Expert Zone

Straight from the Specialists

India Markets Weekahead: Beware the Ides of March

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(Any opinions expressed here are those of the author and not of Reuters)

Markets ended budget week below support levels of 5800/5840 and just when the six-month rally seemed over for good, it made a spirited V-shaped recovery to close at 5946 on Friday, with gains of 3.95 percent. The Street is divided with some expecting this to be the beginning of a new rally with the market scaling highs that it missed in February; others see it as a strong pullback which will fizzle out soon.

The government seems to be responding faster to allay investor fears. It was quick to respond to FII worries over proposed changes in tax residency certificates. Finance Minister P. Chidambaram has been assuring investors of continued policy measures, including the Direct Taxes Code (DTC) bill being introduced in the current parliament session.

The mood also seems to be changing among rating agencies. Moody’s suggested that the worst may be over for India and revised their growth guidance to 6.2 percent for 2014.

The debate on the Street will slowly shift to the elections with speculation over prime ministerial candidates in the 2014 polls. Policy announcements over the next few months would be eagerly awaited but one wonders whether they would continue after the elections.

Budget 2013: An opportunity missed

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(Any opinions expressed here are those of the author, and not necessarily of Thomson Reuters)

Industry leaders have hailed Budget 2013 saying that this is the best Finance Minister P. Chidambaram could have done under the circumstances. Opposition leaders have slammed the budget. Each had their own compulsions but I feel the truth lies somewhere in between.

Nifty to consolidate after crossing psychological barrier of 6000

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High drama in parliament and volatility in the markets, albeit within a tight range, summarizes the action for the week.

Most in the analyst fraternity including myself expected the Nifty to cross the psychological barrier of 6000 after the FDI vote in parliament, but markets defied consensus once again and ended up a paltry 0.4 percent for the week at 5907.

India Markets Weekahead – An opportunity to ride the rally

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

It was a stupendous week with 4.5 percent gain and the closing at 5879, the highest point for Nifty in 19 months. The week started with positive international cues of a Greek bailout, and was further strengthened with Moody’s confirmation of a stable rating for India.

India Markets Weekahead – It’s a no trade zone for now

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

Indian markets were in a narrow Nifty band of 5550-5650 last week but volatility kept market participants on tenterhooks.

India Market Weekahead: Trading subdued but markets back on track

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

Last week was a volatile one with the stock market poised for a surge but the Nifty eventually closed in the red with a loss of 0.20 percent at 5686.

India Market Weekahead: Buy on dips with no roadblocks till budget

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

There wasn’t much point-to-point movement on the Nifty but it was not a listless week by any standard.

India Markets Weekahead: RBI policy review to be catalyst for markets

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

This was a listless week with the Nifty in the same band of 5640 and 5720 as the previous week, closing about 20 points lower at 5664. The festival  season has begun but the mood on the street remains cautious.

India market weekahead: Consolidation seen, earnings in focus

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

October has been touted as a difficult month for stocks, though for the Indian markets there didn’t seem to be anything stopping the repeat show of October 2011 until the flash crash on 5th.

Temporary market correction an opportunity to buy

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

Opposition party protests against the UPA coalition government’s economic reforms could not puncture market sentiment in the past four weeks. One domestic brokerage house dealer’s “fat finger” did it in just a few seconds.

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