Most of the other Asian markets ended the day on a positive note too. The European indices are also trading strong currently. Rupee was trading at 48.75 against the US dollar at the time of writing.

Most of the other Asian markets ended the day on a firm note today. The European indices are currently trading in the green as well. Rupee was trading at 48.7 against the US dollar at the time of writing.

Most of the other Asian markets ended the day on a firm note today. The European indices are currently trading in the green as well. Rupee was trading at 48.9 against the US dollar at the time of writing.

ICICI Bank's (IBN) NPA stood at 4.33% in May a 1% increase over the previous year. The NPA of HDFC Bank (HDB) was at 1.91% of total assets. However both these banks are exposed to high retail loans due to aggressive growth in the past few years. Comparatively ICICI is a bit more risky than HDFC.

Most of the other Asian markets ended the day on a weak note today. The European indices are currently trading in the red as well. Rupee was trading at 49.2 against the US dollar at the time of writing.

There are also several events such as the monsoon, the policy on foreign direct investment, the risk of a rising fiscal deficit and a country downgrade, the disinvestment policy and the new tax code, which could take the market to closer to 9,700 if the event is viewed negatively.

Earthquake shattered L’Aquila, Italy hosted this latest meeting of the G-8, and offered a meaningful change from the usual pomp and circumstance these gatherings tend to display. Not for one minute could the leaders of the wealthiest nations on earth forget the state of their own countries’ affairs, nor that of the global economy. All they had to do was look out the window for a reminder.

Emerging markets surged in the second quarter of 2009 with the MSCI Emerging Markets Index returning 34.8% in US$ terms. Part of this return was due to weakness in the US dollar. A return of confidence in emerging markets, the desire for higher returns and the search for undervalued companies support the markets’ uptrend.

For the most part, Infosys gets much of its revenues outside of India – such as in the US and Europe. But, of course, the global recession is making it difficult to get traction. At the same time, there is intense competition from players like HP (HPQ), IBM and Accenture (ACN).

Outsourcing has come through a lot of changes since its inception. Its evolution depends on a number of factors, like how the market reacts, government intervention, partnerships, and geographical positioning to name a few. The industry adapts to changes in the business environment which is crucial to its survival.

Going forward, over the coming political cycle, GDP growth in India can be expected to grow at at least 6%. Because GDP growth reflects slower growth rates in the agrarian sector of the economy, this should translate to 9% growth in corporate earnings. With reversion to a 6% long term inflation rate, nominal earnings growth can be expected to hit 15%.

Most of the other Asian markets also ended the day on a weak note today. Stocks in Europe are also trading in the red currently. Rupee was trading at 48.49 against the US dollar at the time of writing.

A few days ago, Dr. Oatley wrote about the attempt by the U.S. House of Representatives to cap greenhouse emissions and coerce other countries into doing the same:

This time it is the Waxman-Markey cap and trade legislation. The intent of the legislation--reduce greenhouse gases--addresses concerns of the Democrats' median voter, who cares deeply about climate change. Producers, however, are concerned that the higher energy costs generated by cap and trade will disadvantage them relative to Chinese firms who are not facing higher energy costs because China does not regulate greenhouse gases. The solution, added late to the legislation, is to impose tariffs on goods from countries that do not regulate GHG (i.e., China). Nobody really wants to impose tariffs, but the hope is that the threat of tariffs will be sufficient to induce China to agree to international regulations on CO2 emissions.

As the recession continues to slow consumer demand, governments across the world are stepping up their export of goods and services. This is true in India as well as the chart shows below. The government consumption expenditures as a percentage of GDP is rising faster as the private final consumption expenditure is going down.

Most of the Asian markets ended the day on a weak note. The European markets are also trading weak currently. The Rupee was trading at 47.91 against the US Dollar at the time of writing.

Most of the other Asian markets ended the day on a firm note today. The European indices are currently trading in the green as well. Rupee was trading at 48.00 against the US dollar at the time of writing.

Other Asian markets ended the day on a mixed note today. The European indices are currently trading in the red. Rupee was trading at 47.99 against the US dollar at the time of writing.