Moneycontrol Bureau
The Rail Budget 2012 did not have anything meaningful for the markets to feed on yesterday. The performance of railway stocks too was a mixed bag. Nifty closed a range-bound session with a 35 point gain, while the Sensex added over 100 points.
Today, all eyes will be on the credit policy and the tone of RBI towards easing of monetary cycle. Watch out for moves, especially on the banking stocks. Also keep an eye out for agriculture-based stocks such as sugar and fertiliser after the Economic Survey of India that is set to be announced today.
But it is still not end-game for the Railway story. The Rail Budget snowballed into a political drama late evening, with Mamata Banerjee demanding removal of Dinesh Trivedi as Railway Minister over the passenger fare hike he announced. Banerjee named Mukul Roy as replacement. TMC is set to do a dharna outside parliament againt the price hike.
Even as experts say that Budget 2012 may not have any big bang reforms, sources of CNBC-TV18 say that Budget 2013 will have several measures for capital markets and will be positive for equities. Several elements such as DTC is likely to be brought in only then.
Officials sources have told the media that India may allow additional sugar exports of 1 million tonne.
The Bombay High Court has said that Sebi will reconsider the MCX-SX application in terms of HC observations. The court is set to hear MCX-SX
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