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Friday, November 12, 2010

Share Market Updates

Nifty closed below the 6200 - an psychologically important level, dragged down by oil & gas, technology, realty, financial, capital goods, telecom and FMCG companies' shares, ahead of G-20 meet today. Even the index tested 6180 - a key support level in last one hour of trade.

Car sales in India rose an annual 38 percent in October to record levels, as festive season demand combined with the rapidly expanding economy to pull buyers into showrooms.

Food inflation is caused by shortage of food and supply. In the medium term, we need to ensure that supply is increased through higher production to curb inflation," Rangarajan said.

Global Share Market Update

Most Asian markets rose on Thursday, after Wall Street managed slight gains after improving economic data. The key benchmark indices in China, Hong Kong, Japan,Singapore and Taiwan rose by between 0.06% to 0.84%. But, key benchmark indices in Indonesia and South Korea fell by between 0.09% to 0.47%.

The Dow Jones industrial average rose 0.1% to close at 11,357.04, recovering from losses earlier in the day, while the Standard & Poor's 500 index added 0.4% to 1,218.71.Stocks were checked by concerns of a backlash over the U.S. Federal Reserve's plan to lower interest rates.

Chinese inflation sped to a 25-month high in October and bank lending blew past expectations, highlighting the challenge faced by Beijing as it battles to keep a lid on price pressures.

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