RSS

Saturday, June 19, 2010

Market Review - 19th June, 2010

Indian Market:

Nifty snapped seven-day winning streak and closed marginally lower, dragged by both Reliance groups' stocks post no aggressive plans announced by Mukesh Ambani at Reliance Industries' (RIL) 36th Annual General Meeting (Annual General Meeting).

Telecom, private banking and metal companies' shares were other shares, which put pressure on the markets. However, capital goods, FMCG, technology, PSU banking and select healthcare companies' shares helped the markets.

India's May exports stood at $16.1 billion,.Imports for the month were at $27.4 billion Trade Secretary Rahul Khullar said on Friday, he said, widening the country's trade deficit to $11.3 billion.

Standard Chartered Private Equity plans to invest in three to four Indian companies by the end of this year and sees opportunities in acquisition financing in Asia's third-largest economy.

Global Cues:

Asian markets were trading mixed as gold prices near record high boosted producers of the metal while a weaker dollar dragged down Japanese car makers. The key benchmark indices in Indonesia, China, Singapore, Hong Kong were up by 0.11% to 0.91%.

US markets staged a late comeback on Thursday, to end with modest gains despite a much worse-than-expected reading on manufacturing activity in the Philadelphia area and a pickup in jobless claims. The Dow Jones Industrial Average rose 24.71 points, or 0.2%, to 10434.17.

The dollar may reach 93.50 against Japan's currency should it hold above a so-called support area between 90.97 and 90.85 yen.
 

0 comments:

Post a Comment

 
Real Time Web Analytics