The Indian equity market will be keeping its fingers crossed
as the countdown to the Vote on Account begins. The government will present an
interim budget for FY15. Intraday Market is likely to be watchful for the
government's progress on fiscal consolidation. According to the SGX Nifty, the
market is likely to open up 21.5 points at 6083.
The Intraday market has opened on a positive
note as all eyes are focused on the Vote on Account that Finance Minister P
Chidambaram will announce in the Parliament today at 11 am. The Sensex is up
71.76 points at 20438.58, and the Nifty is up 9.80 points at 6058.15. About 185
shares have advanced, 84 shares declined, and 11 shares are unchanged.Tata Motors, Tata Power, L&T, Axis Bank and Dr Reddy's Labs are top losers
in the Sensex. Among the losers are Coal India and Reliance.
The Indian rupee
opened on flat note at 61.96 per dollar versus 61.92 Friday.Asian markets rose on Monday while investors shrugged off
weak economic data from Japan. Meanwhile, crude prices gain, supported by a
weaker dollar. And in the precious metals space, gold prices hit fresh
three-month highs adding to gains after posting its biggest weekly rise in six
months.
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