ECONOMY ANALYSIS
- SBI Q3 net falls 34% to Rs 2234 cr, asset quality weakens
- Sensex trips 255 pts on IIP data; banks drag, Jan WPI eyed
- Stocks in news: Bharti, IOC, ONGC, Sun Pharma, Amtek India
- SBI Q3 net falls 34% to Rs 2234 cr, asset quality weakens
- ONGC Q3 net up 17.5% to Rs 7126 cr on higher other income
- World Bank probes Tata Tea project over worker abuse
- M&M Q3 profit up 12% to Rs 934 cr, tractor biz support.
MARKET ANALYSIS
- MUMBAI: The Nifty staged a strong comeback in the last hour of trade on the back of short coverings ahead of the interim Union Budget.
- While the event will be a vote-on-account for two months, there are expectations that the finance minister may surprise with fiscal deficit figures.
- "As far as vote of account is concerned, everybody's eye is on the fiscal deficit for the current year ending in March 2014 and if at all the market has to react positively, then that number has to be met or slightly better. That can act as a bit of a trigger for the current upside which we are seeing," said Dipan Mehta, Member, BSE and NSE in an interview to ET Now.
- Analysts say at Standard Chartered, finance minister P Chidambaram is likely to meet the fiscal deficit target of 4.8 per cent of GDP for FY14, which he has defined as the "red line".
- "As for FY13, the finance minister is likely to cut expenditure to meet the fiscal deficit target. The government reduced plan expenditure by Rs 90,000 crore in the last four months of FY13, surprising the market," the Standard Chartered report said.
INDIAN MARKET
|
INDEX
|
CLOSE
|
CHANGE
|
% CHANGE
|
|
SENSEX
|
20366.82
|
173.47
|
0.86
|
|
NIFTY
|
6048.35
|
47.25
|
0.79
|
|
BANK NIFTY
|
10203.75
|
68.05
|
0.67
|
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