Market View : 30-May-2012

View previous topic View next topic Go down

Market View : 30-May-2012

Post  RaahiShah on Wed May 30, 2012 3:04 pm

Amid all the external and internal conflicts, our usually soft-spoken and mild-mannered PM has turned combative. Dr. Manmohan Singh has thrown the gauntlet at Team Anna to prove his guilt in the controversy over the allocation of coal blocks. The PM says he is ready to pull the plug on his political career if proven wrong. Another report shows UPA II may not be able to take any further bold measures in light of the stiff political resistance from all sides.

The economic environment remains challenging in India; sales of AC makers and lifestyle retailers have turned weak. At the same time, inflation is unlikely to soften materially as can be gauged from reports of yet another price hike by few car makers. The Indian markets will take a cue from Q4 GDP data due on Friday. But, before that we have to contend with the F&O expiry on Thursday and plenty of results.

The opening today will be lower due to weak global cues. Asian indices are mostly down on mounting worries about the Spanish banking sector. US stocks played catch-up with other markets after an extended weekend. European markets managed to advance but Spanish stocks got pummeled again. The euro slid below $1.25, reflecting continued concerns about the debt-stricken region. The Hang Seng has slumped after a media report tempered expectations for a strong stimulus from China.

The EU officials will unveil a report card on the members’ fiscal health today. A survey shows that while several EU nations are questioning the merits of tighter integration, few are willing to dump the euro as a common currency. Interestingly, Greeks are among the keenest to keep the euro. Look out for data on manufacturing PMI from Australia to USA due out on Friday. World markets will also closely track the US monthly jobs report, also scheduled for Friday and US Q1 GDP data.

100% profit via stock tips | commodity tips


RaahiShah

Posts : 204
Join date : 2012-02-13

View user profile http://www.capitalstars.com

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum