T20 15th-March 2011

Global Markets

1. S&P 500 experiencing corrections after a prolonged period of steady growth. SP Chart

2. US Dollar was strengthening on the basis of fresh Euro zone credit woes, but reacting negatively to the Japanese crisis. Dollar Chart

3. Crude prices decrease on expectations of slower Japanese demand. Oil Chart

4. Gold prices steady after small decrease due to Japanese crisis and unrest in the Middle East. Gold Chart


Economy

5. Inflation rose to 8.31% in February adding more pressure on the Reserve Bank of India (RBI) to further tighten its monetary policy.

6. February, 2011 power output in India rose 6.78% yoy which is lower than last month rise of 9.29%, the slowdown in growth is due to coal and gas shortages in some plants.

7. Iron ore exports from India set to decrease by 35% in FY12 due to deterrents such as the rise in export tax.

8. Index for Industrial Production (IIP) grew by 3.7% better than expectations.

9. Indian exports jumped 50% in February helping the country achieve its goal of $200 BN for the fiscal year a month before the deadline.

10. India Inc may experience a rise in revenues for Q4, FY11 but faces a reduction in margins due to rising commodity prices.


Indian Markets

11. Nifty experiencing sideways movement, still facing major resistance at 5600 level. Nifty Chart

12. FIIs purchased shares worth a net Rs. 5,980.4 cr from start of the month (March) to Date, 2011; Domestic funds bought shares worth a net Rs 21,590.3 cr for the same period.

Sector


13. Mobile crooks: Telecom is the second most corruption prone sector in India after real estate and construction.

14. Pharma companies worried about growth in India. High inflation and lack of funds are likely to cause hurdles in the growth of the Indian Pharma sector.

15. An upset banking sector could see 86,000 commercial banks and 1 lakh co-operative banks all over the country go on strike during the coming parliament session against some concessions given to private sector banks in the budget.

16. Cement Co’s are happy as cement sales rose 7.23% in February, 2011 on the back of healthy demand.


Stocks

17. Educomp Solutions Limited receives order worth RS. 6793 crore from Maharashtra govt. Educomp Chart

18. SAIL planning to build steel plant and power unit with Japanese Kobe steel in Uttar Pradesh for Rs 10,000 crore. Sail Chart

19. Vishal retail sells its retail business to Chennai based Sriram Group and wholesale business to PE firm TGP for Rs. 70 crore. Vishal Chart


Quotes

20. “A bank is a place that will lend you money if you can prove that you don't need it.” ~Bob Hope