FOREX UPDATE

INR gains 20 paise against the USD

2010-02-17T13:08:00.002+05:00

The Indian rupee gained 20 paise against the US Dollar to 46.30 in early trade today.

The gain is mostly due to the sale of Dollars by Banks and exporters who were hoping for capital inflow in the market with the recovery in equity markets.

The rupee had closed at 46.50/51 against the dollar last weekend. It opened higher at 46.42/43 against the dollar, today and then rose to 46.30 before reaching at 46.34/35 at 1030hrs. In the early morning trade the rupee revolved between 46.30 and 46.45 against the dollar.

Vascon Debuts with 3% premium; Syncom with 17%

2010-02-17T13:07:00.002+05:00

Two firms, Vascon Engineering and Syncom Healthcare made their debut today on the Bombay stock exchange with a premium of 3 per cent and 17.3 per cent, respectively.

Vascon Engineering had fixed an issue price of Rs 165 per share for the issue. Its shares opened at Rs 170 on their first day and rose 5.1 per cent over the issue price to a high of Rs 173.45 on the exchange in Mumbai. Vascon has listed 9 crore shares on the exchange.

Research and Analysis of Visaka Industries Limited : Fairwealth Securities

2010-02-17T13:06:00.002+05:00

Visaka IndustriesLimited (VIL), established in 1981, is the second largest cement sheet manufacturer in India with the total installed capacity of 6,30,000 tonnes. VIL is well diversified company engaged in the manufacture of fibre cement products and synthetic blended yarn. Company has pan india presence with 6 manufacturing plant for asbestos making plants and two manufactring plant for garments.

FUTURE OUTLOOK:- At the current price of Rs 122, the stock is available at 5.54x of its FY09 earnings, 4.10x of its FY10E earnings and 2.79x of its FY11E earnings.

Nifty Daily Watch Outlook: FairWealth

2010-02-17T13:05:00.002+05:00

Indian market failed to discount strong global cues; Indices faced selling pressure at higher levels and closed on a weak note after trading in a volatile session. SENSEX closed at 15922, down 120 points and Nifty at
4757, down 35 points from the previous close. CNX MIDCAP index was down 0.14% and BSE SMALLCAP index was up 0.10%. Top gainers included HINDALCO, HDFCBANK, STER, HEROHONDA, and GRASIM. Top losers are listed as M&M, SBIN, LT, TATASTEEL and SUNPHARMA.

Plus Markets announces leadership shuffle

2010-02-17T13:04:00.002+05:00

Simon Brickles and Stephen Hazell-Smith have finally decided to step down after actively running Plus Markets, the former Ofex for five years. The move would pave a way for the new generation to participate in the growth stories of the market amid very challenging times of slowdown.

Government to give 6 months for FCCB to align with market prices

2010-02-17T13:03:00.002+05:00

The government has decided to allow companies that issued foreign currency convertible bonds (FCCBs) before November 27, 2008 to align conversion price as closer to the market price as possible.

The companies will now be able to revise their FCCB conversion price to the level of average weekly high and low share prices of the period of two weeks before the date of issue of securities. The relevant date of issue is determined by the board.

Rise in Euro but worries still loom about Greek debt

2010-02-17T13:02:00.002+05:00

The Euro finally found a bit of respite after the short-term players' buyback but the gains were not significant enough as it still remained close to the nine-month low against the dollar. The meeting of euro zone finance ministers failed to bring in any kind of confidence about the matter of Greece's debt problems. There seems to be no ray of hope in the near future for these problems.

J B Chemicals & Pharmaceuticals Ltd (JBCPL) Long Term Buy Call

2010-02-17T13:00:00.001+05:00

Nifty Daily Watch Outlook: FairWealth Securities

2010-02-17T12:59:00.003+05:00

Having positive global cues from European market, Indian market attracted buying interest and closed at strong note. SENSEX closed at
16226, up 188 points and NIFTY at 4855, up 53 points from the previous close. CNX MIDCAP index was up 0.52% and BSE SMALLCAP index was up 0.54%. PHARMACEUTICALS, CAPITAL GOODS and METALS attract buying while BANKING and TELECOM stood weak. Top gainers included ACC, TATAMOTORS, HUL, M&M, AMBUJACEM, HINDALCO and RANBAXY. Top losers are listed as BHARTIARTL, HEROHONDA, AXISBANK and JINDALSTEL.

NEXT SESSION……..

Alembic Ltd Buy Call: Abhishek Jain, StocksIdea.com

2010-02-03T21:01:00.002+05:00

Alembic

Alembic started its operations on 30 July, 1907 & now it is Asia's most respected integrated pharmaceutical company with manufacturing facilities in Vadodara and Panelav in Gujarat and Baddi in Himachal Pradesh. The plant in Vadodara has the largest fermentation capacity in India.

The Panelav facility houses both API (USFDA approved) and formulation manufacturing plants. It has a distribution network that spans 29 states in India and 75 countries globally. Company has "Bio Arc Research Center" at vadodara to capitalize its strength in research and developments.

SEBI changes rules for debt, money market instruments

2010-02-03T20:59:00.000+05:00

The Securities and Exchange Board of India (SEBI) has changed rules relating to the valuation of debt and money market instruments. The move is to make sure that the current market scenario is reflected in the portfolios of fund houses.

SEBI issued a circular on Tuesday which said that all securities in debt and money markets including those which offer a floating rate, with residual maturity of up to 91 days or over 91 days, would have to be valued at the weighted average price at which they are traded on the particular valuation day.

Fundamental Weekly Outlook for European Union & United States

2010-01-08T20:27:00.003+05:00

European Union:-
Tuesday: Germany GfK Consumer Confidence Survey (Previous 3.7, Forecast 3.5), France Producer Prices MoM (Previous 0.8%, Forecast 0.1%) & YoY (Previous -6.6%, Forecast -4.7%).
Wednesday: Germany Import Price Index MoM (Previous 0.5%, Forecast 0.3%) & YoY (Previous -8.1%, Forecast -5.2%), France Consumer Spending MoM (Previous 1.1%, Forecast 0.5%) & YoY (Previous 3.5%, Forecast 3.3%)

United States:

Fundamental Weekly Outlook for United Kingdom & Japan

2010-01-08T20:26:00.002+05:00

Japan:
Monday: Trade Balance (Previous 807.1B, Forecast 300.0B), All Industry Activity Index MoM (Previous -0.6%, Forecast 1.0%),
Tuesday: Small Business Confidence (Previous 43, Forecast N/A).
Thursday: BOJ Minutes (Text report).

Fundamental Weekly Outlook for Australia & Canada

2010-01-08T20:24:00.001+05:00

Australia:
Tuesday: Conference Board Leading Index (Previous 0.3%, Forecast N/A).

Canada:
Monday: Retail Sales MoM (Previous 1.0%, Forecast 0.7%), Retail Sales Less Autos MoM (Previous 1.1%, Forecast 0.2%).
Wednesday: GDP MoM (Previous 0.4%, Forecast 0.3%).

Forex trading by Munther Marji for Forexpros.

Record trading at Toronto stock exchange despite downturn

2010-01-08T20:22:00.001+05:00

Toronto, Jan 7 - Companies raised a record $60 billion on the Toronto Stock Exchange (TSX) last year despite the global downturn.

The third biggest stock exchange in North America, the Toronto Stock Exchange is also the world's biggest energy market where more than 400 global oil and gas companies are traded.

The stock exchange raised $60.0 billion, surpassing the previous record of $47.6 billion set in 2007. The TSX executed trading volume of 118.5 billion, again exceeding the record of 109.2 billion set in 2008.

Wall Street stocks end mostly higher

2010-01-08T20:13:00.002+05:00

New York, Jan 8 - Major Wall Street stock indices have ended mostly higher amid gathering economic optimism.

A government report on Thursday showed that the pace of job losses continues to moderate.

Analysts from Morgan Stanley said that commercial real estate, widely feared as the other shoe to drop after the meltdown in the US residential property market, would not become a major impediment to economic growth.

Shares in the retail sector rose as major US chain stores raised forecasts or delivered earnings reports that beat expectations.

Season of cheer, Sensex soars

2009-12-24T20:18:00.002+05:00

Finance minister Pranab Mukherjee on Wednesday said the Indian economy could grow by 8 per cent in 2009-10, aiding an optimistic mood in the equity markets where the benchmark BSE Sensex recorded a handsome 539-point gain in the biggest single-day jump in seven months.

Sensex soars on opening

2009-12-24T20:17:00.003+05:00

Mumbai, Dec 23 - A key Indian equities index rose sharply at opening bell Wednesday and moved up 100 points within minutes of trade.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 16,723.96 points and was ruling at 16,792.24 points, up 100.24 points or 0.6 percent from its previous close at 16,692 points, within five minutes of trade.

Around the same time, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 5.012.35 points, against the previous close at 4,985.85 points, a gain of 0.53 percent

Stock exchanges to open at 9 am from 4th January

2009-12-24T20:15:00.002+05:00

Under the instructions of the securities and exchange board of India (SEBI), the two stock exchanges, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have decided to change the opening of the stock markets. The two stock exchanges will open at 9 am, instead of 9:45 am from 4th January, which will be the first trading day of the year 2010.

According to one of the market analyst, the two exchanges are still trying to work out a common decision. Their postponement of the date of early opening to two weeks can’t cool down the protests from the brokers.

DB Corporation’s IPO to hit primary market on Friday

2009-12-15T15:52:00.002+05:00

DB Corporation, the publisher of Dainik Bhaskar newspaper, has decided to launch an IPO on Friday. A total of 18,175,000 shares will be offered, with a face value of Rs. 10 per share.

The company has fixed the price band of the IPO at Rs. 185 to 212 per share. At the higher end of the IPO, the company has expected to get around Rs 385 crore. The IPO has been scheduled to close on 15th December

Sensex Closes Weak On Dubai World Debt Fears

2009-11-29T10:43:00.002+05:00

Indian stock markets remained weak owing to Dubai debt crisis worries on Friday.

Huge selling pressure was witnessed across funds as well as sectors including real estate, banking and metals.

Sensex lost more than 500 points during the opening trade in reaction to Dubai's debt postponement that hurt investor response throughout the world and recorded a steep fall later hitting a low of 16,210.44.

But, the stock index shed the majority of its losses and made recovery from day's low to lastly end the day on a feeble note.

Markets Plummet On Dubai's Debt Concerns; Realty Stocks Hit Badly

2009-11-29T10:42:00.002+05:00

Equity markets were trading weak, mirroring a similar fall in global markets, after Dubai World asked creditors if it can delay its debt obligations until May.

Heavy selling pressure was witnessed across realty, banking, metal and consumer durable stocks.

BSE Midcap and Smallcap index plunged 2.46 percent and 2.64 percent respectively.

Dubai had collected $80 billion of arrears by escalating in banking, realty and transportation. S&P had assigned the ratings of four Dubai-based banking institutions on negative viewpoint owing to their exposure to Dubai World.

Buy SAIL With Stoploss Of Rs 194

2009-11-29T10:40:00.002+05:00

Stock market analysts are of the view that investors can buy Steel Authority of India Limited (SAIL) stock to achieve an intraday target between Rs 199-202.

According to them, investors can buy the stock above Rs 197 with a strict stop loss of Rs 194.

Shares of the company, on Tuesday (Nov 24), closed at Rs 194.05 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 195 and a low of Rs 58.80 on BSE.

Current EPS & P/E ratio of the stock stood at 12.84 & 15.40.

0.6% Rise Recorded by FTSE on Friday, Commodities and Banking Stocks Lead

2009-11-23T15:33:00.001+05:00

Recording a 0.6% rise, UK's top share index, FTSE moved into a positive territory, on the back of unexpected hikes in stocks, commodities and banking in particular. By 9 am, the index had surged by 30.65 points, to stand at 5298.35, a substantial rise from the closing figures recorded on Thursday, which were 5267.70.

Buy Pratibha Ind With Stoploss Of Rs 256

2009-11-23T15:31:00.001+05:00

Stock market analysts have maintained 'buy' rating on Pratibha Industries Ltd with an intraday target of Rs 270.

According to them, interested traders can purchase the stock above Rs 265 with a strict stop loss of Rs 256.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 280.

Shares of the company, on Friday (Nov 20), closed at Rs 262.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 263.40 and a low of Rs 47.40 on BSE.

Singapore shares rise 2.08 per cent

2009-11-17T15:31:00.002+05:00

Singapore - Singapore shares rose 2.08 per cent on Monday as stock markets around Asia posted gains.

The key Straits Times Index climbed 56.62 points to 2,783.85, with winners beating losers by 453 to 113. (dpa)

Stocks mixed in morning session in Tokyo

2009-11-17T15:28:00.001+05:00

Tokyo - Stocks on the Tokyo exchange were mixed Monday in early trading.

The benchmark Nikkei 225 Stock Average edged up 12.38 points, or 0.13 per cent, to 9,782.69.

The broader Topix index fell 4.05 points, or 0.47 per cent, to 862.75. (dpa)

Dinning&Shoping

2009-11-10T15:34:00.001+05:00

PORTGRAND MAP

2009-11-10T15:29:00.000+05:00

Money Counter

2009-11-05T15:26:00.000+05:00

Slight movement was seen on the currency market on Wednesday as the rupee hardly moved versus dollar on the currency market, dealers said. On the interbank market the rupee inched up with a gain of one paisa in relation to dollar for buying and selling at 83.70 and 83.74, dealers said.

US stocks gain on Ford profits, positive economic news

2009-11-03T15:12:00.000+05:00

New York - US stocks started the week stronger Monday amid a surge of positive economic news and surprising profits for carmaker Ford.

Ford Motor Co reported a net income of 997 million dollars in the third quarter, its first operating profit since the first three months of 2008.

Economic data on manufacturing, construction and housing all helped push stocks higher. US factory output grew at its fastest pace in three years, according to an index of the Institute for Supply Management.

Corporate earnings, stronger yen push Tokyo stocks down

2009-11-03T15:10:00.000+05:00

Tokyo - Stocks in Tokyo on Monday fell on disappointing earnings reports, a stronger yen and pessimistic evaluations of the global economy.

The Nikkei 225 Stock Average plummeted 231.79 points, or 2.3 per cent, to close at 9,802.95.

The broader-based Topix index was also down 14.13 points, or 1.58 per cent, at 880.54, ahead of the stock market's closure Wednesday for the Culture Day holiday.

On currency markets at noon (0300 GMT), the dollar traded at 89.96-97 yen, down from Friday's 5 pm quote of 91.09-12 yen.

Weaker yen sends Tokyo stocks up

2009-10-26T22:45:00.000+06:00

Tokyo - Tokyo stocks rose in morning trading Monday as the yen weakened and investors went bargain hunting.

The Nikkei 225 Stock Average climbed 99.9 points, or 0.97 per cent, to 10,382.89.

The broader-based Topix index also rose 11.26 points, or 1.25 per cent, to 913.29.

On currency markets at 9 am (0000 GMT), the dollar traded at 92.11-13 yen, up from Friday's 5 pm quote of 91.80-83 yen.

The euro traded at 1.4993-97 dollars, down from 1.5024-27 dollars in late trading Friday, and at 138.12-14 yen, up from 137.95-99 yen.

Sensex, Nifty Slip Into The Red; M&M, RCom Decline

2009-10-24T15:08:00.000+06:00

The Sensex trimmed some of its gains due to profit booking and the negative opening of the European markets.

Realty, IT and metal stocks showed some resistance, while oil & gas, capital goods and power stocks were seeing selling pressure.

BSE Midcap and Smallcap index rose 0.01 per cent and 0.05 per cent respectively.

At 1:51 pm, Bombay Stock Exchange's Sensex lost 63.26 points at 17262.75 after touching a low of 17205.38 and high of 17457.26.

On the other hand, National Stock Exchange's Nifty stood at 5121.55, down 20.25 points. The index touched a low of 5105.05 and high of 5181.95.

Intraday Buy Call For Jindal Saw

2009-10-24T15:07:00.000+06:00

Stock market analysts have maintained 'buy' rating on Jindal Saw with an intraday target of Rs 810.

According to them, interested traders can purchase the stock above Rs 800 with a strict stop loss of Rs 792. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 821.

Shares of the company, on Saturday (Oct 17), closed at Rs 797.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 88.70 and 9.04 respectively. The share price has seen a 52-week high of Rs 803.70 and a low of Rs 135 on BSE.

Sensex Ends Flat On Profit Booking

2009-10-24T15:05:00.000+06:00

The Sensex ended the week on a flat note after losing almost all intraday gains on Friday.

FMCG, healthcare and IT stocks remained the major gainers of the day, while oil & gas and capital goods witnessed heavy profit booking.

Tata Consultancy Service Ltd Long Term Buy Call: Abhishek Jain, StocksIdea.com

2009-10-17T23:29:00.000+06:00

TCS is a part of one of Asia's largest conglomerates "TATA Group", which is having presence in Energy, Automobiles, Telecommunications, Financial Services, Chemicals, Engineering and Materials etc. Company has presence in 34 countries across 5 continents and seven of the Fortune Top 10 companies are in its valued customers list. Company has launched its most integrated business accounting software "Personal Accountant" in Guwahati in 2000. Company has emerged as Asia's largest software and Services Company launched its computer security consultancy practice.

Banks drive sensex to 17-month closing high

2009-10-17T23:23:00.000+06:00

Mumbai, Oct. 16 : Banking stocks drove the Bombay Stock Exchange (BSE) sensex up by 0.74 percent to its highest close in 17 months despite witnessing a slide in metals maker Sterlite Industries after it sold debt checked the gains on Friday.

Sentiment was also upbeat as optimism about quarterly earnings of companies lifted world stocks towards highs last seen before the collapse of Lehman Brothers.

Hindustan Unilever Ltd Long Term Buy Call: Abhishek Jain, StocksIdea.com

2009-10-12T23:12:00.000+06:00

Hindustan Unilever Ltd. country's leading fast moving consumer goods company and amongst those enjoying the largest branded market coverage, is a 51% subsidiary of Unilever Plc, UK. In 2000 Company launched the International Lux Skincare range, "Sunscreen Formula". In this year only HUL acquires Modern Foods, the first public sector company to be divested by the Government of India. For "Clinic All Clear" on the Net, Hindustan Unilever has launched a host of Web Promotions on popular Websites that include Rediff. com, Sify. com, Indya. com, Uthplanet. com, Hungama. com and C2W. com.

Sensex opens higher, up 85 points in early trade

2009-10-12T23:11:00.000+06:00

Mumbai, Oct 12 - A key Indian equities market index opened in the green Monday and within five minutes had moved up 85 points higher than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher at 16,687.32 points and, five minutes into trade, was at 16,728.4 points, 85.74 points or 0.52 percent higher than its previous close at 16,642.66 points.

The S&P CNX Nifty of the National Stock Exchange (NSE) was also in the positive terrain at 4,963.35 points, up 0.37 percent from its las

Sensex Closes Week On A Flat Note

2009-10-02T21:33:00.000+06:00

The 30-share index BSE Sensex closed the volatile session on a flat note on Thursday.

Buying was seen across Teck, IT and banking shares, whereas healthcare, auto and consumer durables remained under heavy pressure.

The index belled the day positively after gaining 59.36 points at 17,186.20 following subdued worldwide signals. Later, it lost its sheen amid volatility on account of passive indications from global markets prior to long week end. At last it marked its closure on a flat note, sustaining 17,000 mark.

The BSE Midcap index declined 0.35% while Smallcap index dropped 0.04%.

Bulls on rampage again

2009-10-02T21:32:00.001+06:00

Mushrooming inflows from foreign institutional investors (FIIs) and a strong results expectation for the second quarter helped the Sensex to continue on the upswing as it breached the 17,000 mark after 16 months on Wednesday.

The Sensex rose 1.6 per cent or 274 points to close at 17,127, while the more broadbased NSE Nifty rose 1.5 per cent or 77 points to close at 5,084.

Riding the momentum, the initial public offering (IPO) of Oil India Ltd saw a strong listing after a dismal performance of other high-profile IPOs such as NHPC and Adani Power.

Wall Street retreats on manufacturing, labour reports

2009-10-02T21:30:00.001+06:00

New York - US stocks tumbled Thursday after a higher-than- expected weekly unemployment report and a drop in a key gauge of manufacturing.

The benchmark indexes opened lower following a report that the number of Americans filing first-time claims for unemployment benefits increased by 17,000 to 551,000 last week.

The retreat continued after the Institute for Supply Management said its manufacturing index - a private barometer of business activity - dropped to 52.6 in September from 52.9 in August.

Tokyo stocks fall 2.4 per cent in morning trading

2009-10-02T21:29:00.000+06:00

Tokyo - Japanese stocks slumped in Friday morning trading as the yen further strengthened against the dollar.

The Nikkei 225 Stock Average lost 245.22 points, or 2.46 per cent, to stand at 9,733.42.

The broader-based Topix index also fell 22.66 points, or 2.53 per cent, to 873.46.

A stronger yen negatively affects the competitiveness of Japanese exporters overseas.

On currency markets at 9 am (0000 GMT), the dollar traded at 89.52-55 yen, down from 89.97-99 yen in late trading Thursday.

Truncated week sees Sensex cross 17,000 points

2009-10-02T21:27:00.000+06:00

New Delhi, Oct 2 In a truncated trading week, the benchmark index of Indian equities markets crossed the 17,000-mark for the first time in 16 months.

In a truncated trading week, due to two public holidays Monday and Friday, the 30-share sensitive index (Sensex) ended 441.55 points, or 2.65 percent higher, at 17,134.55 points at weekly close Thursday, as opposed to the previous week's close at 16,693 points.

The Sensex rose consecutively Tuesday and Wednesday, and managed to hold on to the gains Thursday.

US stocks fall despite housing gains

2009-09-30T15:48:00.000+06:00

New York - US stocks fell on Tuesday amid a drop in consumer confidence and concerns about unemployment, even as data showed housing prices soared in July by the most in four years.

Consumer confidence dropped fell to 53.1 points from a revised 54.5 in August, amid rising unemployment, the New York-based Conference Board said Tuesday.

Investors were also concerned about September unemployment figures that are due out Friday. The US unemployment rate jumped to 9.7 per cent in August, soaring to a 26-year-high, as employers slashed an additional 216,000 jobs.

Nifty To Maintain Above 5,020 For A Target Of 5,080-5,150: Nirmal Bang

2009-09-30T15:47:00.001+06:00

The Nifty managed to close above the 5K mark as huge buying continued to see in pharma, IT and oil & gas stocks which kept the market momentum going. The Sensex closed up 160 points at 16,853 after trading in the narrow range of 16,907 - 16,802. The Nifty shut at 5,007 up 48 points or 0.97%. Among the broader indices, midcap and smallcap were also up 1% each. The breadth remained strong for the entire session but the market total turnover were lower at 65,365 cr. The Oct Nifty future ended with 10 points discount.

World Market Review and Indian Stock Market Analysis By Nirmal Bang

2009-09-30T15:45:00.000+06:00

U. S. stocks declined as technology shares retreated from a one? year high and energy producers dropped as a stronger dollar dragged down oil, overshadowing the biggest gain in home prices in four years. Technology shares in the S&P 500 fell 0.7 percent after closing yesterday at the highest level since September 2008. The group is still the best? performing industry in 2009, having surged 45 percent. The S&P 500 Energy Index slumped 0.6 percent as the U. S. currency gained. Exxon, the biggest U. S. oil producer, lost 0.8 percent to $69.07.

Sensex crosses 17,000 mark for the first time after financial crisis

2009-09-30T15:44:00.001+06:00

Mumbai, Sep 30 : The benchmark index of the Bombay Stock Exchange (BSE) climbed above 17,000 points on Wednesday for the first time since May 2008.

The BSE index rose to more than one percent in its early trade as investors betted on strong quarterly earnings.

The market continued with its upward march taking cues from peers in Asia and on hopes of revival in global and domestic economy.

The BSE Sensex was at intra-day high of 17026.31, up 173.40 points or 1.02 per cent. The index touched an intraday low of 16868.46.

Sensex Hits 17K Mark; Nifty Up 62.20 pts

2009-09-30T15:43:00.001+06:00

The Sensex continued to trade strongly and maintained 17,000 mark on account of constant buying witnessed in banking, metal and IT stocks.

Mirroring strong buying at side counters, BSE Midcap and Smallcap index surged 0.50% and 0.97% respectively.

The 30-share index, BSE Sensex opened with a gain of 15.55 points, at 16,868.46 on Wednesday.

At 12:59 p. m., the 30-share index Sensex, which belled the day after gaining 15.55 points at 16,868.46, stood at 17,034.40, up 181.49 points. It also hit a high of 17,053.98 and a low of 16,868.46.

Camlin Limited Long Term Buy Call: Abhishek Jain, StocksIdea.com

2009-09-26T23:07:00.000+06:00

Company was incorporated on 24th December 1946, as a private limited company with the main object of taking over the running business of M/s. Dandekar & Co., which was founded by late G. P. Dandekar and D. P. Dandekar in 1931 at Girgaum, Mumbai. The Company manufactures stationary products, art materials. The Company was converted into a public limited company on 24th March 1988 and the name was changed to Camlin Ltd.

Thinksoft revises price band, offer to close on October1

2009-09-26T23:06:00.000+06:00

The Karnataka-based Thinksoft Global Services Limited has extended the closing date of IPO till October 1, 2009, revising offer band price to between Rs 115 and Rs 125, against its earlier band of Rs 120-130. The company did not divulge any specific reason for the development, but reports claims that the move is led by poor response to the IPO, which was, as per reports, subscribed just 62 per cent.

The official spokesperson for the company said that its board weighed various options before revising the date and price band for the Initial Public Offer.

Welspun Gujarat raises $150 million

2009-09-26T23:04:00.000+06:00

Welspun-Gujarat Stahl Rohren, the flagship of Welspun Group, has raised $150 million (nearly Rs 720.2 crore) by way of foreign currency convertible bonds (FCCBs) issue.
The company will utilize the money to invest for capital expenditure, investments in growth opportunities and other usage in accordance with applicable statutory and/or regulatory requirements.

The company has priced FCCBs at $130 million with an option to raise an additional amount to the tune of $20 million if the issue is fully subscribed.

Indian Stock Market & World Stock Market Review By Nirmal Bang

2009-09-11T13:24:00.000+06:00

The markets maintained their upward movement for the third consecutive day on the back of strong buying witnessed in the Index heavyweight like Reliance Ind & State Bank of India which has been consolidating for quite some time.

Global Asian cues were also positive today. Hang Seng was up 2.14% and Shanghai rose 1.71% and Taiwan Weighted gained 1.2%. The Sensex closed up 107 points to
16,123 and the Nifty rose 22 points to 4,805 after hitting an intraday high of 4842.

US stocks climb on oil, gold hikes

2009-09-11T13:23:00.000+06:00

New York - Major Wall Street indices gained Tuesday as price increases for oil and metals including gold fuelled a rally in commodity and energy shares.

The dollar hit a 2009 low against the euro, helping the commodity price hikes. The US currency dropped to 69.03 euro cents and 92.31 Japanese yen.

The price of crude oil climbed 4.5 per cent to 71.1 dollars per barrel, and gold futures climbed above 1,000 dollars per ounce. Copper jumped more than 3 per cent.

Shares of Alcoa, Chevron and Exxon Mobil climbed more than 2 per cent.

Indian Stock Market & World Stock Market Review By Nirmal Bang

2009-09-11T13:22:00.000+06:00

The Sensex closed higher for the fourth consecutive day on the back of sharp upside in Reliance Industries, which gained 4.5%. Metal stocks continued their run up today as well and banking stocks were the other gainers.

However, selling in telecom, realty, power, FMCG, auto, oil marketing, capital goods and select technology stocks limited the gains. Asian markets ended mixed. Shanghai and Jakarta gained 0.5% while Hang Seng, Nikkei, Straits Times, Kospi and Taiwan fell 0.4-1%.

In the metal space, Hindalco gained 4.14%. NALCO, Sterlite Industries and Tata Steel were up 0.8-

USD / JPY Technical Forex Analysis for Forex Traders

2009-09-11T13:20:00.000+06:00

Finally, we have tested the most important support level in the current price area: 91.73-91.76, which is the small support area that holds within the lows of July 8th, 10th, and 13th. Price hardly held above it after reaching 91.60. And we think that breaking it would have enough influence to "finally" accelerate the downtrend, and would be followed by a move down to 90.90 or even 89.69. As for attempts to go higher, they would not mean anything without a break of Fibonacci 61.8% resistance at 92.20, which stopped the rise twice, during the American & Asian sessions. If this resistance is broken, we think the USDJPY will target areas above 93 such as 93.42, and if this one is also broken, the next stop would probably be 94.16.

Support:

Sensex Sheds Some Gains On Profit Booking

2009-09-10T20:08:00.000+06:00

The 30-share index Sensex, which gained more than 248 points during the opening trade today, has shed some of its gains owing to some profit booking witnessed across front line stocks.

Banking, healthcare and metal stocks were in the lead, while real estate and auto slipped in the negative terrain.

BSE Midcap and Smallcap index increased 0.34% and 0.21% respectively.

For the week ended on August 29, 2009, Inflation stood at -0.12% as against -0.21% during the last week ended on August 22, 2009.

Nifty Crosses 4,800 Pts; Highest Level In Nearly 15 Months

2009-09-10T20:07:00.000+06:00

During the early trading session today, the broad-based Nifty crossed 4,800-points level for the first time in 15 months.

The 30-share index BSE Sensex also remained up and gained more than 122 points.

The markets gained on the back of increased inflow of foreign funds driven by strengthening trends in other Asian markets.

Previously, the Nifty posted 4,821.30 points on June 2 2008. It hit a 52-week high of 4743.75 on Monday (Sep 07, 2009).

The Sensex had gained around 617 points during the last two trading sessions.

Shares rise 2.3 per cent in Seoul

2009-09-10T20:06:00.001+06:00

Seoul - Shares surged 2.3 per cent Thursday on the Seoul stock exchange on strong buying by foreign investors while South Korea's currency gained against the dollar.

The benchmark Kospi index soared 36.91 points to close at 1,644.68.

Advancing issues outpaced decliners 604 to 217.

The main index of the technology-heavy Kosdaq market inched forward 4.81 points to 525.01.

On currency markets, the US dollar was quoted at 1,224.50 Korean won, after 1,227 won Wednesday. (dpa)

Stock Mkt Is Expected To Remain Strong, Says Sharekhan

2009-09-10T20:04:00.000+06:00

The BSE Sensex surged 1.2% on Thursday, extending gains into a fifth successive session, backed by strong world markets and expectations the administration would focus on ensuring growth.

Financial stocks including private-sector lenders ICICI Bank and HDFC Bank headed the gaining chart on signs the easy economic position would continue to improve consumer spending.

India's main economic concern was lifting growth rather than inflation, Finance Secretary Ashok Chawla said on Wednesday, adding he saw no need for RBI to alter policy.

Market traders said this suggested interest rates would not climb rapidly and helped boost overall reaction.

After Market Report : Nirmal Bang

2009-09-10T20:02:00.000+06:00

Market Round Up

The benchmark index extended its winning streak to the fifth day and ended flat as profit-taking erased earlier gains. The Sensex advanced 33 points to close at 16,216 after trading between 16,434 and 16,166. The Nifty ended with just 5 points gain at 4,819 after shedding 69 points from day's high of 4889. Metals, banking and IT stocks posted gains today, realty and auto counters ended lower. The volumes were very high, total traded turnover was at Rs 1,01,849 cr. as against Rs 78,551 cr. and the market breadth was also negative. The Sept Nifty future ended with 15 points discount.

Movers & Shakers

Advani may take up “Yatra” from Sep.15

2009-09-06T02:19:00.001+06:00

New Delhi, Sep 5 : Senior BJP leader Lal Krishna Advani is all set to take up nationwide ''Yatra'' to boost the morale of party cadres and conduct a talent-hunt among the GenX of the party.

Advani would launch his ''yatra'' around September 15 either from Jammu or Kerala, a report published in the Manoramaonline. com quoted a source close to Advani as saying.

Advani would also visit the three states of Maharashtra, Haryana and Arunachal Pradesh where the State Assembly polls are scheduled in the first week of October, as part of his yatra.

India’s proof in 26/11 Mumbai attacks probe insufficient: Pakistan

2009-09-06T02:17:00.000+06:00

Multan (Pakistan), Sep 5 : The Government of Pakistan on Saturday claimed that the evidence provided by Government of India regarding the 26/11 Mumbai attacks probe is insufficient and further movement will depend upon India’s response.

“India’s proof is not enough to carry the 26/11 probe. India needs to take the next step to carry the probe further,” Pakistan Foreign Minister Shah Mehmood Qureshi said during a press conference.

Werner Herzog on crazed roles and crazy actors

2009-09-06T02:16:00.000+06:00

Venice, Italy - While researching an idea for a movie, German director Werner Herzog visited a US trailer-park to interview a man who spent eight years in a mental asylum for killing his mother with an antique sabre.

"I could tell he was still insane and dangerous," the legendary director said.

Then something on the wall of the man's decrepit trailer sent a chill down his spine: a poster of his own film, Aguirre, the Wrath of God, displayed together with a candle and a crucifix.

Ecclestone: Renault not yet found guilty

2009-09-06T02:15:00.000+06:00

London - Grand Prix supremo Bernie Ecclestone does not yet consider Formula One team Renault guilty of cheating, he said in an interview published in the Daily Mail on Saturday.

"That the FIA World Motor Sport Council has become active does not mean that Renault is guilty," he is quoted as saying.

Renault is accused of deliberately instigating a crash at last year's Grand Prix in Singapore, which Alonso won after he was the only driver to have undertaken a fuel stop before the safety car phase.

India anguished over Nepal temple priest attack

2009-09-06T02:11:00.000+06:00

New Delhi, Sept. 5 : Following the attacks on two Indian priests at the Pashupatinath temple in Kathmandu, India said that the incident has caused deep anguish and serious concern in the country.

The Government said that the matter about the assault on the two newly appointed priests in revered Pashupatinath Temple was immediately taken up with Nepal authorities.

“The attack on the two newly appointed Indian priests, Girish Bhatt and Raghavendra Bhatt, at the revered and sacred Pashupatinath temple in Kathmandu on September

Tokyo stocks fall ahead of US unemployment report

2009-09-04T19:23:00.001+06:00

Tokyo - Tokyo stocks fell in Friday morning trading after initial rises as investors cautiously awaited the release later in the day of US unemployment data.

The Nikkei 225 Stock Average fell 16.54 points, or 0.16 per cent, to 10,198.1.

The broader-based Topix index was also down 4.65 points, or 0.49 per cent, at 938.12 as the August unemployment rate in the United States, one of Japan's largest export markets, was expected to tick up to 9.5 per cent from 9.4 per cent.

Hong Kong shares surge in biggest one-day gain in six weeks

2009-09-04T19:18:00.000+06:00

Hong Kong - Hong Kong shares jumped almost 3 per cent in a late buying spree Friday, pushing the Hang Seng Index back above 20,000 with its biggest one-day increase in six weeks.

The index climbed 556.94 points, or 2.82 per cent, to end the day at 20,318.62 with most of the gains coming in the last hour of trading.

Latest Forex Market Analysis by ForexHound.com

2009-08-23T01:59:00.001+06:00

The EUR USD opened the New York Session sharply higher following the release of better than expected economic reports out from France and Germany. The reports showed surprise improvements in French manufacturing and German services. This news set the table for a spike to the upside until Fed Chairman Bernanke declared that the U.S. economy was on the verge of emerging from the recession. His statement sent equity markets and the Dollar soaring putting downside pressure on the Euro.

Euro Manages to Hold on to its Gains - Forexhound

2009-08-23T01:53:00.002+06:00

The EUR USD managed to hold on to its overnight gains despite bullish comments from Fed Chairman Bernanke that boosted the U. S. Dollar. Early in today’s trading session the Euro rallied sharply higher following the release of better than expected economic reports from France and Germany. The reports unexpectedly showed improvements in French manufacturing and German services. The Euro was trading firm at the New York opening but positive comments from Bernanke regarding the recovery in the global economic community helped the U. S. Dollar improve, thereby limiting gains in the Euro.

EUR/USD Pops Above 8/13 Highs after Positive PMI Dat

2009-08-23T01:53:00.001+06:00

The EUR/USD is making a solid move higher past 8/13-8/14 highs after the wave of PMI data came in above analyst expectations. In fact, a couple PMI data points are registering expansion (50+) while the rest are making a strong case to do the same. Such positive improvements in data tend to have a larger impact on the EUR/USD than the GBP/USD since the ECB’s interest rate remains at 1%. The growth in PMI mirrors the expansion we saw in the EU’s Economic Sentiment data released earlier this week. Hence, the EU is making a good case for returning to GDP growth in H2. The EUR/USD is reacting accordingly, knocking on the door of our readjusted 2nd tier downtrend line.

GBP/USD Stares Down 8/13 Highs After Positive EU and U.S. Data

2009-08-23T01:52:00.000+06:00

The Cable is moving higher after EU PMI and U. S. Existing Home Sales data surpassed analyst expectations. The S&P futures are setting new 2009 highs while the EUR/USD tests some important technical barriers to the topside. However, the GBP/USD is only participating partially since investors are still sour about the level of debt in Britain.

GBP/USD Stares Down 8/13 Highs After Positive EU and U.S. Data

2009-08-23T01:51:00.001+06:00

GBP/USD Stares Down 8/13 Highs After Positive EU and U.S. Data

2009-08-23T01:51:00.000+06:00

USD/JPY Bumps Higher after U.S. Existing Home Sales Data

2009-08-23T01:50:00.002+06:00

Investors are biting on the USD/JPY after U. S. Existing Home Sales beat analyst expectations. The USD/JPY’s about face shows the level of uncertainty surrounding the viability of the Dollar. Investors are suddenly more comfortable buying the Dollar after a series of positive global economic data. However, the USD/JPY still clearly faces significant downward pressure, and it will take more than one session of data to turn things around.

Gold Darts Past $950/oz in the Wake of Positive Data

2009-08-23T01:50:00.001+06:00

The EUR/USD broke out to the upside after positive PMI data, and gold responded. The precious metal rode past our 3rd tier uptrend and 2nd tier downtrend lines on its way to $950/oz. However, Gold’s rally is pausing after better than expected U. S. Existing Home Sales data caused the Dollar to appreciate. Gold is not quite sure which direction to head in with the Dollar appreciating and the S&P futures setting fresh 2009 highs.

Hence, the precious metal is in a correlative flux. Regardless, today’s movement is certainly positive and shows gold is still in a medium-term uptrend despite recent weakness. That being said, the precious metal must deal with a couple strong technical obstacles to the topside.

Boost expected by Freeview after deal with Prime broadcaster Sky

2009-08-20T22:14:00.000+06:00

A breakthrough deal between Prime broadcaster Sky, Freeview and Kordia has been successful, which means that Freeview subscribers can tune in to Prime Television from today.

With this deal, Freeview satellite and HD subscribers would be able to watch popular TV shows, including Flight of the Conchords and Top Gear, as well as the delayed broadcasts of sports matches such as All Blacks games.

From quite sometime now, Freeview has been pushing for the inclusion of Prime in its line-up, while claiming that Prime's absence had limited the take-up of the free-to-air service.

A deal had been avoided by Sky till now since it believes claiming it would not be economic to put Prime on Freeview.

With the recent development, more people should be lured on to Freeview and digital television.

According to Freeview general manager Sam Irvine, "A number of people out there have been waiting for Prime to join Freeview. There's also still a large number of people on analogue TV it's still about 40 per cent of people so now is a great time for them to move, all the major channels are on digital for free."

Already, over 250,000 homes have switched to Freeview.

Mr. Irvine said that Sky would stand to benefit from the arrangement.

He said, "We've always believed that Prime should be there as Freeview is a free-to-air digital platform they're missing out on viewers by not being there."

He concluded: "Sky would help Freeview cover its administration and marketing costs as part of the deal, but he would not confirm this would cost Sky $350,000 over three years, as previously reported by The Dominion Post."

Netscape founder Andreessen backing new browser startup - RockMelt

2009-08-20T22:12:00.000+06:00

According to The New York Times' Thursday report, citing unnamed people 'in the know,' Netscape founder - now developer-turned-financier - Marc Andreessen is backing a new browser startup, RockMelt!

Andreessen was the brain behind the Netscape browser - a browser that helped millions of users access the Internet in the 1990s; but later lost the browser and Web server market to Microsoft's Internet Explorer packaged with the Windows operating system! And now, Andreessen is backing a new browser probably because it might chip away part of Internet Explorer's market share!

Moreover, going by the newspaper report, Andreessen has an earlier association with the co-founders of RockMelt - Eric Vishria and Tim Howes- both of whom are former Opsware executives. Incidentally, it was Andreessen who co-founded Opsware, and later sold it to Hewlett-Packard. Howes has also worked with Andreessen at Netscape.

Though the site of RockMelt, which will be a browser to be built 'from a scratch,' does not disclose much detail about its technology, it does allow people to tender their e-mail to keep pace with the browser's future updates.

Andreessen had, some time back, told the Times that with Web fast becoming a network of complex Web sites, a new browser is needed to effectively deliver services to end users. In addition, with Andreessen being a Facebook board member, the RockMelt browser reportedly would be a singular 'social networking browser'!

Pear Analytics: Twitter most commonly used for “pointless babble”

2009-08-20T22:09:00.000+06:00

According to a recent study by marketing intelligence firm Pear Analytics, the most common use for Twitter is for "pointless babble," followed by conversations between people; with the third most-used purpose of Twitter being "pass-along value" - as tweets become re-tweets (RT)!

The two-week study - supposedly following an argument between Pear Analytics' employees about the purposes for which Twitter is actually being used - sampled 200 random tweets per day from the US; thereby reaching a total of 2,000 tweets sampled.

Statistically speaking, the study revealed that while almost 40 percent of the tweets were about some "pointless babble"; 37 percent were parts of conversations; and 12 percent comprised re-tweets or "pass along value." Furthermore, nearly 5 percent of the tweets pertained to self-promotion; and 3 percent each were related to news and spam.

Saying that Pear Analytics "will be conducting this same study every quarter to identify other trends in usage," CEO Ryan Kelly added that the firm was interested in noticing whether there would be a change in use of the popular microblogging site for news, or will it continue to be a source of personal messages.

Though the report said it had not expected the "conversational category would be as high as it was, or self-promotion to be as low as it was," it stopped short of making any predictions for future Twitter usage.

BT to launch 40mbps broadband service in Glasgow

2009-08-20T22:06:00.000+06:00

BT has revealed its plans to provide Glasgow with superfast fibre-optic broadband as soon as this autumn, making it the first city to have the next-generation service.

The telecoms giant has confirmed that over 15,000 homes plus businesses in Hillington, Crookston and Cardonald will receive fibre to the cabinet capable of delivering speeds of up to 40Mbps.

BT may increase the speed of the service to 60Mbps in future.

It may be noted here that ambitious BT has plans to bring up to 40% of the UK households under the next-generation service by 2012.

Openreach, network business arm of BT will put-in 56 new street cabinets.

Speaking on the topic, Bob Downes, a big shot at Openreach, said, "The race to get super-fast broadband into Glasgow is well and truly underway."

It should be noted here that Glasgow has got the opportunity after London objected over the service, citing aesthetic issues.

Dairy plummets, takes along producer output prices!

2009-08-20T22:04:00.000+06:00

It has been forwarded by Statistics New Zealand (SNZ) that a fall of 0.7% was noticed in producer's output prices, while input prices remained unchanged.

While the main contributors to the output index fall were lower prices for exported dairy products, such as whole milk powder, cheese, and butter; the largest downward contribution to the index in the latest quarter was made by the dairy product manufacturing index, with a fall of 19.9 percent.

If the inputs index is considered, then the most significant downward contribution was made by a 6.7 percent fall in the sheet and fabricated metal product manufacturing index.

SNZ said: "Lower prices for raw materials, the rise of the New Zealand dollar and lower demand due to worsening economic conditions, were cited as the main drivers of that fall. Electricity generation and supply rose in both the outputs (up 11 per cent) and inputs (up 10.4 per cent) indexes in the latest quarter."

The prices were mainly increased due to higher spot market prices in the winter season, while higher prices for natural gas, used in the generation of electricity, also contributed to the rise in the inputs price index.

A rise by 2.1 percent was noted in the PPI (producers' price index) in the year to June, while the PPI inputs index dropped 1.2 percent - marking the first annual fall in the inputs index since March 2004.

Dubai Taxi Corporation launches passenger survey

2009-08-20T22:02:00.000+06:00

The Dubai Taxi Corporation (DTC) at the Roads and Transport Authority has started a passenger survey to find the satisfaction level of the public, regarding services and facilities being offered by the corporation in the city.

Passengers can directly interact with DTC CEO Abdul Aziz Al Malek through chat for any suggestion and feedback regarding the services at 'Speakers' Corner'.

Al Malek said: "This campaign is a tool to gauge the opinion of customers who will be able to debate and comment on several matters related to DTC." The corporation, through personal interaction and questionnaires, will gather different ideas from the public, know their viewpoint, and use their feedback for further improvement in the quality of services.

The campaign, launched at Wafi and Modesh City, will continue throughout the year, covering different places in Dubai, such as hospitals, malls, hotels and Dubai International Airport terminals.

Mr. Malek, seeking valuable feedbacks from public, said: "Such dialogue will enable several questions to be asked in an open and free environment.

This interactive method is believed to be highly effective in probing customer opinion as it provides a platform for producing new concepts and information."

World Market Review and Indian Stock Market Analysis by Nirmal Bang

2009-08-20T22:00:00.000+06:00

U.S. stocks retreated, pushing the S&P 500 index down the most in six weeks, as investors speculated the global economy isn’t expanding fast enough to justify the steepest equity market rally in seven decades.

U.S. stocks staged their fastest advance since the Great Depression after falling to a 12?year low on March 9, rising as much as 50% over five months on signs the global recession is easing. Speculation that growth in China would spur demand for raw materials helped send the Reuters Jefferies/CRB Commodity Price Index up 32%.

China’s Shanghai Composite Index sank 5.8 % yesterday, the steepest slump since Nov. 18, after Ping An Insurance (Group) Co. reported profit that trailed projections and the government reported a 10th straight monthly decline in foreign investment. Yunnan Copper Industry Co. said there are “no clear signs” of a recovery after posting a first?half loss.

Commodity producers retreated as investors speculated that a rally in riskier assets has outpaced prospects for economic growth. The CRB index of 19 raw materials fell 1.6 %.

China’s benchmark stock index, the world’s worst performer this month, may fall another 10 % as bank lending slows, said Andy Xie, a former Morgan Stanley chief Asian economist.

“The current correction is reflecting the tightening in lending,” said Xie, who correctly predicted in April 2007 that China’s equities would tumble. “We’ve seen the peak of this market cycle, though there’s likely to be a bounce as the government seeks to stabilize the market.”

Today morning Most Asian stocks fell, led by commodity companies, after metals prices slumped amid concern the global economic recovery will fail to meet investors’ expectations. A measure of six metals, including copper and zinc, traded on the London Metal Exchange fell 2.7 % yesterday to the lowest level in a week. Copper futures in New York dropped 2.3 %, while oil sank 1.1 %.

a weather bureau official said that revival in India’s monsoon rains is helping ease dry weather that’s caused drought in a third of the nation’s districts and dented sowing of rice and sugar cane. Uttar Pradesh, the country’s biggest cane grower, Madhya Pradesh, the largest soybeans producer, and Bihar, a top grower of rice and corn, received “good rain” over the past few days, said Ajit Tyagi, director general of the India Meteorological Department, from New Delhi today. Monsoon rain may be similar to 2002, when showers were 19.2 % below average and the nation faced its worst drought in 12 years, Tyagi said last week.

Seven new companies listed in KSE- 30 Index

2009-08-19T15:00:00.002+06:00

KARACHI: The Karachi Stock Exchange (KSE) while renewing KSE-30 Index included new companies after removing seven old companies. According to KSE, the companies removed are Arif Habib Ltd, Pervaiz Ahmed securities, Askari Bank, Bank of Punjab, EFU General Insurance, Netsol Technologies and NIB Bank. These companies replaced by Kot Addu Power Company, Attock Petroleum, ICI Pakistan, Bank Al Habib, National Refinery, Pakistan Reinsurance and Shell Pakistan.

Patrol, diesel shortage in various parts of country

2009-08-19T15:00:00.001+06:00

LAHORE: There are reports regarding shortage of patrol and diesel in various parts of the country, particularly in Punjab and many petrol pumps have run short of fuel. Talking to Geo News, Chairman of Petroleum Dealers Association Abdul Sami Khan said fuel stations are being delivered 60 to 70 percent fuel less than the demand in cities including Mianwali, Sargoda and Multan, while Gilgit is also facing the similar problem. According to the dealers, petroleum products are available in black market in some places including Mianwli. Meantime Oil Marketing Companies assert there is no discontinuation in the supply.

China to appeal WTO ruling

2009-08-19T14:55:00.000+06:00

BEIJING: China said on it will challenge a World Trade Organisation ruling against its restrictions on imported films, books and audio-visual products, continuing its sparring with Washington over trade access. Beijing said last week it may appeal against the WTO panels ruling, which upheld key parts of a U.S. complaint about Chinas controls on cultural products, which Washington says hurt publishers, Hollywood and entertainment multinationals. Now a spokesman for the Chinese Ministry of Commerce has said that appeal will certainly go ahead. "We think it was improper for the WTO not to reject the U.S. request," the spokesman, Yao Jian, told a news conference in Beijing. "Based on the WTO schedule, we are preparing the documents necessary to lodge an appeal." Yao did not give any other details of Chinas appeal.

Indian Stock markets trading higher, BSE Sensex up by 160 points at 11.03 AM IST

2009-08-18T23:30:00.001+06:00

In a surprise move, Indian Stock markets have gone opposite to the global weakness. The stock market started inching up during the morning session. At 11.03, BSE Sensex was up by 160 points at 14948. NSE Nifty was up by 51 points.

Among major gainers on NSE were, ONGC (up by 1.6%), Hindalco (up by 3.2% at Rs 104), Siemens, M&M, DLF, Larsen & Toubro, Jindal Steel and Suzlon Energy.

Among major gainers on BSE were, Jaiprakash Associates, SBI, Maruti Suzuki, Tata Steel, ICICI Bank and HDFC Bank.

Prism Cement gains; Ashwani Gujral suggests Rs 79 as target

2009-08-18T23:27:00.000+06:00

Prism Cement was among major gainers in today’s session. At 11.30am, the stock was trading 6% higher compared to previous close.

The stock has touched an intraday high of Rs 54.25 on NSE. The trading volumes are high as well. On NSE, during the first hour of trading, 2.1 million shares changed hands while the volume on BSE was 1.4 million shares.

The stock is trading near its 52-week high of Rs 60.

Crude Futures Consolidate above $70/bbl as Correlations Rest

2009-08-18T18:30:00.000+06:00

Crude futures found support in our 1st tier uptrend line Wednesday as the Dollar weakened and the S&P futures rallied past 1000. Crude managed to avoid any technical pullback in the process, and has climbed back above its psychological $70/bbl level. However, there remains immediate-term downward pressure in the form of previous August highs and our 2nd and 3rd tier downtrend lines. Meanwhile, our 2nd tier downtrend line is colliding with our 2nd tier uptrend line, corresponding with the inflection points taking place in the GBP/USD, EUR/USD, USD/JPY, and gold.

EUR/USD Sinks After More Negative U.S. Data

2009-08-18T18:29:00.000+06:00

The EUR/USD has dropped through our 3rd tier uptrend line after America’s U of M Consumer Sentiment number came in weaker than expected. Today’s pullback in consumer sentiment adds to yesterday’s disappointing retail sales data. The battered American consumer is not making a return as quickly as analysts hoped due to the persistently high level of unemployment. The S&P futures are off nearly -2% and crude is trading lower by over -3.5% in reaction to the news, dragging the EUR/USD lower due to positive correlations.

USD/JPY Sinks Beneath our 1st Tier Uptrend Line and 95

2009-08-18T18:28:00.000+06:00

The Yen’s appreciation against the Dollar has carried through our 1st tier uptrend line and the psychological 95 level, two important technical supports. Meanwhile, U. S. equities, crude, and gold are trading sharply lower. Hence, we are witnessing broad-based risk aversion. Though the USD/JPY’s sell-side volume remains subdued, downward momentum across the marketplace is a bit disconcerting.

Forex: EUR/USD: Expect a burst higher to 1.4600 or, eventually, 1.5000 - Mizuho

2009-08-05T16:18:00.001+06:00

FXstreet.com (Barcelona) - The Euro has been trading in a tiny range from 1.4370 to 1.4400 after it rally from 1.4100 was capped at 1.4445 year high, however, according to Nicole Elliott, technical analyst at Mizuho Corporate Bank, the Euro could explore higher levels before the end of the week.Elliott affirms that the Euro is not overbought and that the pair could burst higher: "Surprisingly the Euro is not overbought so expect another burst higher hopefully by the end of this week."On its way up, the Euro could hit levels around 1.4600 or even 1.5000, says Elliott: "Our measured targets are 1.4600 and eventually the psychological 1.5000."

Forex: GBP/USD: Pound needs a corrective dip to 1.6800 - DailyFX

2009-08-05T16:16:00.001+06:00

FXstreet.com (Barcelona) - The Pound has risen to 2009 highs at 1.7000 from levels around 1.6400, to enter on a flat trading range from 1.6900 to 1.7000 and, according to the Daily FX Research Team, the pair could move down before going higher.Sterling is overbought on intra-day studies, says the Daily FX Research Team, and a dip towards 1.6800 is needed: "The overbought intraday studies are the primary catalyst here, with the daily ATR also well exceeded. We will hold the position into to the close and look to reassess. There is definitely the need for a material corrective pullback towards 1.6800 at a minimum over the coming hours."

Forex: AUD/USD: Aussie losses strength after hitting 0.8470 10 mth. high

2009-08-05T16:14:00.003+06:00

FXstreet.com (Barcelona) - Australian Dollar rally from Jul 13 low at 0.7700 reached its peak on Tuesday at 0.8470, the highest level since late September, and the pair has remained consolidating at levels above 0.8385 ever since.According to the E-Forex Team, Australian Dollar rally has lost strength, and intra.day momentum turned to negative: "Intra-day momentum is losing strength and became negative, favoring further downside price action towards the first support eyed at .8385 then lower, at .8330 which initially served as resistance."Aas long as potential correction holds above 0.8300, says the E-Forex Team, the pair would be prone to test new highs: "As long as the Aussie dollar holds gains above .8300, short-term momentum will remain intact and a corrective cycle would provide new buying opportunities."

Forex: GBP/USD: Pound needs a corrective dip to 1.6800 - DailyFX

2009-08-05T16:14:00.002+06:00

Germany Purchasing Manager Index Services rises to 48.1 in Jul from 45.2 in Jun

2009-08-05T16:08:00.001+06:00

FXstreet.com (Barcelona) For more information, read our latest forex news.

EU Purchasing Manager Index Services up to 45.7 in Jul from 44.7 Jul

2009-08-05T16:07:00.001+06:00

FXstreet.com (Barcelona) For more information, read our latest forex news.

Euro Zone Services PMI's slightly above forecasts; Euro unchanged

2009-08-05T16:03:00.001+06:00

FXstreet.com (Barcelona) - Euro Zone services PMI Index has risen to 45.7 in July from 44.7 in June, somewhat above the 45.6 reading forecasted by market analysts, while German services PMI rose from 45.2 to 48.1 in July.The Euro has not been affected by the improvement in services sector´s Activity, and the pair moves right in the middle of the 1.4370 to 1.4430 range.

DATA SNAP: Euro-Zone Output Decline Eases Further In July

2009-08-05T16:02:00.001+06:00

DATA SNAP: Euro-Zone Output Decline Eases Further In July By Nicholas Winning Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The contraction in euro-zone economic output eased more than expected in July to its weakest rate for 11 months, another sign that the severe slump in the 16-nation currency area is bottoming out, data from Markit Economics showed Wednesday. The final reading of the euro-zone composite output index -a closely-watched gauge of economic activity -rose to 47.0 in July from 44.6 in June. Nevertheless, it remained below the neutral 50.0 level, indicating that output has contracted for a 14th consecutive month. A reading below 50 indicates a drop in output while a reading above indicates an expansion. Markit also said the services business activity index rose to a 10-month high of 45.7 in July from 44.7 in June. On Monday it said the purchasing managers' index for the manufacturing sector had recovered to an 11-month high of 46.3 in July from 42.6 in June. Economists were expecting the composite measure to increase to 46.8 in July, in line with the flash estimate, according to a Dow Jones Newswires survey of economists last week. -By Nicholas Winning, Dow Jones Newswires, +44 207 842 9498; nick.winning@dowjones.co -0-
(MORE TO FOLLOW) Dow Jones NewswiresAugust 05, 2009 04:24 ET (08:24 GMT)Copyright 2009 Dow Jones & Company, Inc.