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Wednesday, July 21, 2010

Free Indian Share Market Review and Tips


Indian Market:

Nifty closed marginally lower on Tuesday, after witnessing consolidation for the sixth consecutive session around 5350-5400 level. Indices may be eyeing for earnings of heavyweights.

Software services firm NIIT Technologies Ltd said on Tuesday its quarterly net profit more than doubled although currency risks remained a challenge in coming quarters.

The Asian Development Bank urged the region's economies, including China, to allow greater currency strengthening to help cope with capital inflows and enable a more gradual pace of interest-rate increases that can support growth.




Global Cues:

Most Asian stocks rose on Tuesday as banks and resource companies got support from Wall Street gains overnight. The key benchmark indices in Hong Kong, China, Taiwan and Indonesia were up by 0.15% to 1.28%. But, the key benchmark indices in South Korea and Japan fell by between 0.27% to 1.2%.

US stocks rose on Monday, spurred by optimism ahead of earnings from key technology companies and after Dow component Boeing announced strong orders. The Dow Jones Industrial Average added 56.53 points, or 0.56% to 10,154.43. Dow and Nasdaq futures were down nearly 1% each.

British mobile email software developer Synchronica said it agreed to buy Canadian peer iseemedia for about 5.3 million pounds ($8.1 million) in an all-stock deal to expand in India and South-East Asia.

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