Indian Market:
Nifty closed at a new 30-month high led by global cues and buying in infrastructure, realty, metal, technology, telecom, auto and select financial companies' shares. Index finished the trade at 5486 for the first time since January 18, 2008.
Car sales in the country rose 38 percent in July, but face capacity constraints, a possible rise in interest rates and supply bottlenecks as the festive season draws near, when demand for vehicles peak.
Bread and cookie makers in India, the second-biggest wheat producer, may stop buying from Australia and Ukraine as global prices surged to a 23-month high after a heat wave slashed the harvest in Russia
Nifty closed at a new 30-month high led by global cues and buying in infrastructure, realty, metal, technology, telecom, auto and select financial companies' shares. Index finished the trade at 5486 for the first time since January 18, 2008.
Car sales in the country rose 38 percent in July, but face capacity constraints, a possible rise in interest rates and supply bottlenecks as the festive season draws near, when demand for vehicles peak.
Bread and cookie makers in India, the second-biggest wheat producer, may stop buying from Australia and Ukraine as global prices surged to a 23-month high after a heat wave slashed the harvest in Russia
Global Cues:
Asian stock markets recovered after initial losses triggered by a poor US jobs report that was the latest sign the US economic recovery is weakening. The key benchmark indices in China, Taiwan, Indonesia, South Korea were up by between 0.11% to 0.79%.
European stocks advanced for the first time in three days as basic-resource producers and energy companies climbed with commodity prices. U.S. index futures rose, while Asian equities were little changed. European markets like France's CAC, Germany's DAX and Britain's FTSE were trading 1.3-1.55% higher.
US stocks fell on Friday 6 August 2010 after government data showed a larger-than-expected drop in July payrolls, giving investors a stark reminder the economic recovery remains slow. But, the stocks sharply pared back losses that had driven the major indexes down 1% or more to their session lows.
0 comments:
Post a Comment