After few days of deceleration, Indian markets started recovering. In yesterday’s trading session Sensex advanced by 285 points, ending at 17,731 and Nifty rose by 94 points reaching 5.375. Ease in oil prices, offset concerns about rising energy expenses which could undermine efforts to limit inflation and lower interest rates. Gains of yesterday’s trading session were mainly concentrated on buying in Realty and Metal counters, while consumer durables stocks also saw strong gains. Reliance Infra was the top gainer followed by Reliance Communications and Reliance Power. Other infra stocks like JP Associates and IDFC also saw buying interest.
Today the indices also started up, Sensex was trading up 204.90 points or 1.16% at 17,936.02, Nifty was trading higher by 66.25 points or 1.23% at 5,441.75. However markets have reduced the early gains and have turned unstable after the announcement of Q3 GDP data. The Gross Domestic Product (GDP) for the third quarter of the current financial year saw a slower growth rate at 6.1% as compared to 6.9% in the previous quarter. The data is termed to be the lowest in the last 11 quarters.
Asian markets increased sharply today, following the US markets as Japanese industrial production numbers is better than expected. U.S. stocks hiked on Tuesday, the Dow Jones Industrial Average added 23.61 points, or 0.2%, to 13,005.12. The S&P 500 climbed 4.59 points, or 0.3%, to 1,372.18. The Nasdaq Composite rose 20.60 points, or 0.7%, to 2,986.76. Nikkei 225 was up 0.90%, Hang Seng advanced 0.52% and Seoul Composite was up 1.30%.
Other Economic and Political News:
- Higher import duty will hurt sector: Private power companies to PM
- January infra output reduces to 0.5% yoy
- Rising crude oil prices disturbing: Finance Minister
- ONGC, GAIL may offer Rs.9, 800cr for Cove
- IOC gets state permit to draw river water for refinery
- GMR Infra in talks to sell US$200mn in road assets
- Essar Oil loses Rs.302cr insurance claim
It is quite normal for Indians traveling and working abroad to migrate back home. The overall purpose of traveling abroad, only to come back home, is to ensure a good life for the immediate family and for generations to come.
It is for parents' sacrifices for their children's education and strong familial ties that cause children to want to please their parents and to somehow repay them for their sacrifices. Bringing a good income and securing financial stability is one way to please the parents. Most Indians will work abroad saving what money they can for the purposes of buying property back home in India to live a stress-free life. Since the parents will in most cases live with their sons, they will also have the pleasure of enjoying the new home.
Up until recently, most Indians went back home due to familial reasons; however, because of outsourcing and other economic factors, India's economy is booming, while other countries are feeling the sting of the economy, notably the United States. Now, it is for both familial and economical reasons that Indians are returning home to enjoy both family and a sound economy. While the best interest rate on any type of account would yield four percent in the United States, India awards its bank account owners 10 percent on their accounts.
India's economy is skyrocketing. Real estate has tripled in price in just a few short years and there's no sign of it slowing down. Those who wish to settle in the United States, often resort to making money with the stock market, searching for stock market tips and wondering what shares to buy.
Home is where the heart is, but it is also where the family and future prosperity is.
Yesterday markets witnessed a sharp fall, Nifty and Sensex closed at the lowest levels since 2 February 2012. The Sensex decreased by 477.82 points, or 2.67%, to close the day at 17445.75 points, while the Nifty closed down 148.10 points at 5281.20. The markets have opened higher this morning, Sensex is up 197 points or 1% at 17,643. Nifty has gained 59 points to 5,340. A pullback in the banking stocks has boosted the markets today. Reliance Industries, Reliance ADAG, ICICI Bank and ONGC have enhanced in opening trades.
According to the experts, the market has increased too sharply and there is a correction happening now as investors became nervous. There are concerns that increasing oil prices will unable RBI to cut rates. Also the elections in Uttar Pradesh influence the sentiment as investors are looking forward to the Finance Minister’s offer in the Union Budget, which is due on March 16. Foreign investors, who have pumped in over Rs35,000 crore into equities so far this year, remained net buyers on Monday as well — they injected Rs329.09 crore, as per provisional data.
Standard & Poor's on Monday cut Greece long-term ratings to 'selective default’, becoming the second ratings agency to downgrade Greece’s rating after the country announced a bond swap plan.
Asian markets consolidated on Tuesday as high oil prices jeopardize recovery in global economy. The price of oil fell below $109 a barrel as investors booked profits after a 14% increase this month. Japan's Nikkei 225 index was trading 0.7% lower at 9561.62 and Hong Kong's Hang Seng index was trading higher at 21,342.12, up 0.6%. South Korea's Kospi index was trading 0.2% higher at 1996.45. China’s Shanghai index was trading at 2441, down 0.2%.
The Dow Jones industrial average was down 1.44 points, or 0.01%, at 12,981.51. The Standard & Poor's 500 Index was up 1.85 points, or 0.14%, at 1,367.59. The Nasdaq Composite Index was up 2.41 points, or 0.08%, at 2,966.16.
Other Economic and Political News:
- Power Ministry moves cabinet note for duty on equipment imports
- Pvt. Firms may be allowed to bid for intra-state power transmission projects
- Govt. wont auction all 2G Band at one go
- Infosys not to get SEZ status: Mamata
- Investors of Sterlite, Sesa resist merger
- GVK in talks with UK’s BG to sell deep-water block stake
- India not facing any pressure on buying oil from Iran: Oil minister
- Oil companies likely to raise petrol, diesel rates after state polls
- Telenor, Unitech move to restrain each other’s reps in Uninor