Finance Minister P Chidambaram on Friday downplayed the lowering of India's credit outlook by global rating agency Fitch, saying it is not a cause of worry as economic fundamentals are strong.
"One rating agency has revised the outlook from stable to negative. I do not think that should cause us too much worry. We must look at fundamentals which I believe are still strong, but facing difficulties. I do not think we should worry about outlook," Finance Minister P Chidambaram said.
Fitch has earlier this week revised the local currency outlook of India to negative from stable because of fiscal pressures.
Friday, July 18, 2008
MARKET PREDICTION
GLOBAL MARKETS ARE IN POSITIVE NOTE ..
OIL BREACH TO $129(APRX).GOLD ALSO CORRECTED SIGNIFICANTLY,
NIFTY WILL OPEN IN POSITIVE NOTE RANGE BETWEEN 3950-4040-4100.
IF MARKET HOLDS 3950 BUY WITH SL OF 3920 AND IF IT DOESNOT HOLD 4040 WITH SL OF 4060 GO SHORT.
TOTAL MARKET OI IS 68 K CR AND JULY OI IS 56 K CR AND AUGUST IS 10 K CR.
INFLATION INCHED UP A BIT TO 1.91%VS 1.89% LAST WEEK.
HAVE A NICE WEEKEND.
-MR SAM
OIL BREACH TO $129(APRX).GOLD ALSO CORRECTED SIGNIFICANTLY,
NIFTY WILL OPEN IN POSITIVE NOTE RANGE BETWEEN 3950-4040-4100.
IF MARKET HOLDS 3950 BUY WITH SL OF 3920 AND IF IT DOESNOT HOLD 4040 WITH SL OF 4060 GO SHORT.
TOTAL MARKET OI IS 68 K CR AND JULY OI IS 56 K CR AND AUGUST IS 10 K CR.
INFLATION INCHED UP A BIT TO 1.91%VS 1.89% LAST WEEK.
HAVE A NICE WEEKEND.
-MR SAM
Subscribe to:
Posts (Atom)