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Thursday, June 17, 2010

Share Market Review and Trading strategy

Indian Market:

Nifty remained in a consolidation mode for second consecutive day but it closed in a positive terrain for sixth straight day. Global cues were also quite supportive today; Asian markets ended 0.9-1.8% higher.

The Reserve Bank of India (RBI) will continue to exit from its loose monetary policy as the current level of policy instruments is not fully aligned with the state of the economy, a deputy governor was quoted as saying.

IBM said on Tuesday it plans to expand its software and services business by acquiring Coremetrics, a privately held web analytics software company that helps companies improve their marketing.

Cipla Ltd., the Indian drugmaker that built a $1 billion business making generic HIV treatments.

Global Cues:

Asian stocks extended recent gains as a report showing growth in New York manufacturing boosted confidence that a recovery in world's biggest economy will increase corporate earnings. The key benchmark indices in Indonesia, Japan, South Korea, and Singapore were up by between 0.63% to 1.53%.

US markets stocks rallied on Tuesday as the euro gained against the dollar after a number of successful European debt auctions eased investor concerns about the euro zone's solvency crisis. The Dow Jones Industrial Average advanced 2.15% or 213.88 points at 10404.77.

Asian currencies advanced, led by South Korea's won, on optimism data this week will show the global economy is improving, boosting the appetite for emerging- market assets.

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