The outlook is a positive start. The Nifty did stage a strong recovery but has not yet managed to surpass the high of “Bearish Engulfing” candle stick pattern which is placed at 7204 formed on Tuesday.
Caution and optimism go hand in hand as markets world worry about something unknown to fear. The known fears are probably priced in the prices of most stocks. IIFL Global Investor's Conference Enterprising India VII is underway in Mumbai with over 100 companies presenting to domestic and international fund managers. Indian economy in 2014 bottomed out and now it's in sweet spot for the coming years. Inflation is declining and RBI is behind the curve, hence the central bank needs to cut interest rates aggressively to support the economy, says Jim Walker of Asianomics who was the keynote speaker at IIFL’s conference on the first day.
The outlook is a positive start. The Nifty did stage a strong recovery but has not yet managed to surpass the high of “Bearish Engulfing” candle stick pattern which is placed at 7204 formed on Tuesday. The positive momentum is likely to continue only if Nifty manages to surpass multiple hurdles of 7204 and 7240. The currency movement will be closely tracked after it hit multi-year lows on Wednesday. The rupee is not too far away from hitting 70 to the dollar and could slump even further to a new record by the end of the year, according to an ET Poll.
US stock indices rallied on Wednesday after the minutes from the Federal Reserve’s January policy meeting indicated that the central bank will likely take time before raising interest rates further. The majority of Fed officials agreed that the best policy would be to wait for additional economic data before making any further attempts to raise interest rates in 2016.
Asian markets are in the green. The Dow Jones Industrial Average climbed 257.42 points, or 1.6%, to end at 16,453.83. The S&P 500 index advanced 33.25 points, or 1.7%, to close at 1,926.83 - recording its first three-day winning streak this year. The S&P has gained more than 5% since Thursday’s close - its biggest three-day gain since August. The Nasdaq Composite index surged by 98.11 points, or 2.2%, to finish at 4,534.06.
Oil futures jumped 5.6% to end at US$30.66 a barrel, driven by talks between Iran and OPEC to freeze oil production to boost prices. Iran’s oil minister Bijan Zanganeh said he supported efforts to calm oil markets.
The Cabinet Committee of Economic Affairs has approved construction of six Railway Lines and a Railway bridge to cater to both increased passenger and freight needs in various areas of the country. The proposals will cost over Rs.10,700 crore and most part of the expenditure will be met through extra budgetary resources (Institutional Financing).
Quick Heal shares will be listed on the BSE and NSE on February 18. The company has raised Rs. 451 crore through its initial public offer (IPO).
National Highways Authority of India is planning to add around 50,000 km of road network in the next five to six years with an investment potential of nearly USD 250 billion (about Rs 17 lakh crore), according to reports.
The outlook is a positive start. The Nifty did stage a strong recovery but has not yet managed to surpass the high of “Bearish Engulfing” candle stick pattern which is placed at 7204 formed on Tuesday. The positive momentum is likely to continue only if Nifty manages to surpass multiple hurdles of 7204 and 7240. The currency movement will be closely tracked after it hit multi-year lows on Wednesday. The rupee is not too far away from hitting 70 to the dollar and could slump even further to a new record by the end of the year, according to an ET Poll.
US stock indices rallied on Wednesday after the minutes from the Federal Reserve’s January policy meeting indicated that the central bank will likely take time before raising interest rates further. The majority of Fed officials agreed that the best policy would be to wait for additional economic data before making any further attempts to raise interest rates in 2016.
Asian markets are in the green. The Dow Jones Industrial Average climbed 257.42 points, or 1.6%, to end at 16,453.83. The S&P 500 index advanced 33.25 points, or 1.7%, to close at 1,926.83 - recording its first three-day winning streak this year. The S&P has gained more than 5% since Thursday’s close - its biggest three-day gain since August. The Nasdaq Composite index surged by 98.11 points, or 2.2%, to finish at 4,534.06.
Oil futures jumped 5.6% to end at US$30.66 a barrel, driven by talks between Iran and OPEC to freeze oil production to boost prices. Iran’s oil minister Bijan Zanganeh said he supported efforts to calm oil markets.
The Cabinet Committee of Economic Affairs has approved construction of six Railway Lines and a Railway bridge to cater to both increased passenger and freight needs in various areas of the country. The proposals will cost over Rs.10,700 crore and most part of the expenditure will be met through extra budgetary resources (Institutional Financing).
Quick Heal shares will be listed on the BSE and NSE on February 18. The company has raised Rs. 451 crore through its initial public offer (IPO).
National Highways Authority of India is planning to add around 50,000 km of road network in the next five to six years with an investment potential of nearly USD 250 billion (about Rs 17 lakh crore), according to reports.
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