A
flat start awaits the Indian stock market as investors begin to digest
the effects or after effects of the global developments. Italian
Prime Minister Silvio Berlusconi has resigned to the fact that his
stepping down after the adoption of key reforms would boost the image of
Italy. Greece is weighing all options or rather finding all avenues to
get emergency funds to avert bankruptcy; Prime Minister George
Papandreou had announced he will step down.
With
a host of results being announced today stock-specific activity will be
seen. The inflation and IIP data is also awaited this week. Investors
may adopt a cautious approach given the fact that markets are closed
tomorrow.
The
global markets are more or less positive. Japan’s Nikkei Stock is up
almost a percent. South Korea’s Kospi is also up. US indices staged a
rally ending nearly at the day’s high.
India's
merchandise exports fell to a 12-month low of US$19.9bn in October
triggering the trade deficit to rise to a four-year-high of US$19.6 bn
in the month. The Centre’s indirect tax revenue dropped 2.5 % to Rs
302.78bn in October.
