Downgrade Warning
S&P affirms negative outlook on India, says chances of downgrade remain
Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday. Full Article
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MARKET EYE WEEKAHEAD-Econ data, global risk key for Indian stocks
* Indian stock indices are expected to remain range-bound ahead
of key economic data and uncertainty in the global risk
environment, while the Diwali holidays should keep volumes thin.
* Markets will be opened on Tuesday for a short trading session,
and will be closed on Wednesday.
* Companies will continue to post earnings results, including
from Spicejet and DLF.
* India will also start the auction of 2G airwaves.
* Economic data will also be key, with the country set to post
industrial output as well as inflation data.
* Global risk factors will also be vital amidst continued
uncertainty in the euro zone and budget negotiations in the
United States intended to ward off the so-called fiscal cliff.
Mon: Earnings: Spicejet, DLF, Jaiprakash
Associates ; India 2G telecom auctions start; Sept
industrial output data; Oct. CPI
Tues: Special Diwali trading session (1545-1640 India time)
Wedns: Markets closed; Oct WPI
(manoj.dharra@thomsonreuters.com)
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