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Tuesday, November 9, 2010

Indian Share Market outlook and Review

Indian Market:

Indian shares provisionally closed lower on Monday, led by losses in financials, on profit booking by traders after stocks rose close to a record high early.

President Barack Obama on Monday said the United States has agreed to remove India from an entities list that restricted trade.

U.S. Treasury Secretary Timothy F. Geithner said India is demonstrating economic dynamism that comes from promoting internal growth while allowing currency flexibility, even as he reiterated the need for key emerging economies to move to market-determined exchange rates.

Global Cues:

U.S. Treasury Secretary Timothy F. Geithner refrained from pushing for current-account targets and China hailed the potential effect of Federal Reserve easing at a finance ministers' meeting days before the Group of 20 summit.

Asian stocks rose, with the regional benchmark index climbing for a sixth day, as exporters advanced after the U.S. added more jobs than forecast. Financial companies declined amid renewed uncertainty about Greece and Ireland's sovereign debt problems.

Leading economies should consider readopting a modified global gold standard to guide currency movements, said World Bank president Robert Zoellick.

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