T20 2Feb2011

Global Markets
1. S&P looks positive after facing a resistance level of 1300 S&P Chart
2. US Dollar – moving downwards after a volatile month Dollar Chart
3. Crude prices on the rise in response to crisis in Egypt also finding support at around $ 86/ bn. Oil Chart
4. Gold prices volatile in the month of Jan and on a downward trend. Gold Chart


Economy
5. Government may remove countervailing duty on imports, in attempts to control inflation.
6. Finance ministry to pay $1.74 bn oil subsidy in Dec quarter.
7. ADB to provide $7.4 billion assistance to India for 2011-2013 for sustained growth and development.
8. India's forex reserves increase $1.97 bn to $299.39 bn.
9. Karnataka govt to disinvest in 10 loss-making PSUs, wind up 3.


Indian Markets
10. Nifty witnesses negative trend. Nifty Chart
11. FII’s on a selling spree in the Indian markets have purchased shares worth net Rs. 4,756.2 Cr, but domestic fund picked up the slack but purchasing shares worth net Rs. 38,017.4 Cr.


Stocks
12. State-run oil co losses on diesel sales climb to Rs 9.23/ltr.
13. Three years on, new telcos fail to connect, 6 telcos share 5% piece of the pie.
14. Airlines may hike airfares as fuel prices rise.
15. Egypt turmoil may hit Indian oil companies as Brent tops $100/bn.
16. Overcapacity to exert further pressure on cement prices: Fitch.

Stocks
17. Bharti Airtel Q3 net falls Bharti Chart
18. DLF plans Rs 300-400 cr investment. DLF Chart
19. ITC to raise packaged food prices by 7-8% ITC Chart


Quotes
20. “When I was young I thought that money was the most important thing in life; now that I am old I know that it is.” Oscar Wilde