A better start - IIFL

A positive September month with ~7% gains has just gone by and October comes with more pessimism than optimism. Fitch's India Ratings says unless the prices of diesel, petrol and LPG are raised, the fiscal deficit could exceed 5%. The outlook is a positive start. Indices may languish in a range with lack of positive triggers. Global cues are mixed.

The Report of the Dr. Raghuram Rajan Committee for Evolving a Composite Development Index of States has been submitted to the Union Finance Minister P. Chidambaram. Using the index, the Committee has identified the "Least Developed" States as Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Meghalaya, Odisha, Rajasthan and Uttar Pradesh, the Finance Minister added.

Japan's Nikkei is marginally lower while Hong Kong's Hang Seng index is down 0.10%. South Korea's Kospi index is up 0.28%. China's Shanghai index was trading 0.24% higher at 2,161.69. In the US, the S&P 500 and Dow snapped five-day losing streaks following positive job market data.

Source : Equity Bulls

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