T20_16Nov2010

Global Markets
1. S&P takes a U turn, goes into consolidation mode S&P Chart
2. US dollar – Breaks the resistance and heads north, takes support at moving averages Dollar Chart
3. Crude finally breaks down and heads down below $85 Oil Chart
4. Upward rally breaks Gold moves South Gold Chart

Economy
5. India has the capacity to absorb upto $70bn, further which it needs to worry of foreign inflows – especially US Federal Reserve’s move to buy $600 billion in government securities
6. RBI’s monetary policy has helped to bring down inflation to 9 month low of 8.58%
7. Forex reserves cross US$300 bn
8. Railways register 7.15% growth in freight loading in Oct 2010
9. September industrial output growth slows sharply to 4.4%
10. Food inflation eases to 12.3% on cheaper pulses

Indian Markets
11. Nifty takes a break after a steep bull rally Nifty Chart
12. FIIs continue on a buying spree, bought share worth a net Rs 21029.3 cr Month to date; Domestic funds bought shares worth a net Rs 6277.8 cr – MTD


Sectors
13. Tyre industry skids over stretching rubber prices
14. Security industry growing at 30% a year
15. Indian domestic car sales in October jump by 38%
16. Indian IT industry hails Obama’s outsourcing stand

Stocks
17. Heidelberg Cement is seeking to form joint ventures to secure coal supplies for a planned 12 billion rupee ($265 million) expansion Heidelberg Cement Chart
18. Ranbaxy Q3 net up 16.5% at Rs 312.8 cr Ranbaxy Chart
19. African safari weighs heavy on Bharti, net falls 27% to Rs1,661 cr Bharti Chart

Quotes
20. "If a business does well, the stock eventually follows." - Warren Buffett