No other principles in economics

Singapore Airlines and Tata Sons have submitted proposal with Foreign Investment Promotion Board to start new airline in India. The Tata Group-Singapore International Airlines joint venture will start full service airline in India. Tata Sons already has planned to launch low-cost airline in India in joint venture with Air Asia.

11.20 am IST: Indian market was trading lower at 11.20 am IST after opening flat on Tuesday. BSE Sensex was down by 36 points at 19706 and NSE Nifty was down by 18 points at 5822. Among major gainers in today’s session were Ranbaxy Labs, Sesa Goa, HCL Tech, Dr Reddys Labs, Grasim and Coal India.

13.30 pm IST: Indian market was nearly flat on Friday with both indices making transitions from positive to negative territory. The BSE Sensex was down by 20 points while NSE Nifty was up by 4 points at 1.30 pm IST. PMEAC has lowered the GDP growth forecast for India to 5.3% for 2013-14.

Due to higher inflation the domestic demand has decreased in India. This is a major concern as the country was expecting to rely more on domestic consumption to isolate itself from the economic cycles in overseas markets.

11.10 am IST: BSE Sensex has slipped further at 11.10 am IST. Sensex was down by 0.63% at 19873 while NSE Nifty was down by 38 points. As per estimates of market experts, July IIP could be down by 0.1-0.2 percent.

Indian markets have witnessed sharp rally and a breather was needed. Many investors would prefer to book partial profits and reduce their holding burden.

Analyst Calls

Another clot preventer from Daiichi Sankyo demonstrated as adequate as generally utilized warfarin as a part of treating a perilous condition reputed to be venous thromboembolism and brought about less draining, an extensive clinical trial discovered.