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Mint update| Opening bell

Mint update| Opening bell
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First Published: Mon, Feb 28 2011. 08 01 AM IST
Updated: Mon, Feb 28 2011. 08 01 AM IST
It’s Budget Day! The day when Indian markets shut their eyes and ears to the outside world. Will it be reforms or welfare measures? Rising subsidies or smaller fisc? Tax cuts on balloons or rosagollas? We won’t know until 11 am, but here’s a list of things you should watch out for before trading starts.
For those who came in late, last week was one of the worst in recent memory for stocks as oil prices heated up. Read more…
Today morning, things aren’t very cheerful either. Stock markets in Japan are trading lower amid concerns of rising tensions in the Middle-East. Both the Nikkei and the broader market index Topix lost over 0.2% in the early trading. Read more...
While there seems no end in sight for the ruckus in the Middle East, it is fast turning into a virulent contagion, the newest one to fall being Bahrain. Read more...
If the protests do spread to Saudi Arabia, then forget about buying that SUV. As it is, oil continues to trade at elevated levels. Brent crude for April settlement advanced $1.51, or 1.4%, to $113.65 a barrel on the London-based ICE Futures Europe exchange.
Still, rising commodity prices are helping producers of raw material. Coal India is expected to rake in an estimated Rs 6,000 crore just by hiking prices. That should add some kick to the stock especially when its production guidance is down. Read more...-
The Sage of Omaha is having none of this doom and gloom though. Warren Buffet in his annual letter to his shareholders says the world’s economic centre, the US, is far from exhausted. Read more...
And in India, the new Sebi chief UK Sinha is revamping the watchdog. Will that lead to a quick implementation of the takeover code and the Jalan committee recommendations on stock market infrastructure is anybody’s guess though. Read it in Mint
Oil billionaire Mukesh Ambani has ratcheted up plans to spend the cash bounty he will receive RIL-BP deal to buy a stake in in IL&FS. Read more...
And finally, here’s one for the road. Bulgarian politicians there are fighting hard to reduce taxes on the local brew-a fruit liquor to revive recession hit economy. Will Pranab cut taxes for Nasik wine? Hic hic…
Do log on to www.livemint.com to join Mint’s editorial team for live chat and commentary during the Budget Speech.
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First Published: Mon, Feb 28 2011. 08 01 AM IST
More Topics: Markets Update | Money | Sensex | BSE | Oil |