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

Fri Nov 30, 2012 3:38pm IST

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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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