Opening Bell: Markets to get a cautious start, may recover in latter trade. The Indian markets swayed with the global mood and slumped in the last session, breaking their five days gaining streak, though the geo-political tension was the major trigger but the traders were also disappointed by the weak economic growth of the country on domestic front. Today, the start is likely to remain cautious, but some recovery can be seen in the latter part of trade, as US has warned Russia of serious sanctions. There will be buzz in the markets on reports that the government is considering a proposal to allow companies to issue depository receipts like ADR and GDR against debt instruments, in a bid to deepen financial markets. Besides, the option of giving ADR and GDR holders voting right to make such securities more attractive to foreign investors, too is being considered. The construction and railways related stocks will be in action as the cabinet note on allowing foreign direct investment (FDI) in the railway and construction sectors has been cleared. The Department of Industrial Policy and Promotion had proposed relaxation of FDI norms in the construction sector and 100 percent FDI in the railway sector. The sugar stocks too will keep buzzing, as the Government has notified the incentive for sugar mills to export raw sugar. The rate of incentive will be Rs 3,300 a tonne for February and March.
Posted on: Tue, 04 Mar 2014 03:18:44 +0000
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