India
The first Presss conference of the new Finance Minister has given lot of positive energy to the Equity Market and Investors . It is expected that he will review the retro Tax provison which has created negative sentiment in the financial Market since announcement in the last Union Budget by Mr Mukherjee . He has also assured to announce some plan for fiscal consolidation which has been the biggest woory of India since last few years due to out of control Government subsidy and no show in Disinvestment of PSU shares . It is likely that looking into the 2014 Union election of India he might be having the mandate from the Congress supremo and PM to announce some positive and market friendly policy . In Forex market INR is expected to move around 55~56 Level but any major announcement from Government on Retail FDI etc will take the rupeee to around 53~54 level .The slowdown in Indian Economy is reflected in the direct Tax collection data which has been released for the period April ~July 2012 . It has grown only 4.68% to 1.39Lakh Crore YOY . FIIs are showing high confidence on Indian Market as against any other emerging Economy and has brought USD 2 Billion in July 2012 . It is expected that Swedish Company IKEA will agree to the condition imposed by Indian Government and if it happens India will get big FDI .
International
The spanish 2 year Bond yield has come down to 3.42% from the high of 7% . The US Equity market has touched 3 Month high with the expectation that situation will improve in EU due to ECB support. The Morgan stanley Composite Index - World Equity index is rising and has touched the highest level since May 2012 with optimism of Global economy recovery . Australian & New Zealand Economy is doing very good and their currency has performed very well against USD since last few Months
The first Presss conference of the new Finance Minister has given lot of positive energy to the Equity Market and Investors . It is expected that he will review the retro Tax provison which has created negative sentiment in the financial Market since announcement in the last Union Budget by Mr Mukherjee . He has also assured to announce some plan for fiscal consolidation which has been the biggest woory of India since last few years due to out of control Government subsidy and no show in Disinvestment of PSU shares . It is likely that looking into the 2014 Union election of India he might be having the mandate from the Congress supremo and PM to announce some positive and market friendly policy . In Forex market INR is expected to move around 55~56 Level but any major announcement from Government on Retail FDI etc will take the rupeee to around 53~54 level .The slowdown in Indian Economy is reflected in the direct Tax collection data which has been released for the period April ~July 2012 . It has grown only 4.68% to 1.39Lakh Crore YOY . FIIs are showing high confidence on Indian Market as against any other emerging Economy and has brought USD 2 Billion in July 2012 . It is expected that Swedish Company IKEA will agree to the condition imposed by Indian Government and if it happens India will get big FDI .
International
The spanish 2 year Bond yield has come down to 3.42% from the high of 7% . The US Equity market has touched 3 Month high with the expectation that situation will improve in EU due to ECB support. The Morgan stanley Composite Index - World Equity index is rising and has touched the highest level since May 2012 with optimism of Global economy recovery . Australian & New Zealand Economy is doing very good and their currency has performed very well against USD since last few Months
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