A relief is in store this morning though it need not convert into a rally anytime soon. The global markets are breathing a bit easy. A speech by Federal Reserve chairman Ben Bernanke's tomorrow, some solution to Portugal's economic crisis are among the positive expectations. The slowdown in China's economy remains a concern. China’s inflation rose in June even as the decline in factory-gate prices extended its longest streak in a decade.
The outlook is a positive opening. A lot of stock-specific activity will pick up ahead of the results. The rupee, which breached the 61 to the dollar mark on Monday, will remain in focus. The RBI is believed to have intervened to stem the slide. Prime Minister Manmohan Singh will meet industry leaders on July 29 to discuss the rupee.
Mutual fund numbers are encouraging as investors pumped in Rs 37, 435 crore in various mutual fund schemes in May taking the total funds mobilisation during the first two months of the current fiscal to Rs 1.44 lakh crore, says a report. It may be recalled that in April there was a net outflow of Rs 1.06 lakh crore.
The Dow Jones and S&P 500 added around half a percent each while the Nasdaq was marginally higher. Asian stocks are mixed. Japan's Nikkei 225 is up 1.5% higher and Hong Kong's Hang Seng index has gained around half a percent. South Korea's Kospi index and China's Shanghai index are marginally higher.
China’s consumer price index rose 2.7% from a year earlier, the National Bureau of Statistics said.
Ramco Systems’ could see some profit booking today. The stock had risen on rumors that a major IT company is looking at buying stake. The company has denied the rumour.
Investment proposals by domestic and foreign businesses have dried up by a huge 75% since March last year, Assocham said. According to the chamber, a total of 697 proposals worth Rs1.4trn were made by foreign and domestic investors during 2012-13. This was, however, much lower than the 2,828 investment proposals worth Rs6trn received during FY12.
India’s gold imports in June have fallen 80% to about 32 tonnes. While the drop was sharp against the record May imports of 162 tonnes, compared to June 2012 level it is a 36% drop.
The outlook is a positive opening. A lot of stock-specific activity will pick up ahead of the results. The rupee, which breached the 61 to the dollar mark on Monday, will remain in focus. The RBI is believed to have intervened to stem the slide. Prime Minister Manmohan Singh will meet industry leaders on July 29 to discuss the rupee.
Mutual fund numbers are encouraging as investors pumped in Rs 37, 435 crore in various mutual fund schemes in May taking the total funds mobilisation during the first two months of the current fiscal to Rs 1.44 lakh crore, says a report. It may be recalled that in April there was a net outflow of Rs 1.06 lakh crore.
The Dow Jones and S&P 500 added around half a percent each while the Nasdaq was marginally higher. Asian stocks are mixed. Japan's Nikkei 225 is up 1.5% higher and Hong Kong's Hang Seng index has gained around half a percent. South Korea's Kospi index and China's Shanghai index are marginally higher.
China’s consumer price index rose 2.7% from a year earlier, the National Bureau of Statistics said.
Ramco Systems’ could see some profit booking today. The stock had risen on rumors that a major IT company is looking at buying stake. The company has denied the rumour.
Investment proposals by domestic and foreign businesses have dried up by a huge 75% since March last year, Assocham said. According to the chamber, a total of 697 proposals worth Rs1.4trn were made by foreign and domestic investors during 2012-13. This was, however, much lower than the 2,828 investment proposals worth Rs6trn received during FY12.
India’s gold imports in June have fallen 80% to about 32 tonnes. While the drop was sharp against the record May imports of 162 tonnes, compared to June 2012 level it is a 36% drop.
No comments:
Post a Comment