T20_14Sep2010

Global Markets
1. S&P remains intact with no negative global cues coming in S&P Chart
2. US dollar remains range bound, unable to break-out of 100 / 200EMA Dollar Chart
3. Crude cuts above $75, holds above 100EMA; couple of US pipeline leaks disrupted supplies 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. WPI inflation rose 8.5% annually in Aug ‘10, based on a new data series, it’s second straight month of decline
6. Quantum of funds mopped up by India Inc from IPOs and rights issues in July ’10 remained flat at Rs. 2,961.90 crore, similar to last month
7. Organization for Economic Cooperation and Development (OECD) said growth in Asian economies like China and India that had been guiding global economic recovery, will moderate in the coming months
8. Government expects to complete the ONGC and IOC divestments by the end of this fiscal and hopes to raise up to Rs 19,000 crore from the process
9. Interest rates hike on the cards; Inflation warrants monetary tightening, says Economists
10. US-based distressed debt fund Aurelius Capital Management is the only creditor to have not signed on to Dubai World $24.9 billion restructuring deal
11. Finance Minister Pranab Mukherjee said that India will have to remain cautious, as the global economic slowdown is not yet over

Indian Markets
12. Nifty gives a standing ovation performance by scaling 32 month highs Nifty Chart
13. FIIs continue on a buying spree, bought share worth a net Rs 2519.88 cr on September 2010, as per provisional data from the stock exchanges - Domestic funds sold shares worth a net Rs 960.81 cr on that day
14. Gold prices have risen about 14% this year and are set for a 10th annual gain as investors seek protection against financial turmoil in Europe

Sectors
15. Telecom & Defence ministries are close to finalizing settlement to divide the country spectrum between them, ending a long standoff
16. Govt. is likely to make it mandatory for mining cos to hand over a part of their revenues & make annual payments to land losers
17. Land prices up 50 times in 10 yrs; real estate developers are making a killing on projects along the corridor
18. Steel demand to grow at 9.2% in 5 years, says a report by ratings agency Credit Analysis & Research ltd

Stocks
19. Mercator Lines mulls $500mn capex plan for expansion of its coal sector & offshore activities MLL Chart

Quotes
20. "Even the intelligent investor is likely to need considerable willpower to keep from following the crowd." - Benjamin Graham