Markets and the rupee slipping further, high profile changes in corporate corridors, the government restarting the reforms process….the week gone by was choc-a-bloc with action. Here's some of the buzz from the studio.

Aditi : The bears seem to be on steroids these days. Their continuing rampage has caused the market to close in the red for the fourth consecutive week. The Sensex is down more than 2,000 points over the past month. Wonder when the tide will turn.

Vikram : That may be a long wait. Investor confidence seems to be really low with scarce good news on the economic front. Though latest domestic inflation numbers show moderation, it still remains close to the double-digit mark. Meanwhile, the Damocles' sword hangs over the global economy, with the European debt crisis showing little signs of easing.

Aditi : One big casualty of the global economic uneasiness has been our good, old rupee. The continuing flight to ‘dollar safety' has contributed a good deal to the INR's free fall over the past couple of months. This week, it touched its nadir of 52.38 a dollar. A weak rupee could add to the inflation headache by making our imports costlier than before.

Vikram : Hmmm…the RBI has not intervened aggressively so far to stem the rupee's fall. It seems to be concerned about saving the country's limited foreign exchange firepower to fight bigger battles in the months ahead.

Aditi : Speaking of battles, our politicians are waging noisy, pitched ones on myriad issues in the ongoing winter session of the Parliament. This has resulted in the all-too-familiar scene of daily disruptions and adjournments. Such a waste of taxpayer's money!

Vikram : You bet! But the government seems determined to break the ‘policy paralysis' which it has been accused of, over the past several months. The Cabinet this week approved foreign direct investment of up to 51 per cent in multi-brand retail and also increased the limit in single-brand retail to 100 per cent. This could completely change the dynamics of the sector.

Aditi : It remains to be seen whether these changes will pass through the Parliament unscathed. The Opposition is up in arms, and BJP leader Uma Bharti has even threatened to set fire to Walmart stores if they set up shop in India!

Vikram : Now, that's a bit too much. So was the slapping of Agriculture Minister Sharad Pawar this week by a disgruntled chap protesting against inflation. There are better ways of staging protests and seeking relief.

Aditi : Relieved this week would be the five corporate executives who have been granted bail by the Supreme Court in the 2G case. This would also have raised hopes of the other accused including DMK leader Kanimozhi whose bail application is being heard. The trial though would be a long process.

Vikram : One lengthy process which came to closure this week was the selection of the next head honcho of Tata Sons. Cyrus Mistry, whose family has the largest shareholding in the company, has been appointed next in line to Ratan Tata.

Aditi : While some ascended, others descended. Vikram Akula, Founder and Chairman of SKS Microfinance resigned from his post in the beleaguered company. The cycle of change rolls on relentless.

Vikram : Hope next week brings some positive change to the markets too!

Related Topics