T20_09AUG2010

Global Markets

1. Trades above moving averages in a range bound manner with an upward bias S&P Chart
2. Federal Reserve to consider, and perhaps even adopt, additional measures to prop up a softening US economic recovery.
3. Oil makes a U-turn a notch below $84 levels; approaches $80 levels Oil Chart
4. Dollar stays close to crucial levels of $80 Dollar Chart
5. Gold makes a smart uptick, takes support @ 50EMA. Gold Chart

Economy

6. Tax code bill to retain most draft proposals, except in a few contentious areas such as taxation of special economic zones (SEZs), capital gains and unit-linked insurance plans (ULIPs).
7. India’s defence industry is poised at a landmark: 3 private & 1 public company will submit bids to develop a high-tech weapon system for the defence forces.
8. Projected inflation to fall to 6% by the end of this year, while most policy makers pegged it at 6%-6.5% by this financial year-end.
9. Oil spill shuts India's busiest port - Jawaharlal Nehru Port, threatens other coasts.
10. India's industrial output is expected to rise 8.4% in Jun ‘10 from a year earlier, with growth slowing after 8 months of double-digit increases.
11. Govt dilutes 25% to 10% public float norms for state-owned enterprises.

Indian Markets

12. Nifty continues to trade above 5450, a key support level – euphoria builds Nifty Chart
13. Clearly FIIs are driving this uptrend: FIIs remained net buyers to the extent of Rs. 3279.5 Cr (Month to date); DIIs sold Rs. 630 Cr (Month to date)
14. Gold traders trickled in as prices eased a tad below the $1,200 an ounce-mark; a weaker rupee, which makes the dollar-quoted asset expensive, weighed on sentiment.

Sectors

15. Auto sales at record 1,237,461 units in July, 2010.
16. Lending rates may go up from Oct ’10: Banks are likely to start raising lending rates at the end of Sep ’10 as they review their base rates.

Stocks

17. Telecom VAS provider One97 Comm Ltd plans to raise Rs 120 cr through an IPO by Sep ‘10, for expansion.
18. Glenmark settles patent dispute with Sepracor. Glenmark Chart
19. Govt. ties up with TATA Motors ahead of Common Wealth Games. TATA Motors Chart

Quotes

20. "Individuals who cannot master their emotions are ill-suited to profit from the investment process." - Benjamin Graham