T20_26JUL2010

Global Markets

1. US regains ground, after a brief disturbance S&P Chart
2. Oil continues to remain choppy with an upward bias Oil Chart
3. Dollar holding onto 200EMA; a key support level Dollar Chart
4. Gold dips as equities rise on economic optimism. Gold Chart

Economy

5. Moody's upgrades India's sovereign currency rating citing economy’s resilience.
6. RBI raised the repo rate by 25 basis points (bps) to 5. 75%; reverse repo rate has been hiked by a slightly higher-than-expected 50 bps to 4.5%; CRR left unchanged.
7. Indian economy is projected to grow at 8.5% in 2010-11 and by 9% in 2011-12.
8. India continues to beat global indices; it happened then, it’s happening again… Global indices
9. Govt. moves bill to let insurers sell ULIPs without SEBI nod.
10. States want Central sales tax to continue with GST.
11. Equities on a high – US housing data improving; Euro peaks on European banks passing stress tests.

Indian Markets

12. Nifty on a smart uptrend as decent corporate results trickle inNifty Chart
13. Clearly FIIs are driving this uptrend: FIIs remained net buyers to the extent of Rs. 10435 Cr (Month to date); DIIs sold Rs. 2417 Cr (Month to date)
14. Monsoon 9% below normal; continues commodity woes.
15. No MAT for cos without local base.
16. Rising realty may add to inflation pressure; RBI credit to housing up 9.6%.

Sectors

17. India plans Rs50,000 cr power sector debt fund.
18. Buoyancy is back, says CII’s survey on SMEs.

Stocks

19. Dabur acquires Turkish personal care firm Hobi Kozemtik group for $69mn Dabur Chart
20. Ultratech gets nod for Samruddhi merger. Ultratech Chart

Quotes

21. "Those who have knowledge don't predict. Those who predict don't have knowledge." - Lao Tzu