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Sensex to open flat

India Infoline News Service/ 08:23 , Nov 19, 2012

US indices closed higher encouraged that President Obama may manage to handle the fiscal cliff better than earlier anticipated.

The city of Mumbai will be back to business after a weekend which saw a sea of humanity pour out on the streets to bid farewell to Sena supremo Bal Thackeray.
 
The market is set to open on a positive note with weekend global cues paving the way. US indices closed higher encouraged that President Obama may manage to handle the fiscal cliff better than earlier anticipated. Asian markets are in the green too. Japan's prime minister Yoshihiko Noda dissolved the lower house of parliament and has called for elections (December 16th).
 
Later in the week attention will shift to the Winter Session of Parliament which begins on November 22. Amendments to General Anti-Avoidance Rules (GAAR) have been finalized, Finance Minister P Chidambaram said. The proposal to set up the National Investment Board (NIB) for expediting clearance to large projects will soon come up for approval before the Cabinet, reports state.
 
Meanwhile, the Inter-Ministerial Group (IMG) is likely to meet today to decide the fate of 14 more mines alloted to public sector firms.

 



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