T20 23rd March 2011

Global Markets

1. S&P 500 looking positive on the back of good economic news in relation to company numbers and a decrease in unemployment figures. S&P Chart

2. US Dollar: Negative trend expected to continue as global crude prices put pressure on USD. Dollar Chart

3. Crude prices on the rise again as tensions in Libya and the Middle East rise. Crude Oil Chart

4. Gold remains a safe haven as global unrest unfolds. Gold Chart

5. Nikkei witnessed a dramatic fall due to the earthquake and Tsunami, but this week saw a positive movements as investors saw buying opportunities at lower levels.NIKK Chart


Economy

6. Outlook for the Indian economy is not very positive is crude prices and inflation continues to rise, could prevent government from achieving its target growth rate of 9%.

7. Food inflation eases to 9.42%, as headline wholesale inflation grew from 8.23% to 8.31%.

8. Advance tax rises 30% in Jan-March, 2011 which is a key indicator of the robust health of the Indian Economy.

9. Exports from SEZ up 46.7% during Apr- Dec of current fiscal year.

10. Government introduces General sales tax (GST) bill in parliament which would replace a number of taxes being levied by the central and state governments.



Indian Markets

11. Nifty remains range bound. Nifty Chart

12. FIIs purchased shares worth a net Rs. 1,371.3 cr from start of the month (March) to Date, 2011; Domestic funds bought shares worth a net Rs 4344.6 cr for the same period.


Sector

13. State oil firms see red as they are losing Rs. 4.08 BN in revenues daily.

14. Automobile firms are positive on the future as they expect the industry to grow by 15% to 17% in FY12.

15. Jet airways and Jet lite combined emerged as the Indian aviation sector market leader. Jet combined has a market share of 26.1%, Kingfisher is second with 19% and Indigo is third with 18.7%.

16. Healthcare companies are happy as the government rolls back the 5% service tax imposed on treatment in private hospitals.



Stocks

17. Ranbaxy is feeling the heat as Mylan sue the US FDA to block lipitor launch. Ranbaxy Chart

18. RIL announced that gas output from key fields may fall by as much as 12% next year due to complicated operating procedures. RIL Chart

19. Mahindra Satyam slapped with Rs 616 crore Income Tax bill on fictitious income. Mahindra Satyam Chart


Quotes

20. “There are three faithful friends - an old wife, an old dog, and ready money.” –Benjamin Franklin.