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Thursday, September 2, 2010

Stock Market Tips and Review

Indian Market:

Nifty closed with modest losses, after showing smart recovery in last half an hour of trade - led by FMCG, auto, select telecom and technology companies' shares.

The rupee slipped to its lowest level in more than a month on Tuesday, weighed by losses in local shares and other Asian peers. Growth data due around 11 am is expected to set the trend.

Under the Direct Taxes Code Bill, 2010 tabled in the Lok Sabha by Finance Minister Pranab Mukherjee and referred to the Select Committee of Parliament for scrutiny, the government has sought to raise the income tax exemption limit from Rs 1.6 lakh to Rs 2 lakh while retaining a host of incentives for individuals.





Global Cues:

Asian stock markets were lower Tuesday, 31 August 2010, after Wall Street's drop on Monday, 30 August 2010, with the Japanese market falling sharply as investors continued to fret about the yen's strength. Soft US data on Monday.

U.S. stock futures fell, indicating benchmark indexes will extend their selloff in August, as investors awaited reports on housing and consumer confidence that may cast further doubt on the economic recovery.

Euro zone inflation slowed as expected in August but unemployment was flat for the fifth month running in July as rising employment in powerhouse Germany was offset by fewer jobs in Belgium, Spain and Ireland.

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