was quoted as saying.
The government wants Coal India Ltd to keep coal prices low for cheaper power tariff, according to reports.
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