Google Trends shows that the term “current account deficit” is among top searches from India in 2013. Add “gold” as a comparative keyword and the searches for the commodity Indians love are far higher.
Indian shares ended in the green in three of five trading sessions but jittery market reaction to the U.S. Federal Reserve’s announcement of a gradual end to its $85 billion bond-buying stimulus took the BSE Sensex down 2.1 percent for the week. The broader 50-share Nifty lost 2.4 percent.
(Any opinions expressed here are those of the author and not of Thomson Reuters)
The Aam Aadmi Party (common man’s party), led by bureaucrat-turned-activist Arvind Kejriwal, is gearing up for state-level polls in Delhi this year with an array of candidates chosen for their honesty.
Thousands stranded in parts of northern India awaited rescuers on Wednesday as floods caused by heavier-than-usual monsoon rains killed at least 150 people in worst-hit Uttarakhand.
Gains of 1.9 percent on Friday helped the Sensex recover some of its losses but the benchmark still ended down 1.3 percent for the week. The index ended in the red for three of five trading sessions this week.
Indian markets struggled in trade on Thursday with the Sensex falling more than 200 points while the Nifty sank over 50 points. Weak Asian markets also weighed as the Nikkei slumped more than 800 points on worries the U.S. Fed would trim its stimulus programme in the coming months.
Fitch Ratings revised India’s sovereign rating outlook to “stable” from “negative” on the back of measures taken by the government to contain the budget deficit, it said in a statement on Wednesday. The rating agency had cut India’s outlook to negative in June 2012 and currently has a ‘BBB-‘ rating for the country.
The cabinet on Tuesday approved the much awaited Real Estate (Regulation and Development) Bill that proposes to make India’s largely unregulated and once booming real estate sector more transparent.