Money on the markets
A maturing market amid the mayhem
from India Insight:
Indian milk and dairy products producer Amul’s campaign has a new subject -- the rupee.
The newspaper advertisement features the iconic Amul girl, in her polka dotted red dress, in a boat made of the rupee, about to sink in turbulent waters. She says ‘mujhe mere rupee se bachaao!’ in Hindi. Loosely translated into English, it would mean 'save me from my rupee.'
The tagline, tongue in cheek, says ‘valued highly’.
The Amul mascot’s angst today reflects that of investors who have so far been bullish on the India growth story.
That the rupee has caught the Amul girl’s attention is no surprise. For over thirty years, she has commented on social, political and economic issues of the day making her as favourite a household name as R.K. Laxman’s common man.
from India Insight:
Slowing growth, a falling rupee, sliding stock markets, a rising current account deficit, drying foreign inflows and policy paralysis at the centre. Things certainly don’t look rosy for India.
With the rupee down 22 percent in the last 10 months and a 6 percent drop in stock markets so far in May (as of Friday’s close), is it time for the government to seriously rethink its strategy ahead of the 2014 general elections?
Private airline operators had on Friday announced they would suspend operations on August 18 to protest the lack of government relief for the ailing industry.
The Sensex fell on Monday as an unfavourable court ruling saw a sell off in shares of Reliance Industries. Investor sentiments were also dampened by weak Asian markets.
The 30-share sensitive index swung from an intra-day high of 15,261 to an intra-day low of 14,808, and finally closed 362 points lower at 14,857. The fifty-share Nifty ended 2.1 percent lower at 4484.
The BSE Sensex seesawed today, erasing early losses of as much as 1.8 percent, and finally closed above the 15,000 mark on hopes of a revival in the economy. Higher European markets also helped lift investor sentiments.
The 30-share sensitive index of the Bombay Stock Exchange swung from an intra-day low of 14,601 to an intra-day high of 15,026, and finally closed 137 points up at 15,008. The fifty-share Nifty ended 0.93 percent up at 4572.