DALAL STREET face
INDIAN BENCHMARK book sharp rally on Mint Street on positive global cues. The Sensex
rose 1.90% while the Nifty rose 1.99% for the week ended December 18, 2015.
GLOBAL MARKET chase
ASIAN STOCKS fell on Friday in a session that turned volatile after the Bank of Japan
announced it would maintain its massive stimulus programme's base money target while
expanding the types of assets it purchases.
U.S. STOCKS index futures poised for a lower opening at the Wall Street on Friday.
EUROPEAN STOCKS fell on Friday, retreating from a one-week high reached in the previous
session as supermarket group Casino lost more ground following a negative research note.
Week ahead
In the coming week, Macroeconomic data, trend in global markets, investment by foreign
portfolio investors (FPIs), the movement of rupee against the dollar and crude oil price
movement will dictate trend on the bourses in the holiday shortened week ahead. India's stock
markets will remain closed on Friday, December 25, 2015, on account of Christmas.
Adani Ports and Special Economic Zone (APSEZ) and Asian Paints will replace Vedanta and
Hindalco Industries from the 30-share S&P BSE Sensex with effect from Monday, December
21, 2015.
On the political front, developments in winter session of the parliament will be closely
watched. The winter session of the parliament concludes on Wednesday, December 23, 2015.
Investors' focus is on whether the Goods and Services Tax (GST) constitutional amendment
bill will be passed in the Rajya Sabha. The constitutional amendment bill for the
implementation of GST, which subsumes all indirect taxes to create a unified market across the
country, has been cleared by the Lok Sabha and is awaiting legislative passage in the Rajya
Sabha. A constitutional amendment bill requires a majority of two thirds in the house for its
passage. The BJP-led NDA has a comfortable majority in Lok Sabha, but lags in numbers in
the Rajya Sabha.
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