The recent rally could take a temporary pause after the Federal Reserve indicated it may end its intervention in the market earlier than anticipated. The Asian markets are mostly down after Minutes of the Fed meeting showed that many showed reservations about expanding the stimulative bond buying.
The Indian market could see profit booking after a decent run. The Nifty managed a close above the 6000 mark after nearly two years. Investors will also look at some caution ahead of the results which will start pouring in from next week. The US indices ended marginally lower. Japan's Nikkei is higher after a break.
The government and the Reserve Bank of India (RBI) need to act in harmony as the central bank on its own cannot fix economic woes, said.
RBI Governor, D Subbarao says the central banks cannot fix economies by themselves and has suggested that the Governments need to act too from the fiscal side.
China's service sector continued to expand in December, at a slower pace than November. The HSBC China Services Purchasing Managers' Index, a gauge of nationwide service sector activity, fell to 51.7 in December from 52.1 in November.
The Securities and Exchange Board of India has rejected the consent application of various companies belonging to the Mukesh Ambani-promoted Reliance Industries Group for alleged securities law violations relating to the shares of Reliance Petroleum and IPCL, a report stated.
The Ministry for Home Affairs ordered interception of about 10,000 phones and 1300 email ids, during October to December last year, says a report.