10:30 am Winter session: The winter session of Parliament
is scheduled to begin today. The government will be keen on getting
parliamentary approval for the recent ordinances that were promulgated,
especially the coal mines special provisions ordinance.
The new law will set in motion the process of auctioning coal blocks in line
with the Supreme Court order. The Insurance Amendment Bill and the GST Act are
also a part of government economic reforms agenda.
The Insurance Bill was referred to the select committee in the last session.
The Trinamool Congress is likely to oppose it this time too. The party also
intends to take on the Centre on the issue of black money.
The market is holding strong with
support from banks, metals and IT stocks. The Nifty is still holding up the
8500-mark. The 50-share index is up 28.70 points at 8506.05. The Sensex is up
109.36 points at 28443.99. About 1216 shares have advanced, 816 shares
declined, and 75 shares are unchanged.
Hindalco, Sesa Strelite and Tata
Steel are up around 3 percent each. ICICI Bank and Infosys are other gainers
in the Sensex. Among the losers are HUL, Cipla, M&M, Reliance and Bharti.
Oil prices were mixed in ahead of
a crucial meeting of the OPEC cartel later in the week that will discuss
whether to trim output. The Organisation of the Petroleum Exporting Countries
will hold one of its toughest and most significant meetings in recent years
on Thursday, with members under pressure to address falling prices, which
have sunk 30 percent since June. Investors were also waiting for
third-quarter gross domestic product data from the United States and European
powerhouse Germany scheduled Tuesday to gauge oil demand. More information
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