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Tuesday, November 2, 2010

Indian and Global Share Market analysis

Equity benchmarks started November on a strong note led by banks, telecom, realty and capital goods ahead of credit policy tomorrow. The Sensex added more than 300 points and the Nifty successfully settled above the 6100 mark. Overall it was a good start for the week ahead of major events domestically as well as internationally.

Inflation in India is a matter of concern, but is expected to moderate to acceptable levels, Finance Minister Pranab Mukherjee said on Monday.

Sun Pharmaceutical Industries Ltd., the nation's biggest drugmaker by market value, gained to a record after its profit climbed 12 percent on higher demand for generic medicineses.

Global Markets:

Asian shares edged higher on Monday on strong manufacturing data from China. The key benchmark indices in China, Hong Kong, Singapore, Taiwan, South Korea, and Indonesia rose between 0.36% and 1.79%. But, Japan's Nikkei 225 index fell 0.18% as the yen's strength weighed on exporters.

U.S. stock-index futures climbed, with the Standard & Poor's (S&P) 500 Index poised to continue last month's rally, after a report showed Chinese manufacturing expanded at the fastest pace in six months.

The US gross domestic product grew at an annual rate of 2% in the third quarter, up from 1.7% the previous quarter. Consumer spending increased 2.6% in the third quarter, accelerating from a 2.2% rise in the second.

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