MSL Leg 3 | Global Indices | Round 1

RULES

·       Every team has to predict the direction of movement and magnitude of change in each index on the basis of given news.

·       $100 dollars is the amount of stake put for each bet.

·       Odds of each bet are mentioned in front of the event.

·       Payoff on successful bet = $100*Odds of the bet

·       Loss on unsuccessful bet = $100

·       Round 1 is exclusive of Round 2. New bets with fresh budget will take place in Round 2.

INDICES

 

Global Indices and their opening quotes are as follows:

 

·       FTSE 100 - 6500, (United Kingdom)

·       BSE Sensex – 28,000 (India)

·       S&P 500 – 18,000 (USA)

·       JALSH – 50,000 (South Africa)

·       NIKKEI 225 – 16,000 (Japan)

·       RTSI – 1000 (Russia)

NEWS

·       Confident of US Recovery, the Federal Reserve has tightened the monetary policy as growth seen strongest in last decade.

·       Japanese Prime Minister Sino Abe’s ruling coalition gained more than two third majority, winning a mandate for his decision to postpone a sales tax increase to October next year after the economy had slid into a recession.

·       The lower OPEC demand forecast for 2015, plus a rise in OPEC output in December led by Iraq, means the report projects a larger global supply surplus in 2015, without output cuts by OPEC or other producers. At OPEC's meeting, top exporter Saudi Arabia urged fellow members to combat the growth in supply from competing sources including US shale, which needs relatively high prices to be economic and has been eroding OPEC's market share.

·       India clears order to ease Land acquisition rules in power housing and defence to kick start hundreds of billion dollars in stalled projects.

·       South Africa growth weaker than peer countries. Real GDP growth declined 1.9% in 2013 to 1.4% in 2014 due to strikes and reduced electricity.

·       Continuing uncertainty surrounding the upcoming Greek elections and potential fall out of Greece will possibly leave the Euro zone exposed.

·       The multiple economic sanctions imposed by the United States and Europe over Ukraine row, coupled with the rate hike from 10.5% to 17% in an attempt to spark capital inflows and save the rubble from sinking further will likely cause a sharp contraction in Russia’s already-frail economy which is expected to grow at negative rate in 2015.

 

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