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Wednesday, December 15, 2010

Today's Stock Market Report

Indian Market:

Nifty ended on a positive note after weak start in the opening bell. The pullback rally which started on Friday further gained strength today. The Nifty is now slowly inching towards 6000 mark after testing lows of 5740 on Friday.

Food inflation slowed to 9.41 percent from 14.1 percent in October. Food prices, which make up 14.34 percent of the index.

India's government may buy more bonds from the market to ease the worst cash crunch in 10 years.

Global Cues:

Asian stocks eked out small gains Tuesday, 14 December 2010 as investors digested news that President Barack Obama's tax-cut package had gained enough votes in the Senate. The key benchmark indices in Hong Kong, Indonesia, Japan, South Korea and Taiwan rose by between 0.01% to 0.29%. The key benchmark indices in China and Singapore fell 0.09% and 0.12% respectively.

U.S. stocks erased gains in the final hour of trading as the Senate started to vote on President Barack Obama's tax-cut agreement with Republicans and investors turned their attention to the Federal Reserve meeting .

Japan's industrial output fell 2.0 percent in October, revised data showed on Tuesday, down for the fifth straight month due to cooling overseas demand.

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