Stocks headed for a lower open on Monday
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Stocks in Dalal Street are expected to move lower on Monday inspite of
some positive fiscal moves by the RBI and the union government. Expect
a 200 point fall in the indices on opening bell.A
sian stocks fell after Japan and Hong Kong slid into recession and the
Group of 20 nations delayed agreeing on specific measures to combat
the global crisis.Japan's economy, the world's second largest,
contracted more than economists expected in the third quarter,
confirming it entered its first recession since 2001.Nikkei currently
trading lower by 2.8 percent in early trade.
In the domestic news, Reserve Bank of India today announced more
measures to boost cash in the financial system by raising interest
rate on foreign- currency deposits by 75 basis points with immediate
effect.
Real Estate companies might finally have somethings going their way.
According to the news reports, government might consider subsidizing
new loans by capping interest rates to attract more bidders for public-
private projects.
In a separate development the Centre is reportedly planning a policy
change to allow foreign airlines to invest in domestic carriers with a
cap of just below 26%. Economic times today reported that Mallya is in
initial talks with some international carriers to dilute his stake in
Kingfisher Airlines.The shares of Great Offshore Ltd might see some
action as the controlling stake might be at stake due to margin
pressure on the promoters.
N.Sukumar
Research Analyst
www.kences1.blogspot.com
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