T20_29Sep2010

Global Markets
1. S&P continues an uptrend amidst brief interruption S&P Chart
2. US dollar shows bearish signals as 50 EMA tries to cross below 200 EMA Dollar Chart
3. Crude holds on to 50EMA, a cross above the moving averages will create a definite direction Oil Chart
4. Gold continues its rally further and makes a new high of $1296.50 Gold Chart

Economy
5. India s Forex reserves up by $3.23 bn to $287.73 bn
6. India s external debt rose 16.5% from $224.5 billion in FY09 to $261.5 billion in FY10Food Inflation surges 15.10%, data based on new base yr, amended basket of items
7. Sensex floats above 20K levels on the back drop of strong FII buying; indicates robust economy
8. Logistic bottlenecks affecting GDP By 2%
9. Yield on 1yr T-bills hits 6.65%; high bank borrowing, rate hike concerns drive-up yields
10. Cement prices may rise by up to INR 20 from this week in Gujarat
11. Steel prices may go up by INR 1500 a tonne in the next few days to cash in on the pick-up in demand in the festive season

Indian Markets
12. Rally continues - but how long will it sustain? Nifty Chart
13. FIIs continue on a buying spree, bought share worth a net Rs 20899 cr Month to date; Domestic funds sold shares worth a net Rs 4128 cr – MTD
14. Bullion has gained around 19% this year; Gold appetite strong; monsoon, rupee lift demand

Sectors
15. Rising interest rate can play spoil sport for the auto industry
16. Cotton ginners across the country expect cotton production to hover around 35.5 million bales in 2010-11
17. Realty IPOs face perfect storm due to rising prices

Stocks
18. Zen mobile aims at 7 – 10% market share – will be launching more models Zen Tech Chart
19. EIH plans to raise up to 13 bn rupees through rights issue EIH Ltd Chart

Quotes
20. "Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results." - Warren Buffett