Indian Market:
Equity benchmarks witnessed consolidation throughout the session on Wednesday, ahead of F&O expiry tomorrow for the month of June. First half of trade was negative with modest losses on weak global cues and even Nifty struggled at 5300 level. However, the Nifty managed to hold 5300 in last couple of hours.
Finance Minister Pranab Mukherjee said on Tuesday he is concerned about double digit inflation but believes it can be tamed by a strong harvest and increased output of key food items.
India's monthly headline inflation could ease to below 10 percent in June from a year ago, the federal government's chief statistician said on Wednesday.
Global Cues:
Asian stocks fell on Wednesday, 23 June 2010, after an unexpected decline in US home sales raised concern about the strength of growth in the world's largest economy. The key benchmark indices in China, Hong Kong, Japan, Indonesia, South Korea, Singapore.
Apple sold its three millionth iPad 80 days after its introduction in the US and just two days before the release of the company's new iPhone 4 for which there have already been 600,000 pre-orders.
Bank of England policy maker Andrew Sentance made the first push for an interest-rate increase in almost two years this month, opening a split among officials on the strength of the economic recovery.
Equity benchmarks witnessed consolidation throughout the session on Wednesday, ahead of F&O expiry tomorrow for the month of June. First half of trade was negative with modest losses on weak global cues and even Nifty struggled at 5300 level. However, the Nifty managed to hold 5300 in last couple of hours.
Finance Minister Pranab Mukherjee said on Tuesday he is concerned about double digit inflation but believes it can be tamed by a strong harvest and increased output of key food items.
India's monthly headline inflation could ease to below 10 percent in June from a year ago, the federal government's chief statistician said on Wednesday.
Global Cues:
Asian stocks fell on Wednesday, 23 June 2010, after an unexpected decline in US home sales raised concern about the strength of growth in the world's largest economy. The key benchmark indices in China, Hong Kong, Japan, Indonesia, South Korea, Singapore.
Apple sold its three millionth iPad 80 days after its introduction in the US and just two days before the release of the company's new iPhone 4 for which there have already been 600,000 pre-orders.
Bank of England policy maker Andrew Sentance made the first push for an interest-rate increase in almost two years this month, opening a split among officials on the strength of the economic recovery.
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