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Opening bell 8 March

Opening bell 8 March
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First Published: Tue, Mar 08 2011. 08 04 AM IST
Updated: Tue, Mar 08 2011. 08 04 AM IST
Mumbai: It is International Women’s day and the papers are choc a bloc with reports on gender equality and so on. Rightly so. You can read Mint specials on this topic here. Meanwhile, here’s a list of things to watch out for before trading starts.
No surprise in overnight markets. The fears of a crude price rise kept markets US markets subdued. The Dow ended down 0.7% while the S&P 500 lost 0.8%.
Asian markets opened slightly mixed on Tuesday as crude eased off a bit.
Qaddafi continues to keep investors and the oil markets on a slow sizzle. Will he go or won’t he? The latest reports say that he may surrender power and oil prices cooled off from a two-year high. Currently trading at $105.11 a barrel, Nymex crude has lost 0.3%.
…But Qaddafi is not the only factor that will determine oil prices as unrest spreads across North Africa and West Asia. Citi has ramped up its estimates. Read more...
At home, the Congress and DMK have decided not to play a game of chicken after all. After all the brinksmanship, they just might cozy up together again. After the drama on Saturday, the ministers from the DMK did not submit their resignations to the PM as planned. Read more...
But that doesn’t solve the inflation or reforms or food problems. It’s not only foreign institutional investors who are pulling out of the country, even limited partners in private equity funds are queasy about investing in India due to the potent mix of inflation, higher rates and political uncertainty. Shraddha Nair reports in Mint.
As if that was not enough, now IPOs could be delayed too. The Securities and Exchange Board of Indian has barred six investment banks from hiring certain retail brokers for another issue until investors who lost out on the Coal India IPO due to technical glitches were compensated. Not very good news for ONGC and SAIL, and thereby the government’s fiscal divestment revenue targets.
And finally, here’s another proof that a sense of humour doesn’t exist in this country.
An anti-superstition body has sought a ban on ‘scary’ TV serials, worried about the reinforcement of such blind faith in society. Read more...
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First Published: Tue, Mar 08 2011. 08 04 AM IST
More Topics: Markets update | Oil | Crude | Congress | DMK |