The Indian equity market is likely to open flat at 6092 according to SGX Nifty. The market rose 97 points on Monday followed by the Vote on Account presented by Finance Minister P Chidambaram.
FM has chalked out a divestment target of Rs 51,900 crore for FY15. This includes Rs 15,000 crores from a stake sale in Hindustan Zinc and Balco. The government, however, has said that it will complete the Axis Bank stake sale before March 31, 2014.
The other event grabbing eyeballs on Monday was former Delhi Chief Minister Arvind Kejriwal’s statement that the Aam Aadmi Party is not against business or capitalism. Kejriwal further said the party will push for privatisation and fight crony capitalism. The former CM, however, defended actions taken against power discoms and Reliance Industries.
Meanwhile, Asian markets opened mixed this morning. The Nikkei raced away to triple digit gains led by a weaker yen. European markets too closed mixed while the US markets were shut for trade.
The dollar rose about 0.2 percent to 102.10 yen, pulling away from a nearly two-week low of 101.37 yen hit in the previous session, while the euro also added about 0.2 percent on the day to 139.91 yen.
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