The Asian markets are trading with a bit of caution as well, Nikkei index in Japan is almost unchanged, the Hang Seng index is down by half a percent while the Shanghai index is also trading lower by 0.4%.
Wish you a colourful Holi and a happy safe weekend in advance. Some fear has gripped the world following yet more terror attacks; this time on the airport and a rush-hour metro train in Brussels. It’s a different matter that equity market chose to put up some resilience as if to tell the terrorists that they can’t destabilize financial markets by such acts. The usual rush to gold and government bonds is a given in such situations. Travel-related and hospitality related companies often see a knee-jerk reaction in such cases and that explains the tumble of ADRs like makemytrip.
The outlook is a flat start. Today being the last trading day of the week, investors may choose to remain on the sidelines. A host of macro data is expected from overseas market during the ensuing Indian market holidays.
Nifty staged a sharp rally towards the end on Tuesday finding support around the 7640 levels. If global cues support later in the day, Nifty is likely to fill the gap up to 7721 mark. Should things turn better in the coming days, we see Nifty making a move towards the 200 DMA, which is placed at 7910.
US blue chip stock indices closed lower on Tuesday. The Dow lost 0.2%, S&P 500 index reversed small gains to finish flat while Nasdaq added 0.3%.Tuesday’s thin trading volumes suggested a pause at Wall Street after a strong advance. Meanwhile, Chicago Federal Reserve President Charles Evans said that the Fed should stick with a wait-and-see monetary response amid lack of wage increases and rising inflation.
India Ratings and Research expects the current account deficit (CAD) to come in close to 1.3% of gross domestic product (GDP) in FY16. CAD for 3QFY16 came in at USD7.1bn (1.3% of GDP), sequentially lower than USD8.7bn (1.7% of GDP) in 2QFY16, and also lower than USD7.7bn (1.5% of GDP) in 3QFY15.
Lower oil prices will slow growth and increase budget deficits in oil-exporting Gulf Cooperation Council (GCC) countries in 2016, says Moody's Investors Service.
Maruti Suzuki India announced that it will start deliveries of its newly launched compact urban SUV, Vitara Brezza, to customers, from 25th March 2016. The vehicles will be retailed from the Company's over 1,800 sales outlets spread across India.
The asset quality and capitalization of India's banking sector is likely to remain under pressure in the next 12 months because of tepid domestic industrial activity, and subdued profitability and high leverage in some corporate sectors. That's according to a report, titled "Indian Banks Face An Uphill Road This Year," that Standard & Poor's Ratings Services.
Moody's Investors Service says that the growth outlook of ASEAN economies is likely to diverge in 2016 and 2017, against the backdrop of subdued global demand.
The Minister of State (Independent Charge) for Petroleum & Natural Gas Dharmendra Pradhan has expressed the confidence that the target of 10% reduction in import dependence in Oil & Gas will be achieved by 2022.
Road Transport & Highways Minister Nitin Gadkari informed that there is a target to award road projects worth Rs. 1 lakh crore in the North East during the next five years.
Wish you a colourful Holi and a happy safe weekend in advance. Some fear has gripped the world following yet more terror attacks; this time on the airport and a rush-hour metro train in Brussels. It’s a different matter that equity market chose to put up some resilience as if to tell the terrorists that they can’t destabilize financial markets by such acts. The usual rush to gold and government bonds is a given in such situations. Travel-related and hospitality related companies often see a knee-jerk reaction in such cases and that explains the tumble of ADRs like makemytrip.
The outlook is a flat start. Today being the last trading day of the week, investors may choose to remain on the sidelines. A host of macro data is expected from overseas market during the ensuing Indian market holidays.
Nifty staged a sharp rally towards the end on Tuesday finding support around the 7640 levels. If global cues support later in the day, Nifty is likely to fill the gap up to 7721 mark. Should things turn better in the coming days, we see Nifty making a move towards the 200 DMA, which is placed at 7910.
US blue chip stock indices closed lower on Tuesday. The Dow lost 0.2%, S&P 500 index reversed small gains to finish flat while Nasdaq added 0.3%.Tuesday’s thin trading volumes suggested a pause at Wall Street after a strong advance. Meanwhile, Chicago Federal Reserve President Charles Evans said that the Fed should stick with a wait-and-see monetary response amid lack of wage increases and rising inflation.
India Ratings and Research expects the current account deficit (CAD) to come in close to 1.3% of gross domestic product (GDP) in FY16. CAD for 3QFY16 came in at USD7.1bn (1.3% of GDP), sequentially lower than USD8.7bn (1.7% of GDP) in 2QFY16, and also lower than USD7.7bn (1.5% of GDP) in 3QFY15.
Lower oil prices will slow growth and increase budget deficits in oil-exporting Gulf Cooperation Council (GCC) countries in 2016, says Moody's Investors Service.
Maruti Suzuki India announced that it will start deliveries of its newly launched compact urban SUV, Vitara Brezza, to customers, from 25th March 2016. The vehicles will be retailed from the Company's over 1,800 sales outlets spread across India.
The asset quality and capitalization of India's banking sector is likely to remain under pressure in the next 12 months because of tepid domestic industrial activity, and subdued profitability and high leverage in some corporate sectors. That's according to a report, titled "Indian Banks Face An Uphill Road This Year," that Standard & Poor's Ratings Services.
Moody's Investors Service says that the growth outlook of ASEAN economies is likely to diverge in 2016 and 2017, against the backdrop of subdued global demand.
The Minister of State (Independent Charge) for Petroleum & Natural Gas Dharmendra Pradhan has expressed the confidence that the target of 10% reduction in import dependence in Oil & Gas will be achieved by 2022.
Road Transport & Highways Minister Nitin Gadkari informed that there is a target to award road projects worth Rs. 1 lakh crore in the North East during the next five years.
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