Oct. 6–INDIA STOCKS LIKELY TO RISE FURTHER: NRI punters could be looking forward to a profitable week ahead with analysts projecting a third straight week of rise in Indian share prices. Incomingfunds and good crops, are among the factors that are expected to boost corporate results that will be announced this month.
NRIS ALLOWED TO TRADE IN CONTRACTS: From September 1, expatriate Indians have been allowed to invest in exchange traded Sebi-approved derivative contracts out of their rupee funds held in India subject to a Sebi ceiling. Such investments will not be eligible for repatriation benefits.
FOREX HEDGE FUNDS IN VOGUE: There is likely to be a spurt in currency hedge funds from investment banks following the patchy performance of traditional assets and equities. A three-year equity bear market and sharp reversal in the US dollar’s fortunes have woken up investors to the perils of unmanaged currency risks, reports said.
INVESTORS BEGIN TO LOOK AT GOLD: Some investors are beginning to look at gold as being at the beginning of a bull run, said a Reuters report. Gold is up 50 per cent from its lows in 2001 and could provide an alternative for portfolio diversification against the backdrop of worries over the pace of US recovery, weaker dollar, low interest rates and doubts abouts stocks.
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