SENSEX NIFTY
Dec 06, 2012, 10.56 AM IST | Source: CNBC-TV18

Retail FDI not material issue for mkt; focus on stocks

The Lok Sabha is done with voting on FDI and for the next couple of days the drama shifts to the Rajya Sabha. Hopefully, things will move along expected lines there as well. Global markets are stable today.

The Lok Sabha is done with voting on FDI and for the next couple of days the drama shifts to the Rajya Sabha. Hopefully, things will move along expected lines there as well. Global markets are stable today.

The Nifty has also been steadily inching higher over the last couple of days. Traders should not complaint because lots of individual sectors have been giving very good gains and it looks like that recipe should hold today as well, said CNBC-TV18’s managing editor Udayan Mukherjee.

Today might be a bit aggressive particularly with all the noise around the Rajya Sabha. Our market may do what we have done for the last couple of days, which is just inch up a little bit on the index. The index matters much less this week; it is all about what is happening with other cluster. Yesterday, metal and real estate stocks performed very well yesterday.

There are very lively corners in the market right now, which is generating enough excitement for traders to worry about the index. The index will do what it has to do. Targets of 6,000-6,100 may well come about in the next week or so, but for now the game is about individual stocks. People are having quite a party there.

As far retail FDI voting is concerned, it looks like a tamasha which is going on in the Parliament. The foreign direct investment (FDI) in retail is not such a big deal for the stock market. Everybody is watching it and having some fun on the margin, but I do not think it is such a big event if it were to come through or not.

From market perspective, we need to see after this issue is out of the way, what happens with other bills. This is like a hurdle, which needs to get cleared to get the meat. This in itself does little for the stock market. Even if it were to come through, the way things are positioned right now; it is unlikely that billions of dollars will come in the next three-six months. I do not think this is the material issue.

It does not matter to the stock market. But the way things were managed yesterday in parliament, it was quite distasteful. After Instances like this, one knows why people have such scant respect for politicians in this country and one can only hope that the end justifies the means.

1 2
READ MORE ON  FDI, Rajya Sabha, Nifty

ADS BY GOOGLE

video of the day

Go for midcaps in cement space, bullish BPCL, IOC: HDFC Sec

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.