Markets to see a positive start reacting to ease of doing business report

01 Nov 2017 Evaluate

The Indian markets after a lackluster trade ended modestly lower in the last session following the subdued trend in the other global markets. Today, the start is likely to be in green amid positive global cues and traders will be reacting to the report of India’s ranking in the World Bank ease of doing business survey for 2018 climbing a record 30 notches to 100, as a range of regulatory and policy reforms put in place by the Union and state governments over the past four years started delivering results. The survey also recognized India as one of the top five reformers in this year’s assessment. Finance minister Arun Jaitley has said the target of making it to the top 50 countries in the Doing Business ranking now seems doable. Traders will also get some encouragement from the economy front, as the Core sector growth hit a six-month high in September. The index of eight core industries was up 5.2% in September, compared with 4.4% in August and 5.3% in September last year. Also, fiscal deficit improved to 91.3% of the budget estimate at the end of September from 96.1% at the end of August as revenues picked up pace. Fiscal deficit is pegged at Rs 4.99 lakh crore at the end of September, down about Rs 26,000 crore from August as second instalment of corporate taxes allowed revenue to exceed spending in the month. The banking space will keep buzzing, as the Country's largest lender, State Bank of India has announced a cut in marginal cost-based lending rates (MCLR) across maturities by 5 basis points.

The US markets made a modestly higher closing in the last session and though the buying interest was somewhat subdued, the tech-heavy Nasdaq reached a new record closing high. Traders are looking ahead to key economic data and earnings news in the coming days. The Asian markets have made mostly a positive start of the new month, Japanese market was trading near all-time highs, as American consumer confidence data strengthened optimism in the growth outlook and investors shrugged off the latest turmoil in Washington.

Back home, Indian equity benchmarks ended the sluggish day of trade with marginal losses on Tuesday, as traders remained cautious with a report from domestic rating agency Care Ratings, which said that employment generation has not kept pace with GDP expansion and termed it as a ‘major concern’. Such a scenario calls for proactive measures from government and the recent infrastructure building efforts will help, it noted and said that employment growth has not kept pace with economic growth. Traders overlooked report that the government has extended the last dates of filing GSTR-2 and GSTR-3. The last date for filing of GSTR-2 for the month of July, 2017 is 31st October, 2017, while the last date for filing of GSTR-3 for the month of July, 2017 stands extended to 11th December, 2017. Besides, Finance Secretary Ashok Lavasa statement that India’s fiscal deficit is on the path of recovery, with showing an ease of about 90 percent of the budget estimate for the full year at the end of September from the level of 96.1 percent at the end of August, too failed to provide support. However, losses remained capped with SBI Research in its latest report accessing that Indian economy is likely to improve to 6 percent in the second quarter of the current fiscal year 2017-18, as against 5.7 percent growth in the first quarter of FY18. It also said that Q2 growth might be in the lower end of 6-6.5 percent band with an upward bias. Traders also took some comfort with report that India is expecting a significant improvement in ranking in the World Bank's ease of doing business index on the back of several steps taken by the government like bankruptcy law and host of other reforms. Traders also got some solace with few foreign investment banks, who have started revising upwards their targets for the benchmark indices on the back of bank recapitalisation programme, infrastructure push and continued inflow of domestic savings into equities and said that best is yet to come for Sensex and Nifty. Finally, the BSE Sensex lost 53.03 points or 0.16% to 33,213.13, while the CNX Nifty was down by 28.35 points or 0.27% to 10,335.30.

SEBI Registered: Investment Adviser - INA000013323

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity - May 16, 2019 - Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Warning: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Disclaimer: Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provides any assurance of returns to investors.

Compliance Officer:

Name: Shrikant Jagtap

Email: shrikant.jagtap@moneyworks4me.com

Mobile No: +91 97638 00745

Grievance Officer:

Name: Mukta Vaze

Email: mukta.vaze@moneyworks4me.com

Mobile No:+91 98609 19463

Principal Officer:

Name: Atharva Bhide

Email: atharva.bhide@moneyworks4me.com

Mobile No:+91 91758 99463

SEBI regional/local office address -

Plot No. C 4-A , G Block, Near Bank of India, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051

Address:

The Alchemists Ark Pvt. Ltd., B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

*Color code for outperformance consistency

*Number is average 3 year rolling returns

Want to invest successfully in stocks?

How the heck do you select a solution that ensures it?

Check how good is your current solution!

Does it get you focused on meeting your financial goals?

Investing is to means to funding your goals. Your solution must help you get clarity of your goals and how you should invest to reach them. Does your solution include Financial Planning?

Does it have a way of investing that you are confident will work for you?

Are you clear of the rationale behind recommendations?

Do you have a way of answering the most important questions: Which stocks are worth investing in, at what price and how do you build your portfolio?

Does it make it easy to find opportunities without wasting your time?

Are you spending too much time finding opportunities?
Do you have a way of knowing when opportunities from your chosen set of stocks arise in the future?
How confident are you about them?