Alok Sama, president and founder, Baer Cap Partners explains on CNBC-TV18 that the market is in a phase of consolidation with increased global liquidity and risk-appetite driving the current rally.He expects no surprises from the Budget.
"We have avoided the US Fiscal Cliff and the outlook for eurozone is better", says Richard Titherington, JP Morgan Asset Management in an interview to CNBC-TV18. He is optimistic for the outlook for 2013 and believes that now investors are in a mood to take more risk in India than last year.
The rupee witnessed sharp moves over the past year and ended the year with 10 percent depreciation. USD/INR [dollar-to-rupee] had depreciated massively in the first six months to trade at a historic high of 57.32 on June 22, 2012. The continued depreciation of USD/INR was in line with its emerging market peers.
The US fiscal cliff has worried global markets for quite some time and Tai Hui of JP Morgan Asset Management feels there may be some pressure on the market further to the debt ceiling issue.
Maximus Securities has come out with its technical report on Gold. The research firm, expects an outflow from the former to the latter. The outflow that commenced gradually will soon turn into a deluge with investors exiting their positions in gold.
There is all around euphoria surrounding the market with many experts frantically giving out their next 100-150 point target and resistance levels on the upside.
Global markets weathered some huge uncertainties in 2012, of which the biggest were the intensification of the eurozone sovereign debt crisis, doubts over the outlook for the Chinese economy, and worries about the US fiscal cliff. What might 2013 bring?
The rupee is likely to open stronger around 54.60/USD. Weak trade data was offset by the news of a deal on US Fiscal Cliff, which could further support the rupee, says Manis Thanawala, Greenback Forex Services.
IIFL has come out with its technical & fundamental view on currencies. According to the research firm, USDINR Spot prices have support at 54.65 and resistance at 54.95.
Andrew Holland of Ambit Capital believes a solution to the US fiscal cliff could be around the corner. Going into 2013, Holland feels the markets are set for all-time highs and may even book gains of around 15 percent.
Angel Commodities has come out with its report on precious metals. According to the research firm, metals are expected to remain volatile as the investors are adopting a cautious approach as the US fiscal cliff issue remains unresolved yet while US lawmakers resume talks over the same which is nearing the deadline.
Tim Ghriskey, CIO of Solaris Asset Management has doubts about reaching an agreement on the fiscal cliff. According to him, if the politicians agree on a patchwork agreement, it would be disappointing development for the market.
Fortune Financial Servies has come out with its report on bullion, metals and energy. According to the research firm, MCX Crude oil January contract is looking slightly negative for the day.
The yen tumbled on Monday in an otherwise quiet day as a continued deadlock in US budget talks left an undercurrent of uncertainty in markets ahead of the Christmas break.
Angel Commodities has come out with commodities weekly tracker report. According to the research firm, in the coming week, gold prices are expected to trade with a bearish note on the back of worries amongst market participants over the resolution of the fiscal cliff issue.
Market expert Ambareesh Baliga, in his analysis of the day‘s market session on CNBC-TV18, advises investors to wait till there are signs of resolution of the US fiscal cliff.
In an interview to CNBC-TV18, Mehraboon Irani of Nirmal Bang Securities expects India to be among the best emerging markets (EM) in 2013. He credits this to better corporate growth and the hope of a re-rating.
The Sensex continued to trade lower with more than 100-point loss, while the Nifty remained below the 5,900 level. The market is weighed down by banking & financials, oil & gas, capital goods and auto stocks.
Asian shares slid on Friday after a Republican proposal to fend off a US fiscal crunch failed to get enough support, deepening uncertainty over prospects for the negotiations to avert automatic spending cuts and tax increases set to start in January.
Ashok Gautam, senior vice-president and head, global markets-treasury, Axis Bank explains, on CNBC-TV18, that the rupee will be affected by pressure from the dollar which is typical at the end of the year. He forecasts that the rupee will move in the 55.20-54.20 range in the near-term.
Peter Elston of Aberdeen Asset Management Asia believes a deal will be struck with regards to the fiscal cliff. However, the scale of fiscal contraction post the deal might worry the US private sector and the consumers, he opined.
Gold regained strength on Wednesday as the US dollar weakened against the euro, but the metal was still within sight of its weakest in nearly four months after signs of progress in the US fiscal talks dented its safe haven appeal.
The Reserve Bank of India's mid-quarter monetary policy review on and continuing talks on the so-called US fiscal cliff will dictate the near term trend on the stock bourses this week, say experts.
Recovery from the 2008-09 recessions is proving more challenging than was originally predicted. Given the level of challenges facing the global economy we are now forecasting that a period of sustained growth will not be achieved until at least 2017.
Many executives say they're anxious about the US fiscal cliff negotiations, but Dow Chemical Co's chief executive says he's more bothered by the messy Chinese leadership transition, which he believes is wreaking greater harm on global markets.