Nothing has really changed for better or worse in recent days but the markets world over seem to shedding weight as US looks to avoid the so called fiscal cliff.
Asian stocks fell with the blame being put on likely delay in Greece’s bailout and growth forecasts being cut; the latest being Australia’s central bank. US stocks remain in the red with the main indices losing a percentage each though data on first-time unemployment claims and trade deficit for September indicate a likely acceleration in economic activity.
China’s central bank governor said October data will show growth improving this quarter. China’s consumer inflation unexpectedly decelerated to a 33-month low. Europe's leading central banks kept interest rates unchanged. Bank of Korea held borrowing costs. Mario Draghi says overall economic activity in the eurozone would remain weak in the near term.
Result Today: BPCL Rev Rs603.7bn (+42.7% yoy) PAT Rs30.3bn