T20-9th March 2010

Global Markets
1. Jobs data beats expectations, uplift market spirits: Will it crossover recent highs of 1150? S&P chart
2. World Indices: Best performing Index last week was FTSE with gain of 3.6% and the worst was HANG SENG with gain of 0.9%
3. Currency woes continue on PIGS backdrop: Euro sheds gains against the dollar after the Greek prime minister warned that if the Greek crisis worsened it could lead to a new global financial meltdown
4. Dollar index is currently trading above the 80 mark – Will it turnaround from here?
Economy
5. Banks on a win-win? Credit growth picks up registering an increase of INR 226 bn during the fortnight ending Feb 13, 2010
6. Time not ripe for decontrol of lending rates: Subbarao says, complete decontrol of lending rates was not possible currently, but it might be possible when the country achieved double-digit growth and improved farm productivity
7. Inflation concerns mount: Yield on the benchmark 10-year government bond has climbed 14 basis points to 8 percent since the budget on inflation concerns
Indian Markets
8. Midcaps rule!: CNX MIDCAP with gained 7.6% while the SENSEX gained 4.6%. Midcap chart
9. Weekly FII inflow highest in last 5 month: Net buyers Rs. 4,973.65 Crore for the week ending March 08, 2010. Are the FIIs getting excited on India again?
Sectors
10. Auto sales in February at new monthly high: Indian auto industry said its February sales were the highest ever for a month, breaking the earlier record set only in January this year, as consumers rushed to beat a possible hike in prices following the Budget
11. Duty on crude oil to hit private refineries more: The increase in the Customs duty on crude oil in the Budget is likely to impact the realizations of domestic non-government refiners, Reliance Industries and Essar Oil.
12. Banks raise teaser rates on Auto loans: ICICI & HDFC Bank were first inline to raise auto loans by 50bps
13. FMCG products to be costlier by up to 7%: Beauty creams, hair oil, shampoos and other household items will cost more with prices set to increase prices by up to 7% due to the excise duty hike announced in the Budget
Stocks
14. Daimler to sell 5.34% stake in Tata Motors: German car major Daimler AG is exiting Tata Motors, India’s largest commercial vehicles maker. Daimler, which held 5.34% stake in the company, plans to raise around Rs 1,950 crore from the share sale
15. Cigarette price rise inevitable ITC: ITC said that hike in cigarette prices is inevitable due to imposition of excise duty on tobacco in the Union Budget for 2010-11. How much can be passed on needs to be seen.
16. NMDC down on FPO pricing: Shares similar fate with NTPC, REC NMDC Chart
17. Zicom Electronics is making some strategic changes in its operations/business. Will this affect the scrip prices? Zicom chart
18. Bank license queue gets lengthier: LIC stands in line for bank license
Quotes
19. Wall Street people learn nothing and forget everything - Benjamin Graham
20. The value of education...is not the learning of many facts but the training of the mind to think something that cannot be learned from textbooks - Albert Einstein