February 22, 2013 / 3:07 AM / 4 years ago

MARKET EYE-SGX Nifty falls; stocks seen weak until budget

* Nifty futures on the Singapore Exchange fall 0.2 
percent, while the MSCI-Asia Pacific index excluding Japan  
 rises 0.3 percent. 
* Asian shares edged higher on Friday, recouping the previous
day's steep losses, as investors reassessed the Federal
Reserve's commitment to its current accommodative policy while
weak U.S. and European data clouded growth prospects, limiting
gains. 
* Foreign investors bought 12.13 billion rupees of stocks, while
domestic institutions sold 2.28 billion rupees of stocks on
Thursday, when the BSE index fell 1.62 percent.  
* India's austerity push in a budget to be unveiled on Thursday
threatens to have the unintended impact of adding to
inflationary pressure, hampering chances for rapid interest rate
cuts that the government wants, central bank officials told
Reuters. 
* Shares are expected to remain under pressure until the 2013/14
budget is unveiled on Feb. 28, dealers said. 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)

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