T20_30JUN2010

Global Markets

1. S&P 500 indicates bearish signals; is there a further downside? S&P Chart
2. Oil on consolidation mode, with a downward bias Oil Chart
3. Dollar continues to trade above 50EMA Dollar Chart
4. Gold maintains a slight upward tilt; with equities turning bearish, will it be another dream run? Gold Chart

Economy

5. Fuel price hike to increase inflationary woes: Domestic LPG prices were hiked by Rs. 35/cylinder and kerosene rates went up by Rs. 3/litre, petrol prices were decontrolled and diesel prices were hiked by Rs. 2/litre.
6. Rate hike likely in RBI Quarterly monetary review: Expectations rife that the rate hike is likely, ahead of which banks fix their base rate.
7. Dividend payout for 2009-10 at all-time high: No sizeable capital expansion plans, corporate India decided to be generous for financial year 2010, with its biggest-ever dividend distribution to shareholders.
8. Deflation bigger risk than inflation, PM tells G-20: Need to avoid premature withdrawal of stimulus

Indian Markets

9. Nifty falters around 5300 levels Nifty Chart
10. FIIs and DIIs share bullishness: FIIs remained net buyers to the extent of Rs. 9883.9 Cr (Month to date); DIIs bought Rs. 341.5 Cr (Month to date).
11. IRDA unsettles ULIPs: Makeover still on, wants to make ULIPs more investor friendly.

Sectors

12. Cement prices may fall 10% on lower demand.
13. Banks decide to set base rate: base rate is at 7.5%.
14. Auto makers, vendors at odds over supply issues: After an uptick, there is something to worry about.
15. RBI to launch house start index to gauge realty sector.
16. Core sector industries grow 5% in May,2010: This being an indication that IIP numbers could be strong, however, this was marginally short of 5.4% growth in April, 2010.

Stocks

17. Essar Steel International BV acquired Servosteel (Oakside Solutions), the largest independent steel processor in the UK.
18. Renuka Sugars to pay 25% less for Brazilian co Equipav SA buyout. Renuka Sugar Chart
19. NTPC to float fresh tender for boilers NTPC Chart

Quotes

20. "The really big money tends to be made by investors who are right on qualitative decisions but, at least in my opinion, the more sure money tends to be made on the obvious quantitative decisions." - Warren Buffett