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Saturday, September 08, 2012
Markets maintain gains on all round buying
The Indian markets remain in green amid rangebound session with a positive bias. All round buying led the market to trade higher. The NSE Nifty has touched the 5350 level. Individual stocks like Cipla gained as the company won patent case against Roche, which filed suit against the company on drug Tarceva in 2008. ITI surged as the government said the Department of Telecommunications has prepared a plan worth Rs4,156 crore for revival of the company. All the sectors are trading in green, barring BSE Power with marginal losses. At 12.40 pm, the Sensex was trading at 17762.83, 79 points higher and the Nifty was trading at 5363.40, up by 21 points.
Weekly Newsletter - Sep 8 2012
Indian stock indices gained 1.5% during the week, mainly due to a powerful rally on Friday, after the ECB President delivered on the promise made by him recently in its fight against the three-year-old debt turmoil. It may be recalled that Indian indices had snapped a four-week winning streak last Friday on worries that policy paralysis will continue to be a major headwind for the Indian economy and markets. In fact, India is at a risk of losing its investment grade debt rating if the Centre fails to announce any significant reform(s) in the coming days. That could partly offset the positive vibrations generated by the ECB monetary stimulus and the impending QE3 from the Federal Reserve. Next week will be an important one again, as markets will react to the latest IIP and WPI inflation numbers. Globally, the key event to keep on one’s radar will be the two-day FOMC policy meeting. ECB President Draghi has kept its promise on monetary stimulus. Will his US counterpart do an encore on QE? We will have to wait and watch.
Weekly Stock Picks - Sep 8 2012
Buy BF Utilities Buy REC Buy Godrej Industries Buy Tata Motors Buy Bank of India
Markets end 1st week of September with marginal gains
It was a volatile week for the Indian markets, with the Sensex unexpectedly closing 1.83% higher and the Nifty up by 1.90%. The markets gained marginally for the first week of September after a fall in the previous week. Major Headlines of the week: July exports slips 14.8%, Imports falls 7.6% Manufacturing growth slows down to 9 month low Fin Min may raise loan limit on FCNR deposits Planning Commission expects 8.2% growth in 12th Five year Plan No immediate plan to hike fuel prices: Jaipal Reddy ECB keeps key rates unchanged at 0.75%
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