Market Review : Stocks Strategy

Indian Market:

Nifty slipped into red in last one hour of trade and closed below an important pschological level of 5000 on back of fall in European markets. The markets were consolidated in the first half of trade after Monday's sharp sell-off.

The 30-share BSE Sensex closed at 16,617.10, down 163.97 points or 0.98% and the 50-share NSE Nifty fell 46.90 points or 0.93% to settle at 4,987.10. The Nifty June futures ended at 22 points discount, as per provisional data.

A good monsoon in India may ease the country's inflationary pressures, allowing the central bank to continue its moderate pace of policy tightening, Deputy Governor Subir Gokarn said today.

Punjab National Bank Ltd. hired four banks to help it borrow $100 million in three-year loans.

Global Cues:

Asian stocks higher on Tuesday after Federal Reserve Chairman Ben Bernanke said the US economic recovery is intact. The key benchmark indices in China, South Korea, Singapore, Japan, Indonesia, Hong Kong rose by between 0.09% to 0.88%. But, Taiwan's Taiwan Weighted fell 0.21%.

European stocks fell for a third day as investors continued to shun the region's assets on concern the sovereign debt crisis will harm economic growth. U.S. futures fluctuated and Asian shares advanced.

US Stocks fell on Monday 7 June 2010, taking S&P 500 to its lowest close in seven months, as industrials and technology shares fell. The Dow Jones Industrial Average lost 115.48 points, or 1.16% to 9,816.49.

European Union governments vowed to police national budgets at an early stage and introduce a wider range of sanctions on excessive deficits to prevent a repeat of the Greece-fueled debt crisis that has undermined the euro.