'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
The broader markets were also in top gear, with the BSE midcap index surging by 2.1% at 11,431 and the smallcap index gaining 1.4% at 11,735.
Only one 25 basis points rate cut is likely this calendar year, between April and June, the poll says
The Centre has projected reining in its fiscal deficit at 3.3 per cent of GDP in FY19.
2019 was the Bharatiya Janata Party's breakout year, when it stretched the boundaries of what was thought possible and ended up with 303 seats on its own steam. Now it is forced to play defence, on a pitch queered by too many variables, asserts Prem Panicker.
Finance Minister Nirmala Sitharaman on Monday ruled out a cut in excise duty on petrol and diesel to ease prices, which have touched an all-time high, saying payments in lieu of past subsidised fuel pose limitations. Petrol and diesel as well as cooking gas and kerosene were sold at subsidised rates during the previous Congress-led UPA government. Instead of paying for the subsidy to bring parity between the artificially suppressed retail selling price and the cost that had soared because of international rates crossing $100 per barrel, the then government issued oil bonds totalling Rs 1.34 lakh crore to the state-fuel retailers. These oil bonds and the interest thereon are being paid now.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
'The estimates of tax forgone on this item run into hundreds of billions.' 'And there is neither fairness nor rationality to support continuing with this tax holiday for just one class of investors, those who put their money in shares,' says T N Ninan.
So, what does 2016 have in store for the Indian markets? Will they be able to take a giant leap forward in the leap year, and what are the key risks?
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
'The foundation of the 2014 triumph was Narendra Modi's appeal to voters in the Hindi belt. The Bihar Vidhan Sabha polls will demonstrate if he continues to appeal to them,' says T V R Shenoy.
The Sensex ended at at 27,676, lower by 210 points and the Nifty broke the psychological level of 8,400 to end at 83877 down 70 points.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
'Gujarat should have been a breeze. But the Patidar agitation and economic uncertainty queered the pitch.' 'Yes, the BJP won and its rank-and-file will take great comfort in the assembly victory. But the leadership is taking stock for a very tricky set of elections coming up in 2018.'
'Will 'Make in India' be able to harness the demographic dividend so it does not become a disaster?' 'Will 'Digital India' live up to the lofty promises the government and private sector made as part of its recent launch?'
'It is in the interest of both sides that the visit of the US President is seen as being successful. Both sides have invested considerable political capital in it. This rapid exchange of visits and the decisions taken have to be justified, beyond the symbolism, which is no doubt important in itself. This opportunity to impart a fresh momentum to ties should not be missed,' says former foreign secretary Kanwal Sibal.
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