RSS

Wednesday, October 27, 2010

Equity Market Review and Tips

Equity benchmarks retreated on Tuesday, after witnessing a rally in previous session. Indices closed a volatile session with modest losses on the back of profit booking. Even weak European cues weighed on the markets to some extent.

Tata Motors Ltd., the owner of Jaguar Land Rover, had its credit rating raised by Moody's Investors Service for the second time this year as sales of its vehicles increased.

ArcelorMittal, the world's largest steel maker, forecast extended softness for the sector on Tuesday with muted demand and a margin squeeze set to depress profit at the end of 2010 after a weak third quarter.

Global Cues:

Asian stocks were mixed in early trading Tuesday with Japan's Nikkei index under pressure as the yen hovered near a 15-year high against the dollar. The Nikkei Average was down 0.19%. The key benchmark indices in Singapore and Hong Kong fell by between 0.11% to 0.19%. The key benchmark indices in South Korea, Taiwan, Indonesia and China rose by between 0.05% to 0.29%.

US markets closed higher on Monday, 25 October 2010, on growing expectations that the Federal Reserve will take steps to boost the US economy. In macro news, September existing-home sales rose more than expected.

Restrictions on exports create unavoidable distortions and global institutions should work together for a coherent approach to raw materials, WTO Director-General Pascal Lamy said on Tuesday.

0 comments:

Post a Comment

 
Real Time Web Analytics