Vikram Nanivadekar of Verity Analytics feels that the rupee is likely to be volatile but may gain some ground on global equity market cues & the dollar's movement overnight.
We expect GDP growth to decelerate to 7.7% in FY12 from 8.5% in FY11. Govt spending and consumption growth may also slowdown.
The market was very flat, but it could have been otherwise, said Udayan Mukherjee, Managing Editor, CNBC-TV18. He further said Reliance Industries was the big drag on trade.
The markets weathered weak global cues and closed largely flat. The Nifty slumped below the 5,450 support level in early trade, but managed to claw back above 5,480. The Sensex too closed flat at 18,266.
In an interview with CNBC-TV18, Martial Godet, Head of Investment Management New Markets, BNP Paribas said the global pressure is still there. “Definitely, we are not out of the woods,” he added.
The Nikkei stock average lost ground in thin trade on Monday, hurt by a surprise fall in Japanese machinery orders, further signs of a global economic slowdown and share declines for Toyota Motor Corp after a weaker-than-expected earnings forecast.
Indian equity benchmarks closed flat on a first session of the week. The market showed smart recovery in the afternoon trade after seeing sell-off in the morning trade due to weak global cues.
While Reliance has been a drag, NTPC tried its best to offset some of those losses which helped market to see a comeback from the early morning levels, Udayan observes.
Managing director at Vertex Securities, Ashok Mittal says there is nothing on the inflow side that is encouraging. He says, “Rupee depreciation will continue for some more time and therefore, it is better to be on the long side as far as dollar-rupee is concerned.”
Equity benchmarks were hovering around their previous closing values after sharp recovery from day's low. PSU oil & gas, power, capital goods, telecom and private financial companies' shares were leading the markets.
In an interview with CNBC-TV18, Hemindra Hazari, head of equity research of Nirmal Bang Institutional Equities, spoke about his reading of the market and his outlook.
Hans Goetti, CIO Asia, Finaport, in an interview with CNBC-TV18 said though the Indian market was an underperformer in the first half relative to the rest of Asia it may actually change if the QE2 ends as planned.
Anu Jain, Vice President - IIFL Private Wealth Management is negative on banking stocks.
Mahantesh Sabarad, senior analyst at Fortune Equity Brokers discusses on CNBC-TV18 the impact on auto stocks on the newsflow emerging from the standoff between Maruti and its workers at their Manesar plant as well as the government's decision to extend a tax break for exporters beyond the June 30 deadline.
Devang Mehta, Vice President & Head - Equity Sales, Anand Rathi Financial Services joins CNBC-TV18 to opine on the market movers and give his insight on the stocks
Newmont Mining Corp, the world's No 2 gold producer, sees prices for the precious metal rising up to USD 1,600 this year and then above that next year, on growing demand from Asia's burgeoning middle class.
The Indian benchmark indices were trading flat with positive bias in the afternoon trade. Some buying was seen in capital goods, power and pharma stocks. However, metal, oil & gas and realty stocks were trading weak.
The BSE Sensex shed 0.6% on Monday as investors braced for a tighter monetary policy this week, which could pile more pressure on slowing corporate earnings.Weak Asian peers that were weighed down by worries over the global economy also added to the negative sentiment, traders said.
Equity benchmarks recouped its early trade losses, supported by heavyweights ONGC, NTPC, Bharti Airtel, HUL, ICICI Bank, L&T and HDFC Bank at 12:08 hours. The Nifty turned back above the 5450 level amid choppy trade.
Gold fell by 0.14% in futures trade today amid a weak trend overseas along with profit-booking by speculators.
Ajay Parmar of Emkay Global Financial Services is bullish on Havells India and Kajaria Ceramics from the midcap space.
Portfolio Manager PN Vijay talks to CNBC-TV18 about select stocks and sectors like Maruti, TCS, Infosys, RIL, ONGC and the banking and IT space.
Arjuna Mahendran, Head-Asia at HSBC Private Bank (Suisse) SA, said that once the US market starts marking healthy recovery, FII flows will start returning to the emerging markets.
Indian equity benchmarks were trading lower on the back of consistent fall in Asian markets. Technology, capital goods, metal, realty, financial, cement and select healthcare companies' shares were taking beating at 10:48 hours.
The euro bounced on Monday, though its gains appeared short-lived as major European powers continue to haggle over a fresh rescue package for Greece, while Asian stocks extended a seven-week losing streak on fears the global recovery is losing steam.