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Mint update| Opening bell

Mint update| Opening bell
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First Published: Fri, Feb 25 2011. 08 13 AM IST
Updated: Fri, Feb 25 2011. 08 13 AM IST
Mumbai: The Cricket World Cup is on and the Budget is three days away. But all asset classes are tuned in towards the pro-democracy protests in North Africa. It was so on Thursday. Friday is unlikely to be much different. Still, here is a list of things you should know before trading starts.
Gaddafi shot! That single bit of news was enough for crude to cool down from its highs. Brent crude prices were last trading at $111 levels, much lower than the $120 they flirted with earlier in the day. Of course, the Saudis’ reassurances to support supply also helped. Read more...
Overnight markets inversely tracked crude oil prices. But as oil dipped towards the end of the trading sessions, stocks recovered off lows. Still, the Dow Jones Industrial Average closed 0.31% down. That has a positive rub-off on Asian markets which opened slightly up. Read more...
As if triple digit crude oil prices and political turmoil wasn’t enough to hammer markets yesterday, Indian markets had an additional burden to carry. Food inflation numbers came in yesterday at 11.49% for the week ended 12 February up from the previous week’s 11.05%. Followed by soothing noises from government officials. Read Liz Mathews’ report on what the PM said.
Meanwhile in India, it’s Railway Budget day today. Will there be fare hikes? Will we get better fare from the Railway kitchens? Will it be a farewell rail budget for Mamatadi given her Bengal chief ministerial ambitions? Read this for an assessment of the promises she kept from the previous Rail budget.
Also, the economic survey, the annual wish list of finance ministry economists, will be tabled in parliament. Here’s an access this document.
Amidst all this gloom, here’s a bit of good news for tax payers. The FM is expected to pull out a surprise from his pocket reducing tax burden for those who earn up to 5 lakh per annum to compensate for the higher cost of living. But wait till budget day before you blow up the tax savings on champagne.-
And finally, we know it may take only 14 muscles to smile, but doing so forcibly might not just do great things for you at work, a study shows. So the next time your boss does get to you, maybe a fake smile is not the best option! Sort it out and smile genuinely. Read more...
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First Published: Fri, Feb 25 2011. 08 13 AM IST
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