T20AUG02

Global Markets
1. Energy & Financials uplift market spirits; makes a jump above all moving averages S&P Chart
2. Oil crosses above $80 levels first time since May on the background of strong economy Oil Chart
3. Dollar clearly on a downtrend; no signs of turnaround yet, it is at crucial levels @ $80 Dollar Chart
4. Gold back on track, holding on to 100EMA Gold Chart
Economy
5. Export of goods from the country in Jun ‘10 jumped by 30.4% at $17.75 billion compared to $13.60 billion
6. SEBI may not accept the recommendation to raise the minimum net worth of asset management companies (AMCs) to Rs 50 crore
7. Liquidity is back on deficit mode: Call money rate past 6%; 10-year yield touches 3-month high
8. Pvt. Insurance cos., continue to clock profits, despite brewing ULIP controversy Q1 profit/loss of life insurers (Rs cr)
9. RBI to allow trading in currency options on spot US dollar-rupee on stock exchanges
10. Forex reserves up by $1.04 bn to $283 bn
Indian Markets
11. India Inc. posts good results and Nifty remains range bound with an upward tilt Nifty Chart
12. Clearly FIIs are driving this uptrend: FIIs remained net buyers to the extent of Rs. 17120 Cr (Month ending Jul ‘10); DIIs sold Rs. 4405 Cr (Month ending Jul ‘10)
13. Draft norms on health insurance policies and IPO norms for general insurance soon: IRDA
14. Basel III and the new financial order will come up for further discussion in Nov’10 when the G-20 meets
15. Shriram Group plans to buy Citi Financial: Group said it had begun the due diligence and expected to conclude the deal in a week
Sectors
16. Core sector grows 3.4% in June, coal biggest drag
17. Bankers see no immediate impact on auto & home loans, post the RBI rate hike
Stocks
18. L&T bags INR 6.5bn ($139mn) power plant order from Jaiprakash Group L&T
19. Yes Bank plans to raise INR 4.5-5bn($98-106mn) to fund its biz growth YES Bank
Quotes
20. “Fear is the foe of the faddist, but the friend of the fundamentalist” - Warren Buffett