Opening Bell 18 November | Asian markets trade marginally higher

Mumbai: India is the most attractive equity market in the world from a five-year perspective, Christopher Wood, managing director of CLSA Ltd said in an interview with Mint. Woods expects the Sensex to touch 40,000 if India gets another investment cycle similar to 2002-2009. Asian markets were trading marginally higher led by Japan as buyers stepped in to buy shares after the sell-off yesterday. Third quarter GDP data showed that the Japanese economy had stepped back into recession. Japan’s Nikkei Stock Average was up 2%, Hong Kong’s Hang Seng and China’s Shanghai Composite were trading flat on Tuesday morning. US markets closed on a subdued note on Monday following softer than expected manufacturing data as both the Empire State manufacturing index and industrial production data came in weaker than expected. 

The Nasdaq Composite closed down 0.4%, S&P 500 and Dow Jones Industrial Average closed flat. India’s exports contracted for the first time this fiscal year in October tempering hopes of export led recovery. Although the import growth was subdued, trade deficit widened to $13.3 billion in October from $10.6 billion a year ago due to higher gold imports during the festival season. Adani Enterprises Ltd shares will see some action as it won support from the State Bank of India and an Australian state to help it build a $7 billion coal mine, defying a slump in coal prices that has stalled rival projects. Prime Minister Narendra Modi, has signed a memorandum of understanding for a loan of upto $1 billion from SBI for the mine, rail and port project, which it aims to build by end-2017. Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd (RIL), is raising a combined $1.5 billion from more than two dozen overseas banks to refinance loans taken in 2010 and guaranteed by the parent firm, reports Mint. The troubled heavy truck segment might be coming out of the woods as Tata Motors Ltd, Ashok Leyland Ltd and Eicher Motors Ltd, have reported substantial jump in volumes during this period. Sales of medium and heavy commercial vehicles (trucks and buses) have grown 9% to 90,069 units in the past five months. Lastly, Bill Gates, the Microsoft Corp. co-founder and billionaire has invested an undisclosed amount in Unitus Seed Fund, a $20 million fund that makes impact investments in Indian startups that aim to help serve the country’s low-income population, reports Wall Street Journal India. 0 inShare 0 Comments Subscribe to: Daily Newsletter Breaking News.

PRAVEEN SHARMA

PGDM 3RD SEM .

COMMENTS - MUMBAI STOCK EXCHANGE IS ABOUT TO REACH THE PEAK WITH 40,000 SENSEX VERY SOON.

 

Mumbai: India is the most attractive equity market in the world from a five-year perspective, Christopher Wood, managing director of CLSA Ltd said in an interview with Mint. Woods expects the Sensex to touch 40,000 if India gets another investment cycle similar to 2002-2009. Asian markets were trading marginally higher led by Japan as buyers stepped in to buy shares after the sell-off yesterday. Third quarter GDP data showed that the Japanese economy had stepped back into recession. Japan’s Nikkei Stock Average was up 2%, Hong Kong’s Hang Seng and China’s Shanghai Composite were trading flat on Tuesday morning. US markets closed on a subdued note on Monday following softer than expected manufacturing data as both the Empire State manufacturing index and industrial production data came in weaker than expected. The Nasdaq Composite closed down 0.4%, S&P 500 and Dow Jones Industrial Average closed flat. India’s exports contracted for the first time this fiscal year in October tempering hopes of export led recovery. Although the import growth was subdued, trade deficit widened to $13.3 billion in October from $10.6 billion a year ago due to higher gold imports during the festival season. Adani Enterprises Ltd shares will see some action as it won support from the State Bank of India and an Australian state to help it build a $7 billion coal mine, defying a slump in coal prices that has stalled rival projects. Prime Minister Narendra Modi, has signed a memorandum of understanding for a loan of upto $1 billion from SBI for the mine, rail and port project, which it aims to build by end-2017. Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd (RIL), is raising a combined $1.5 billion from more than two dozen overseas banks to refinance loans taken in 2010 and guaranteed by the parent firm, reports Mint. The troubled heavy truck segment might be coming out of the woods as Tata Motors Ltd, Ashok Leyland Ltd and Eicher Motors Ltd, have reported substantial jump in volumes during this period. Sales of medium and heavy commercial vehicles (trucks and buses) have grown 9% to 90,069 units in the past five months. Lastly, Bill Gates, the Microsoft Corp. co-founder and billionaire has invested an undisclosed amount in Unitus Seed Fund, a $20 million fund that makes impact investments in Indian startups that aim to help serve the country’s low-income population, reports Wall Street Journal India.

Read more at: http://www.livemint.com/Money/zU28NWSpmO7Cywbm7UgRBI/Opening-Bell-18-November--Asian-markets-trade-marginally-hi.html?utm_source=copy

Mumbai: India is the most attractive equity market in the world from a five-year perspective, Christopher Wood, managing director of CLSA Ltd said in an interview with Mint. Woods expects the Sensex to touch 40,000 if India gets another investment cycle similar to 2002-2009. Asian markets were trading marginally higher led by Japan as buyers stepped in to buy shares after the sell-off yesterday. Third quarter GDP data showed that the Japanese economy had stepped back into recession. Japan’s Nikkei Stock Average was up 2%, Hong Kong’s Hang Seng and China’s Shanghai Composite were trading flat on Tuesday morning. US markets closed on a subdued note on Monday following softer than expected manufacturing data as both the Empire State manufacturing index and industrial production data came in weaker than expected. The Nasdaq Composite closed down 0.4%, S&P 500 and Dow Jones Industrial Average closed flat. India’s exports contracted for the first time this fiscal year in October tempering hopes of export led recovery. Although the import growth was subdued, trade deficit widened to $13.3 billion in October from $10.6 billion a year ago due to higher gold imports during the festival season. Adani Enterprises Ltd shares will see some action as it won support from the State Bank of India and an Australian state to help it build a $7 billion coal mine, defying a slump in coal prices that has stalled rival projects. Prime Minister Narendra Modi, has signed a memorandum of understanding for a loan of upto $1 billion from SBI for the mine, rail and port project, which it aims to build by end-2017. Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd (RIL), is raising a combined $1.5 billion from more than two dozen overseas banks to refinance loans taken in 2010 and guaranteed by the parent firm, reports Mint. The troubled heavy truck segment might be coming out of the woods as Tata Motors Ltd, Ashok Leyland Ltd and Eicher Motors Ltd, have reported substantial jump in volumes during this period. Sales of medium and heavy commercial vehicles (trucks and buses) have grown 9% to 90,069 units in the past five months. Lastly, Bill Gates, the Microsoft Corp. co-founder and billionaire has invested an undisclosed amount in Unitus Seed Fund, a $20 million fund that makes impact investments in Indian startups that aim to help serve the country’s low-income population, reports Wall Street Journal India.

Read more at: http://www.livemint.com/Money/zU28NWSpmO7Cywbm7UgRBI/Opening-Bell-18-November--Asian-markets-trade-marginally-hi.html?utm_source=copy