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Opening Bell

Opening Bell
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First Published: Thu, Mar 10 2011. 08 29 AM IST
Updated: Thu, Mar 10 2011. 08 29 AM IST
Mumbai: Carlos Slim has retained his position as the wealthiest man in the world. While Indian salaries may see a hike of up to 13% next fiscal, the inflation numbers means you are unlikely to disturb that pecking order. Here’s a list of things to watch out for before trading starts.
Overnight markets declined marginally on the uncertainty surrounding oil prices. Amid lack of significant data releases and company earnings, the Dow ended flat at 12213.10 while the S&P 500 lost 0.14%.
The unrest in Libya continues, this time an oil facility being targeted by pro-Qaddafi supporters and that has shaken oil markets, despite US government reports showing a buildup in crude supplies. Brent Crude rose 2.8% and is trading at $116 a barrel. Read more...
The number of people believing government projections seems to be shrinking. Well, at least by one after Morgan Stanley, it’s Bank of America-Merrill Lynch’s turn to lower its GDP estimate for FY12 to 8.2%. Read here why they have done so
Old timers at Mint told us how Pranabda’s Budget was a throwback to the 80s with tax tweaks on everything from balloons to corrugated cardboard boxes. That image has been reinforced as it appears that the government may roll back some of these taxes. Read more...
Mercifully, the government has denied the roll back on the petrol decontrol policy though. Still, one fact that cannot be denied is that oil retailers, which are already bleeding by selling diesel, kerosene and LPG at subsidized rates, will also have to deal with losses on petrol sales. Oil firms are unlikely to hike petrol prices until the crucial assembly polls in May, considering the political sensitivity of the matter. Read more...
Meanwhile, the government is seeking to empower itself to order the manufacture of drugs without seeking the permission of the patent holder, in the face of stiff opposition from multinational drug companies and lobby groups. Mint’s Asit Ranjan Misra has the story here
TalkMarkets is not a prophet of doom or gloom. Here’s something to cheer about. February auto sales figures hit a record high encouraged by growth in the country, a stronger middle class and easily available loans. But will this growth be sustainable with high input costs, tightening liquidity and rising crude oil? Read more...
Well, maybe we spoke too soon from gloom. Watch for food inflation numbers due today.
Now, a former mutual fund house chief is bound to change things a bit at Sebi, isn’t it? The capital markets regulator has changed the definition of exit loads which could just help asset management companies boost their balance sheets. Read definitions...
And finally, here’s a way to beat those scalding hot petrol prices while helping someone else! In an innovative concept, car owners who are traveling to a particular destination double up as casual courier services. Read for idea...
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First Published: Thu, Mar 10 2011. 08 29 AM IST
More Topics: Markets Update | Oil | Libya | Brent | Asia |