Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Economic Survey fails to cheer markets
Wed, 9 Jul Closing

After trading close to the dotted line in the post noon trading session, the Indian equity markets extended their losses and ended the day in the red. While the BSE-Sensex today closed lower by 137 points, the NSE-Nifty closed lower by 38 points. Even the Smallcaps and Midcaps closed lower with both the BSE Mid Cap and BSE Small Cap indices recording losses of 1.4% and 1.8% respectively.

As regards global markets, Asian indices closed on a weak note today. The rupee was trading at Rs 59.7 to the dollar at the time of writing.

As per the Economic Survey of 2014, the Indian economy is expected to pick-up and grow by 5.4% to 5.9% in FY15 despite facing headwinds from poor monsoon and macro-economic conditions. GDP growth had slowed down to a decade's low of below 5% in the past two years. The survey has added that with the global economy expected to recover moderately aided by improved performance in some advanced economies, the Indian economy can look forward for better growth prospects in FY15 and beyond. Economic growth can revert back to 7%-8% level beyond FY16 on the back of measures taken by the government to improve investment climate and governance.

In moving a step closer towards financial inclusion, the government is planning to ask banks to open 200 m bank accounts in a year from this August. The aim is also to provide people access to insurance and pension services. The estimated cost for rolling out the plan is pegged at Rs 17 bn with the aim of having a bank within 5 km of every house by March 2016. A task force will also be set up to monitor this scheme. While the plan appears to be ambitious considering that penetration of financial services in India is low, even if half of the target is met it would be considered as a big achievement. It would be interesting to see how the government performs here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Economic Survey fails to cheer markets". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.