Idea Cellular - All in One

 Idea Cellular - All in One

Lupin - All in One

 Lupin - All in One 

Daily News Roundup - July 30 2012

Reliance puts on hold investments in exploration as Govt delays approvals. (BL) Cairn India plans to spend over US$600 mn over the next two years to further enhance output from its Rajasthan oilfields. (BL) Ashok Leyland will be sewing up at least three overseas joint ventures in the next two to three months, as it looks to consolidate its presence in new geographies. (BL) Suzlon has redeemed in cash the two June series of foreign currency convertible bonds (FCCBs) totally valued at US$360 mn. (BL)

Sensex ends off day’s high…Broader market, PSBs fall

The Indian stock indices ended with smart gains after slipping late in Thursday's session due to F&O expiry. However, the main Indian stock indices came off their session highs in the afternoon trade due to choppiness in the European markets. Today’s gap-up opening and early rally was triggered by favourable comments from ECB president Mario Draghi, who on Thursday pledged support for the common euro currency amid growing worries about the European credit crisis and its impact on the global economy. Draghi's remarks have set off speculation about fresh monetary easing measures from the ECB, including another round of LTRO. A couple of positive economic data out of the US also helped lift the glum mood across world markets. The NSE Nifty, which had closed below the 200 DMA in the previous trading session, managed to end above the critical technical barrier. After a gap up opening, the Indian markets gained further ground before dropping below the 100-DMA level of 5,150.

Speculation on central bankers

"Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services" - Henry Ford It’s speculation time this week on what central bankers will do. The Reserve Bank of India will hold its monetary policy review meeting tomorrow. On Wednesday, the US Fed's open market committee will meet while on Thursday the European Central Bank's rate and monetary policy meeting will take place. High inflation, rising fiscal deficit and monsoon worries could well hold back the RBI from cutting rates. The rainfall from June 1 to July 25 was reportedly 22% below normal. Expectations are the monsoon will strengthen during the first week of August.

Markets to stay in green on global support

Indian markets expect a positive start backed by strong global cues. SGX Nifty is also trading 31 points Events for the day: Major companies reporting results today — Allahabad Bank, Bharat Electronics limited, Bank of Baroda, Corporation Bank, GAIL, Havells India, Indian Overseas Bank, Oriental Bank of Commerce, Syndicate Bank.

Markets to stay in green on global support

Indian markets expect a positive start backed by strong global cues. SGX Nifty is also trading 31 points Events for the day: Major companies reporting results today — Allahabad Bank, Bharat Electronics limited, Bank of Baroda, Corporation Bank, GAIL, Havells India, Indian Overseas Bank, Oriental Bank of Commerce, Syndicate Bank.

Crude gains following comments from European leaders

Prices register weekly losses though Crude oil futures extended gains on Friday, 27 July 2012 at Nymex spurred by optimism about the euro zone as two heads of state pledged to save the single currency. Light and sweet crude for September delivery rose 74 cents, or 0.8%, to settle at $90.13 a barrel on the New York Mercantile Exchange. Prices earlier seesawed between small gains and losses as investors were disappointed with data on the U.S. economy. On the week, however, oil lost 1.3%.

Bullions rise for third straight day

Prices register small weekly gains too Bullion metal prices rose on Friday, 27 July 2012 at Comex extending gains for third straight day after France and Germany pledged to support for the euro, pressuring the U.S. dollar. Prices have incresaed this week boosted by comments from European Central Bank officials. Gold for August delivery rose $2.90, or 0.2%, to settle at $1,618 an ounce on the Comex division of the New York Mercantile Exchange on Friday. For the week, gold gained 2.2%. Prices moved well off highs, however, as the session progressed. Gold earlier traded as high as $1,628.60 an ounce.

Market may edge higher in early trade on firm Asian stocks

The market may edge higher in early trade on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 31 points at the opening bell. Asian stocks rose for a third day on Monday, 30 July 2012 led by financial firms, on optimism European policy makers will support the euro. Investors will scrutinize the macro economic report to be released by the central bank at 17:00 IST today, 30 July 2012, on the eve of Tuesdays' (31 July 2012) monetary policy review. Among corporate news, Bank of Baroda and GAIL (India) unveil Q1 results today, 30 July 2012.

LIC Housing Finance

 LIC Housing Finance