Markets Weekahead: Shares seen recovering; finmin assurance to help
Reuters Market Eye - Indian shares are seen recovering losses sustained in the run-up to and after Thursday's budget as the market's focus shifts back to earnings and the central bank's rate meeting on March 19.
Clarification on the tax residency issue, which in part led to the budget day selloff, is also seen calming overseas investors. (Read Chidambaram's clarificatihere)
Also on watch, aviation stocks as the regulatory body on foreign investment meets on Wednesday to consider a proposal by AirAsia Bhd (AIRA.KL) to invest in an airline joint venture with the Tata group.
On the global front, a host of central banks meet next week including ECB, BOJ, BoE and RBA on policy.
KEY FACTORS/EVENTS TO WATCH
Tues: Feb Services PMI at 10:30 a.m. IST
Wed: Money Supply data at 3 p.m. IST
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier.. Full Article | Full Coverage