On Fri, Jun 25, 2010 at 10:29 AM, Hardik Shah <[email protected]> wrote:
> *By Rutam Vora > > *Amid mixed global cues backed by US Federal Reserve keeping the key > interest rates unchanged at historic lows close to zero. The FOMC-meet on > Wednesday pushed mixed sentiments on the US bourses on Wednesday, later it > was reflected on the Indian bourses with key benchmark index, Sensex posting > early gains on Thursday, June 24, 2010. > > The gains on the Indian bourses were led by metal and FMCG stocks. The > sectoral index, BSE Metals gained by close to 1% to 15387.31 points, while > BSE FMCG index too rose by close to 1% at 3232.18 in the morning trades > today. Other gainers included Capital Goods stocks as the BSE CG index > posted early gains of 1.21% at 14,674.59 points. The benchmark index, Sensex > gained by 0.35% to 17818 points in the morning trading hours on Thursday. > > *‘Monsoon Wading’ for FMCG Stocks?* > > The upbeat mood in the FMCG stocks is seen ahead of the declaration on the > wholesale price index, inflation data for the year through 12 June 2010, > including food price index, the primary articles index and the fuel price > index today. > > Leading FMCG stocks including ITC Ltd (BOM:500875) and Ruchi Soya > Industries (BOM:500368) gained momentum at the early trading hour on the > Bombay Stock Exchange (BSE) as each stock rose by over 1% on Thursday. > Britannia Industries Ltd (BOM:500825) gained by close to 1%. > > Prices of food articles have remained a key concern for the industry as > well as consumers. Recently, milk prices in Kerala have been hiked by Rs.3 a > litre to Rs.23 because of rise in the price of fodder. On the other hand > monsoon being crucial for the agro produces and the overall food price > index, all eyes at a good monsoon ahead. > > However, India’s MET Department today mentioned that June 1-23 monsoon > rains were down 11% from normal as monsoon progress seems to have stalled. > Monsoon rains in India have been 11% lower than the long-term average until > now due to a nearly one-week delay in its progress, the director general of > the Indian Meteorological Department said Thursday. Monson may resume > progress by early next week. > > *Metal Stocks regain shine > * > Having witnessed sustained losses for two consecutive trading sessions, > metal stocks have returned back to positive territory on strong global cues. > > > London copper jumped more than 2% on Thursday, lifting Shanghai futures > aided by strong Japan output data. Copper futures on LME were up early > Thursday as dollar fell on speculation that Federal Reserve will keep > interest rates low. > > The Committee's decision to stick with its low-interest-rate policy was > widely expected, given the persistently high unemployment rate and > continuing weakness in housing and consumer spending. > > Metal stocks on Indian bourses help key benchmark indices inch upwards to > positive territory in early trading session on Thursday. Mining majors > including Gujarat NRE Coke Ltd (BOM:512579) and NMDC Ltd (BOM:526371) gained > by 2.65% and 1% respectively, while other metal stocks including Jai Corp > Ltd (BOM:512237) and Sesa Goa Ltd (BOM:500295) rose 1.2% and 1.6% > respectively. > > Copper majors including, Sterlite Industries (India) Ltd (BOM:500900) and > Hindustan Copper Ltd (BOM:513599) gained close to 1.5% each in the morning > trading session on the BSE today. Nissan Copper Ltd (BOM: 532789) zoomed up > by over 4% on the BSE on Thursday. > > Volatility is expected to remain high on Indian bourses today owing to > traders’ roll over positions in the derivatives segment ahead of the expiry > of the near-month June 2010 derivatives contracts today, 24 June 2010. > > -- > Regards > > Hardik Shah > > -- > You received this message because you are subscribed to the Google Groups > ""GLOBAL SPECULATORS"" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to > [email protected]<globalspeculators%[email protected]> > . > For more options, visit this group at > http://groups.google.com/group/globalspeculato<http://groups.google.com/group/globalspeculators?hl=en> WHT IS THE USE OF SENDING LATE NEWS LETTRS TO GROUP MEMBERS TRY TO RECTIFIE IT AT THE EARLIEST -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
