MARKET EYE WEEKAHEAD-Indian stocks may extend gains on parliament vote

Fri Nov 30, 2012 3:38pm IST

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Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

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* Indian stocks will closely track the vote on foreign direct
investment in multi-brand retail in the parliament and
manufacturing PMI for November next week.
* The ruling Congress party-led alliance is expected to muster a
majority in the lower house, but faces a tougher challenge in
the upper house of the parliament.
* Dealers say Indian stocks may extend gains after a brief
consolidation if the vote goes in favour of the government.
* India's Manufacturing PMI for November is also a key data to
watch in the context of rising rate-cut expectations ahead of
the RBI policy review on Dec. 18.

KEY FACTORS/EVENTS TO WATCH:
Sat: RBI Governor Duvvuri Subbarao and PM's Economic Advisory
Council Chairman C. Rangarajan at IGIDR event in Mumbai.
Mon: India Manufacturing PMI for November.
Wed: India Services PMI for November.
    Reserve Money data.
Thurs: RBI board meet in Kolkata, likely followed by press
briefing.
    Three-day International tax conference begins in Mumbai
Fri: RBI to release forex, bank lending data.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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