Indian Market:
Nifty closed the session on a flat note, after trading in a narrow range of 5370-5399 for the whole day. PSU oil & gas, capital goods, telecom and realty companies' to close with negative bias.
Indian Oil Corp., the country's second-biggest refiner, plans to acquire oilfields in Africa as part of a $1 billion overseas investment plan, its chairman said.
Mid-cap Indian drug makers are likely to post healthy quarterly earnings on rising sales across geographies but a strong rupee against the dollar through two-third of April-June period might shave off margins for some.
Global Cues:
Asian stocks were mixed on Thursday after early fall triggered by concerns about the global economic recovery. The latest data showed US retail sales declined. The Federal Reserve cut its growth forecast for the US economy. The key benchmark indices in China,Singapore, Hong Kong, Taiwan rose by between 0.09% to 0.44%.
US stocks ended flat on Wednesday, 14 July 2010 after the Federal Reserve suggested additional measures may be needed to combat a weakening economy. Minutes of the Fed's June meeting showed officials are more concerned with the pace of economic recovery.
China's economic growth eased in the second quarter after the government succeeded in tempering credit expansion, investment spending and property speculation.
Nifty closed the session on a flat note, after trading in a narrow range of 5370-5399 for the whole day. PSU oil & gas, capital goods, telecom and realty companies' to close with negative bias.
Indian Oil Corp., the country's second-biggest refiner, plans to acquire oilfields in Africa as part of a $1 billion overseas investment plan, its chairman said.
Mid-cap Indian drug makers are likely to post healthy quarterly earnings on rising sales across geographies but a strong rupee against the dollar through two-third of April-June period might shave off margins for some.
Global Cues:
Asian stocks were mixed on Thursday after early fall triggered by concerns about the global economic recovery. The latest data showed US retail sales declined. The Federal Reserve cut its growth forecast for the US economy. The key benchmark indices in China,Singapore, Hong Kong, Taiwan rose by between 0.09% to 0.44%.
US stocks ended flat on Wednesday, 14 July 2010 after the Federal Reserve suggested additional measures may be needed to combat a weakening economy. Minutes of the Fed's June meeting showed officials are more concerned with the pace of economic recovery.
China's economic growth eased in the second quarter after the government succeeded in tempering credit expansion, investment spending and property speculation.
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