T20 March-29th

Global Markets

1. S&P 500 was on a positive trend driven by optimism regarding company earnings. SP Chart

2. US Dollar: Strengthened after US consumer spending for the month of February was better than forecasted. US Dollar Chart

3. Crude prices saw a dip in small dip in prices on news that Libya may begin oil exports in less than a week. Crude Oil Chart

4. Gold prices dip on the back of profit booking and subdued market demand. Gold Chart


Economy

5. India’s marine exports to Japan are expected to take a hit due to the earthquake, tsunami and nuclear crisis.

6. Government exempt coking coal from customs duty in an attempt to reign in prices, but immediate impact on steel prices is not expected.

7. India’s Forex reserves up $ 1.67 Bn to $ 303.51 Bn due to healthy increase in foreign currency assets.

8. Finance minister is confident that India will achieve 9% growth rate in coming years due to financial sector reforms, revamping of direct and indirect tax structures and the introduction of the Goods an services tax (GST).

9. Government worried about oil supplies as two thirds for the country’s oil imports are from the turmoil ridden Northern Africa and the Middle East.


Indian Markets

10. Nifty experiences steep rise. Nifty Chart

11. FIIs purchased shares worth a net Rs. 7,748.3 cr from start of the month (March) to Date, 2011; Domestic funds bought shares worth a net Rs 36,188.6 cr for the same period.


Sector

12. Global oil majors showed little interest in Indian oil and gas exploration licensing bid due to dim track record of commercial discoveries and sluggish bureaucracy.

13. Synthetic rubber industry in India is booming as demand rose by 13% to outstrip supply.

14. Indian Government looks keen to protect Indian auto companies from cheaper imported vehicles from Europe. EU states are pushing for reduction in duty which will make cars imported from Europe cheaper in India.

15. Government is working on a scheme that will offer incentives to domestic organised retailers if they tie up with farmer co-operatives in order to reduce wastage and check volatility in food prices.

16. PE Giants Goldman Sachs, Ashmore, Everstone and a few other funds are coming together to form a Non Banking Finance Company (NBFC) which will focus on corporate lending.


Stocks

17. Tata Motors becomes first Indian auto company to manufacture 1 Lakh commercial vehicles in a financial year. TATA MOTORS Chart

18. JSW Energy and GVK Power could join hands to bid for coal assets of Australia’s Hancock Coal which is valued at $ 2.7 Billion. JSW Energy Chart

19. Cargill India ink deal to acquire Marico’s sunflower oil brand Sweekar for Rs. 60 Crore. Marico Chart


Quotes

20. “The best way for a person to have happy thoughts is to count his blessings and not his cash” ~Author Unknown