The outlook is a flat start. It could take another three months to get over the negative shock of demonetisation but this could get compensated by a positive impact in FY18, says a senior adviser to PM Modi.
The finance ministry is bracing up for a heated discussion today as the Parliamentary Standing Committee on Finance will face a volley of questions regarding the ill-preparedness of the demonetization drive. RBI Governor will be called at a later date by the committee.
Meanwhile, RBI’s Monetary Policy Committee minutes suggest Q3 assessment is likely to be clouded by withdrawal of bank notes; GVA growth has been revised from 7.6% to 7.1%.
The demonetisation impact on growth will be ‘transient and uncertain’. The rupee saw some relief with the dollar cooling against other emerging currencies.
Gold manage to shine a little after days of dullness. A dull day is in store for the market. The Dow failed yet again to cross the psychological 20,000 mark and ended in the red.
Asian indices opened flat to marginally weak as US indices also had a rather quiet session with the Dow Jones ending marginally in the red. Pullback in oil prices & yields edging lower were the theme for the day as US$ also saw profit booking. Emerging markets continue to be the favorite punching bag on both currency & equity front as investors exit seeking better opportunities in US equity & bonds.
Nifty gave up all gains in last half hour & drifted towards 8050 as renewed bout of foreign selling emerged. Banks, IT & Fmcg saw huge profit booking with commodities & auto's seeing buying. For today weak sentiment could see 8000 being tested as year end repatriation by select foreign investors could continue this week.The outlook is a flat start. It could take another three months to get over the negative shock of demonetisation but this could get compensated by a positive impact in FY18, says a senior adviser to PM Modi.
The finance ministry is bracing up for a heated discussion today as the Parliamentary Standing Committee on Finance will face a volley of questions regarding the ill-preparedness of the demonetization drive. RBI Governor will be called at a later date by the committee.
Meanwhile, RBI’s Monetary Policy Committee minutes suggest Q3 assessment is likely to be clouded by withdrawal of bank notes; GVA growth has been revised from 7.6% to 7.1%.
The demonetisation impact on growth will be ‘transient and uncertain’. The rupee saw some relief with the dollar cooling against other emerging currencies.
Gold manage to shine a little after days of dullness. A dull day is in store for the market. The Dow failed yet again to cross the psychological 20,000 mark and ended in the red.
Asian indices opened flat to marginally weak as US indices also had a rather quiet session with the Dow Jones ending marginally in the red. Pullback in oil prices & yields edging lower were the theme for the day as US$ also saw profit booking. Emerging markets continue to be the favorite punching bag on both currency & equity front as investors exit seeking better opportunities in US equity & bonds.
Nifty gave up all gains in last half hour & drifted towards 8050 as renewed bout of foreign selling emerged. Banks, IT & Fmcg saw huge profit booking with commodities & auto's seeing buying. For today weak sentiment could see 8000 being tested as year end repatriation by select foreign investors could continue this week.
The finance ministry is bracing up for a heated discussion today as the Parliamentary Standing Committee on Finance will face a volley of questions regarding the ill-preparedness of the demonetization drive. RBI Governor will be called at a later date by the committee.
Meanwhile, RBI’s Monetary Policy Committee minutes suggest Q3 assessment is likely to be clouded by withdrawal of bank notes; GVA growth has been revised from 7.6% to 7.1%.
The demonetisation impact on growth will be ‘transient and uncertain’. The rupee saw some relief with the dollar cooling against other emerging currencies.
Gold manage to shine a little after days of dullness. A dull day is in store for the market. The Dow failed yet again to cross the psychological 20,000 mark and ended in the red.
Asian indices opened flat to marginally weak as US indices also had a rather quiet session with the Dow Jones ending marginally in the red. Pullback in oil prices & yields edging lower were the theme for the day as US$ also saw profit booking. Emerging markets continue to be the favorite punching bag on both currency & equity front as investors exit seeking better opportunities in US equity & bonds.
Nifty gave up all gains in last half hour & drifted towards 8050 as renewed bout of foreign selling emerged. Banks, IT & Fmcg saw huge profit booking with commodities & auto's seeing buying. For today weak sentiment could see 8000 being tested as year end repatriation by select foreign investors could continue this week.The outlook is a flat start. It could take another three months to get over the negative shock of demonetisation but this could get compensated by a positive impact in FY18, says a senior adviser to PM Modi.
The finance ministry is bracing up for a heated discussion today as the Parliamentary Standing Committee on Finance will face a volley of questions regarding the ill-preparedness of the demonetization drive. RBI Governor will be called at a later date by the committee.
Meanwhile, RBI’s Monetary Policy Committee minutes suggest Q3 assessment is likely to be clouded by withdrawal of bank notes; GVA growth has been revised from 7.6% to 7.1%.
The demonetisation impact on growth will be ‘transient and uncertain’. The rupee saw some relief with the dollar cooling against other emerging currencies.
Gold manage to shine a little after days of dullness. A dull day is in store for the market. The Dow failed yet again to cross the psychological 20,000 mark and ended in the red.
Asian indices opened flat to marginally weak as US indices also had a rather quiet session with the Dow Jones ending marginally in the red. Pullback in oil prices & yields edging lower were the theme for the day as US$ also saw profit booking. Emerging markets continue to be the favorite punching bag on both currency & equity front as investors exit seeking better opportunities in US equity & bonds.
Nifty gave up all gains in last half hour & drifted towards 8050 as renewed bout of foreign selling emerged. Banks, IT & Fmcg saw huge profit booking with commodities & auto's seeing buying. For today weak sentiment could see 8000 being tested as year end repatriation by select foreign investors could continue this week.
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