Weekahead: Markets may extend gains on parliament vote
Reuters - Indian markets 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 stocks may extend gains after a brief consolidation if the vote goes in favour of the government.
The 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 December 18.
KEY FACTORS/EVENTS TO WATCH:
Monday - India Manufacturing PMI for November
Wednesday: India Services PMI for November
Reserve Money data
Thursday - RBI board meet in Kolkata, likely followed by press briefing
Three-day International tax conference begins in Mumbai
Friday - RBI to release forex, bank lending data
Saturday - RBI Governor Duvvuri Subbarao and PM's Economic Advisory Council Chairman C. Rangarajan at IGIDR event in Mumbai
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Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article