T20 April 5th-2011

Global Markets

1. S&P 500 was being propelled on expectations of record profits to be announced by companies. SP Chart

2. US Dollar: Experiencing weakness as rising cost of oil puts pressure on the dollar. US Dollar Chart

3. Crude prices see a sharp rise as Libyan crisis escalates and political instability spreads to Nigeria and Yemen. Crude Oil Chart

4. Gold prices steady on the back on good demand. Gold Chart


Economy

5. Relief in sight as food inflation could be seen easing to 8% by end-March, 2011 on the back of a good winter harvest.

6. India is not going to grow fast enough according to credit rating agency Fitch as it downgraded Indian economy’s growth projection to 8.3% in 2011-12 on account of high inflationary pressure.

7. India's exports in February rose an annual 49.7% to USD 23.6 billion, while imports for the month rose 21.2% on the year to USD 31.7 billion.

8. Indian economy on solid ground as March factory Purchasing Managers Index (PMI) was at a steady 57.9, bolstered by the strong pace of expansion in India's manufacturing sector steadied in March, helped by sustained new orders and output.

9. Companies are rejoicing as in order to boost FDI flows into the country the government provided greater flexibility to Indian firms to raise overseas capital, gave freedom to foreign companies to invest in the same field outside their JV without the consent of their JV partner and allowed Indian companies to issue equity against import of capital goods.


Indian Markets

10. Nifty experiencing a good positive run as on steady growth in Indian manufacturing sector. Nifty Chart

11. FIIs purchased shares worth a net Rs. 9,268.8 cr from March 1st to Date, 2011; Domestic funds bought shares worth a net Rs 34,895.2 cr for the same period.


Sector

12. Airlines win preliminary battle as Supreme Court defers implementation of new ground handling policy, citing that it will affect airlines efficiency.

13. Cheque payments are about to get costlier as the RBI has allowed banks to levy higher service charges for clearing of cheques, especially the high value and outstation cheques.

14. Docomo to invest 800 Crore in Tata Teleservices through a rights issue, the money will be used to expand the company’s network coverage and also strengthen its 3G network.

15. Garment Manufacturers have a reason to be happy as government in considering a rollback on its 10% excise duty on branded garments.

16. Iron ore exports from India fell 18% in April- Feb period on the back of a continued ban on shipments from key mining state Karnataka and March figures are not expected to be better as Chinese buyers wait for a global price fall.


Stocks

17. Smartlink Network Systems Thursday said it will sell its Digilink business to Schneider Electric India for Rs 503 crore in cash. Smartlink Chart

18. Welspun Corp gets pipe orders worth RS 1,182 Cr, which it will execute over the year. Welspun Chart

19. International Paper is going to buy 53.5% of AP paper, aims to own 75% of the company by September, 2011. AP-Paper Chart


Quotes

20. “Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale.” ~Zig Ziglar