Indian Market:
Nifty traded above 5300 since the beginning of trade but profit booking in last half an hour of trade forced index to end below that level. It has been in range of 5200-5300 for last three weeks, as a part of consolidation.
India's car sales growth will probably slow by half this year as new emissions rules push up vehicle prices and interest rates increase.
SEBI issued a circular saying that the exposure margin would be higher of 5% or 1.5 times the standard deviation of the notional value of the gross open position in single stock futures and gross short open position in stock options in a particular underlying. The revised exposure margin requirement would be effective from 15 July 2010.
Global Cues:
Asian stocks surged on Thursday as US retail sales grew at the fastest pace in four years and as investors speculated European banks will pass stress tests. The key benchmark indices in China, Hong Kong, Indonesia, Taiwan, Singapore, Japan and South Korea rose by between 0.02% to 2.67%.
US stocks logged their best one-day gain in about six weeks on Wednesday, 7 July 2010 after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level. The Dow Jones Industrial Average rose 274.66 points, or 2.82% to 10,018.28. The Standard & Poor's 500 Index gained 32.21 points, or 3.13% to 1,060.27.
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
Nifty traded above 5300 since the beginning of trade but profit booking in last half an hour of trade forced index to end below that level. It has been in range of 5200-5300 for last three weeks, as a part of consolidation.
India's car sales growth will probably slow by half this year as new emissions rules push up vehicle prices and interest rates increase.
SEBI issued a circular saying that the exposure margin would be higher of 5% or 1.5 times the standard deviation of the notional value of the gross open position in single stock futures and gross short open position in stock options in a particular underlying. The revised exposure margin requirement would be effective from 15 July 2010.
Global Cues:
Asian stocks surged on Thursday as US retail sales grew at the fastest pace in four years and as investors speculated European banks will pass stress tests. The key benchmark indices in China, Hong Kong, Indonesia, Taiwan, Singapore, Japan and South Korea rose by between 0.02% to 2.67%.
US stocks logged their best one-day gain in about six weeks on Wednesday, 7 July 2010 after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level. The Dow Jones Industrial Average rose 274.66 points, or 2.82% to 10,018.28. The Standard & Poor's 500 Index gained 32.21 points, or 3.13% to 1,060.27.
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
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