– Namaste… There has been substantial increase in the MFF Free SMS group over last few days which clearly shows the interest of investors in getting important information right onto their palms. MFF would strive to send in the best of info so that the group remains junk free and also keeps up its value over other groups. If you are not a member then immediately type a message saying… join marketfastfood … and send it to 567678.
– The inflation is making top news everywhere today, be it TV or Internet and Iam confident that the same would appear on headlines in print media in the morning. Yes it should appear on headlines as its been long time since the market has been expecting of seeing it in single digit which has finally been fulfilled by the recession! This news is going to cheer the market atleast at the open and what will happen later will be known tomorrow only. MFF expectation’s would however would be discusses here in due course.
– If you all remember MFF was talking about aggressive rate cuts few editions before and that time RBI and the Govt was fearing backlash of inflation if they did so. Those fears have been negated now and there’s enough room to cut lending rates by 200 basis points atleast so that sentiments in the economy can be revived. The elections are on in various states and the Govt can send in positive signals in their own interest which would definitely benefit us too as the money would become cheaper. Indian Stock Market would cheer the move.
– I remember Murli Deora, Oil Minister of Congress led UPA Govt shouting on top of the voice that Petrol prices would be cut once Crude oil prices fall below $61/barrel (I presume he was mentioning Nymex crude), as the oil approached 61/barrel our Prime Minister coolly announced that Fuel prices will not be cut as of now! Today the prices are around at $55/barrel but Sonia Gandhi’s aam admi is still suffering! If I sit to pre-judge why is this happening something tells me that price cut may be reserved as a surprise to the people just before elections. If not these state elections then it would be later so that they can please aam admi few weeks before Lok Sabha elections. Inflation can fall further if fuel prices are cut which will drive money from Fixed to Equities.
– The subsidy is going to be big headache for the incoming Govt as no budget would be presented on February,28 next year and it is going to be just a paper presention. The farm load waiver is going to crunch India’s ratings further. Congress could have announced the waiver themselves out of their funds after all they are rich as they sell tickets to candidates instead of selecting the appropriate ones. The Govt is already worried about lower Tax collections and has summoned Income Tax officers in this regard. The news has been put on MFF website don’t forget to read it, this time in your own interest!
– Things are moving in bad shape, the way ATS of Maharashtra is busy picking more and more people in the Malegoan blast case is threatening the peace of the country. I read the report of Gen.Purohits statement on www.MyIndiaTalks.blogspot.com which shows that many more people may take up this job of terrorising if these Dummy Secular parties don’t change. The events are going against none other than us as a country with religious divide would never attract FDI. Go to the link and read the report for yourself, though sad its interesting. Also send a message saying… join myindia … to 567678 from your mobiles.
– There’s another bad news, this time targetting the reputation of India… The commonwealth games schedules in Oct’2010 in Delhi may not materialise as they may be cancelled to elsewhere. There is some dispute but the Govt should use all its power to save the face of the nation as there would be participants from over Seventy nations! This diminishes my hope of seeing Olympics in India someday.
– We saw further fall in indices on Wednesday, earlier MFF has given levels when Nifty was at around 3150 that though Nifty can move up, it has to first test 2800 or even 2740 and then carry forward. 2800 has been respected by Nifty on Wednesday, the inflation news may bring in some buying but if selling resurfaces then this time we would test 2690 and then move again. We have been saying it many times, that too since many weeks, though you may be bored for the benefit of first time readers… Dont expect anything much before Lok Sabha elections are over! Thanks…