T20_29Dec2010

Global Markets
1. S&P 500 is at two year high S&P Chart
2. China's central bank has raised interest rates on loans that it makes to commercial banks to 2.25%
3. China's announced that it will lower its export quotas for rare earth minerals by 35 percent in the first half of 2011, raising concerns of a supply shortage and higher prices
4. Home prices falling faster in biggest US cities and are expected to fall through 1st half next year
5. USD- Still consolidating near 80 levels Dollar Chart
6. Gold again surges above 1400 after consolidating for 1 month Gold Chart

Economy
7. The index for primary articles group rose by 1.8%. The annual rate of inflation, calculated on point-to-point basis, stood at 15.35%
8. Fitch Ratings has revised up its forecast for India's GDP growth to 8.7%
9. India extends export ban on pulses until further order
10. Food inflation rises to 9.5%, fuel group inflation rebounds to 10.7%

Indian Markets
11. Nifty moves above 6000, may end the year above 6000 Nifty Chart
12. The 10-year yield is seen between 7.88-7.93%.
13. FII bought around Rs. 3000cr of equity after Christmas
14. Equity diversified NAVs ended higher with advance: decline ratio of 204:40 as the NIFTY closed above the psychologically important level of 6000.
15. The coal ministry has now approached the Cabinet to get a clearance for mining most of the areas classified as the 'no-go' zones by the environment ministry.

Stocks
16. Coal India is expecting to grow its Top-line by 13% Y-o-Y Coal India Chart
17. Etisalat, Airtel launch fiber optic cable from India to Europe Bharti Airtel Chart
18. Govt to up its stake in United Bank of India to 58% United Bank of India Chart
19. LIC housing finance to split its stock in ratio of 1:5 on 31st Dec. LIC Housing Finance Ltd Chart

Quotes
20. “It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.”-George Soros