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Tuesday, July 13, 2010

Indian Stock Market Review and Research Reports (July 13, 2010)

Indian Market:

Nifty rallied for third consecutive day and closed at 30-month high, led by buying interest in technology, financial, realty, metal and select capital goods companies' shares.

Cash conditions in the banking system will return to comfortable levels by the end of July, the chairman of State Bank of India the country's largest lender, said on Monday.

India's industrial output rose at its slowest pace in seven months in May, but the slower-than-forecast growth is not expected to stop the Reserve Bank of India (RBI) from raising interest rates later this month.





Global Cues:

Asian stocks kicked off a new week on Monday with modest gains, after Wall Street closed out its best week in a year on Friday, 9 July 2010. Japan's stocks wobbled after the government lost an upper house election at the weekend. The key benchmark indices in Hong Kong, Indonesia, China, Taiwan, Singapore, Japan and South Korea rose by between 0.07% to 0.41%.

Wall Street closed out its best week in a year on Friday 9 July 2010, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season. The Dow Jones Industrial Average was up 59.04 points

Britain's economy grew at the same pace as previously estimated in the first three months of this year, but the recession that preceded it was deeper than previously thought, the Office for National Statistics said on Monday.


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