Winter session of parliament in focus for investors
Reuters Market Eye - Stock investors in India have their sights fully on the winter session of parliament set to start on Thursday. The government's will to pass reforms is considered critical to revive stock markets that have faltered over the past month-and-a-half.
The benchmark BSE Sensex rallied 7.7 percent in September when the government announced a slew of measures, including opening up the multi-brand retail sector to foreign investment, that don't require parliament's approval.
However, worries about implementation and the uncertain passage in parliament of other key measures, such as foreign direct investment in pension and insurance, have contributed to a 2.4 percent fall in the BSE index since the start of October.
On the global front, developments in the euro zone as well as on the U.S. "fiscal cliff" could also weigh on sentiment.
KEY FACTORS/EVENTS TO WATCH: Monday: Two-day RBI-Asian Development Bank conference. Thursday: Winter session of parliament begins. Friday: Bank credit, forex reserves data.
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article