T20_07Sep2010

Global Markets
1. S&P made a smart uptick; cuts above all resistances in the form of moving averages on the backdrop of strong US data S&P Chart
2. US dollar falls to 200EMA, will it take support and bounce back like it did in the past? Dollar Chart
3. Crude continues to trade in a range bound manner, faces resistance above $75 levels Oil Chart
4. Gold makes a smart uptick, it continues to trade in a range bound manner with a positive bias Gold Chart

Economy
5. Direct tax mop-up has exceeded Rs 1 Lakh Crore mark in the first 5 months of the financial year, on the back of growth in revenue receipts from the corporate sector
6. RBI says higher capital requirements for Basel 3 norms will not hit banks significantly
7. Indian economy grows by 8.8% in Apr-Jun ’10; Financial Services restrained the growth by clocking only 6%
8. India's fiscal deficit from April to July ‘10 was Rs 90,915 crore ($19.3 billion), or 23.8% of the full-year target
9. India has replaced the US as the second most important foreign directive investment (FDI) destination for transnational corporations during 2010-2012
10. Indian rupee rallied to a 4-week high of 46.54/55 against the US dollar amid a sharp surge in domestic equities and sluggishness of the American currency overseas
11. Yield on the benchmark 10-year 2020 bond was hovering at 7.95%; lower than the previous close of 7.99%

Indian Markets
12. Nifty makes a quick recovery; short term outlook remains positive Nifty Chart
13. FIIs & DIIs: FIIs remained net buyers to the extent of Rs. 1160.9 Cr (Month to date); DIIs purchased Rs. 180.4 Cr (Month to date)
14. Gold climbs to Rs 19,405 per 10 gms in Indian Market in the backdrop of festive season

Sectors
15. Sugar Ind ready to support Ethanol - Blending drive; offers 1000mn litres ethanol to OMCs
16. Indian IT funding cash-strapped client projects; Infy, Wipro invest upfront in building systems for customers & offer them on pay-as-you go basis
17. Oman to invest $3bn in India's fertilizer sector; both sides open to co- operation as trade hits $4.5bn

Stocks
17. L&T eyes 17% IRR from Hyderabad project L&T
18. Acquisitions to drive Tata Global's foods foray, co plans to continue building its non tea portfolio ONGC Chart

Quotes
20. "Wealth was once measured in Gold. Now it’s measured in what we know” – Dianna Booher