need2know: Seven macro triggers that may move your market today

The labour ministry plans to notify minimum wages on November 1, a move that will benefit all class of workers including agricultural labourers who will see a jump of over 100% in daily wages. The ministry will also move an amendment to the Minimum Wage Act to make the minimum wages universal, said labour minister Dattatreya.


Here's six more macro-economic triggers that are likely to impact the market today

Fiscal deficit in April-Sept 83.9% of FY estimate: Halfway through 201617, the government has run up a fiscal deficit of 83.9% of the full-year budget estimate compared with 68.1% a year ago, suggesting some fiscal challenge for the government. The government is still expected to meet the target of fiscal deficit of 3.5% of GDP as slippage halfway through the year is largely on account of slower non-tax revenue growth, which tends to be lumpy and could recover in the second half of the year.

Core sector at 3-mth high of 5% growth in Sept: Higher refinery output and steel production helped India's core sector expand to a threemonth high in September, suggesting some firming up of infrastructure activity. The core sector output grew 5% in September from a year ago compared with 3.2% expansion in August, data released by commerce department on Monday showed. Experts are still not reading too much in the uptick.

Indian economy prepared for Fed rate hike: The Indian economy is well-prepared, even if not completely immune, from any external risk in case the US Federal Reserve normalises rates in December, says a DBS report. According to the global financial services major, expectations that the US Fed might normalise rates in December have been rising and the resultant risks of a stronger dollar accompanied by a rise in rates are under watch.

States competing for investor: India will broaden its reform drive for next year's state rankings on the ease of doing business. With Andhra Pradesh and Telangana sharing the top spot in the `Assessment of State Implementation of Business Reforms 2015-16', commerce and industry minister Nirmala Sitharaman said low-income states have shown the biggest improvements, implementing 70%-90% of the Department of Industrial Policy and Promotion's (DIPP) business reforms agenda. The high-performing states in the second edition of the ranking include Telangana (13th to first spot), Haryana (14th to sixth spot) and Uttarakhand (23rd to ninth spot).

Deadline for companies to submit annual filings extended: Corporates have been given more time to submit their annual filings under the companies law with the government extending the deadline by one more month. Ministry of Corporate Affairs (MCA) has extended the deadline till November 29 for the companies to file their annual returns and financial statements, after receiving representations from various stakeholders.

Domestic M&As dominate deals landscape in Q3: Domestic merger and acquisition (M&A) activity in the September quarter accounted for two-thirds of the total number of deals year to date despite an uncertain global environment, advisory firm EY said in a report. Domestic M&A activity continued to dominate India’s deals landscape, recording 137 transactions with an aggregate disclosed value of $7.3 billion in the three months ended 30 September.


...and in financial markets last Friday

Rupee up: The rupee on Friday staged a recovery after two days of fall and ended eight paise higher at 66.79 against the US currency on account of heavy dollar unwinding by exporters ahead of an extended weekend.

Bonds up: India 10-year bonds increased 0.02% or 0.28% to 6.79% on Thursday October 27 from 6.77% in the previous trading session. The India 10Y changed +0.49% during the last week.