India has reached a significant milestone on Friday (November 28) by achieving Rs 100 lakh crore or 100 trillion market cap.
The second half of June could be driven more or less by technical factors triggered by news flow from Greece, the US Federal Reserve and the monsoon. The technical picture seems bearish as of now, says Devangshu Datta.
Global markets could correct 5-10 per cent. If that happens, Indian markets will correct about 10 per cent
Banks are in need of government support to manage the stressed assets
'...and defensive until the global macro headwinds turn more benign.'
Sensex ended strong, Tata Steel, HUL climb higher.
The key proposals from the IT industry that were not addressed included removal of dual levies on software products
Leading brokerages Nomura and Barclays on said current account deficit, which unexpectedly improved to 4.8 per cent in 2012-13, but still at a historic high, could moderate further this fiscal on slowing gold imports and cheaper commodities.
While information technology companies will benefit, firms with high foreign borrowings or heavy dependence on imports will be hurt.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
'It will take a long time for the effects of demonetisation to wear away, and I am not even sure that a year lost, can at all be even recovered.'
Slow pace of reforms in India is disappointing: Faber
China's economy is in transition, with rising wage costs and massive overcapacity.
Deepak Parekh, chairman of Housing Development Finance Corporation (HDFC), India's largest mortgage lender, says the exuberance in industry about the new government is justified but big ideas articulated by the prime minister need speedy implementation.
Indian economy about to take-off
