Markets Weekahead - Record high CA deficit may weaken stocks

Sat Mar 30, 2013 4:46pm IST

A dealer reacts while trading at a stock brokerage firm in Kolkata May 7, 2010. REUTERS/Parth Sanyal/Files

A dealer reacts while trading at a stock brokerage firm in Kolkata May 7, 2010.

Credit: Reuters/Parth Sanyal/Files

Related Topics

Reuters Market Eye - Broader sentiment is expected to be weak in Indian stocks after data showed the current account deficit widened to a record high 6.7 percent of GDP in the October-December quarter.

However, the data, coming out after market hours on Thursday, also showed the balance of payments turned positive.

Still, traders say macro-economic indicators may have bottomed out and point to signs of recovery ahead.

Analysts also feel the recent correction in shares have made valuations more compelling.

Drug makers could be in focus as the Supreme Court is due to decide on April 1 whether Novartis AG's cancer treatment Glivec deserves a patent in the country.

KEY EVENTS/FACTORS TO WATCH:

Mon: March HSBC manufacturing PMI, Feb infrastructure output

- Supreme Court ruling on Novartis' Glivec

- Debt/FX markets closed for banking holiday

(Reporting by Manoj Dharra)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage