MARKET EYE-SGX Nifty falls as uncertainty grows over 'fiscal cliff'
* Nifty futures on the Singapore Exchange falls 0.52 percent. The MSCI-Asia Pacific index, excluding Japan is down 0.68 percent. * Asian shares slid on Friday after a Republican proposal to fend off a U.S. fiscal crunch failed to get enough support, deepening uncertainty over prospects for the negotiations to avert automatic spending cuts and tax increases set to start in January. * Foreign investors bought 4.66 billion rupees of stocks, while domestic institutions sold 4.44 billion rupees of stocks on Thursday, when India's BSE index fell 0.11 percent. * Dealers say with parliament's winter session over, the rally's extension would not depend on how well RBI manages slowing growth and sticky inflation. (email@example.com /; firstname.lastname@example.org)
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Surprise Rate Cut
The Reserve Bank of India (RBI) lowered its policy repo rate by 25 basis points to 7.5 percent on Wednesday, its second inter-meeting cut this year on the back of easing inflation and what it said was the "weak state" of parts of the economy. Full Article