Market may edge higher in Asian stocks firm

The market may edge higher on strong Asian shares rose as European leaders expressed support for Greece. Futures S & P CNX Nifty on the Singapore stock market indicates a gain of 35 points at the opening bell. Foreign institutional investors (IIE) bought shares worth Rs 229.21 crore and domestic funds bought shares worth Rs 241.95 crore Thursday, June 23, 2011, according to preliminary figures from the exchange.

Key benchmark indices rose on Thursday, June 23, 2011, as investors bought key index, such as Reliance Industries (RIL), ONGC, ICICI Bank, Larsen & Toubro and Infosys. The BSE Sensex rose 176.86 points, or 1.01% to 17727.49, its highest close since June 17, 2011. NRI Share Trading Account.

Sugar stocks will be in focus as the panel at ministerial level on Thursday, reportedly may take an additional five lakh tonnes sugar in September. The authorization is transmitted to the share of exports of 5 lakh tonnes of solid marketing earlier this year. The sugar industry had asked for a ship more sugar, almost exhausting the export quota, use the growing global concerns about lower prices of the crop in Brazil PAN Card for NRI.

On the macroeconomic front, the increase in food prices, the index of 9.13% and the index of fuel prices increased by 12.84% at 11 years in June 2011, data released Thursday by the government showed . In the previous week, food and annual inflation of fuel and 8.96% 12.84% respectively. The price index for primary articles rose 12.62% compared to an annual increase of 12.86% a week earlier NRI Demat Account.

India Meteorological Department (IMD) on Tuesday downgraded the outlook for the vital monsoon rains this year to slightly below normal compared to normal forecast in April 2011. On the back, agricultural production can not be negatively impacted significantly due to the onset of monsoon rains on time this year and expectations that the rain is well distributed.

IMD said monsoon rains this year will be 95% long-term average in all up to a previous forecast of 98% and less than 96-104 percent, which calculates the normal monsoon. In India, one of the world’s largest producers and consumers of crops such as rice, sugar and corn, relies heavily on the monsoon from June to September on agricultural production.

The monsoon rains in July 2011 should be 27 centimeters, 29 centimeters against average over 50 years. In August 2011, the rains should be 24 inches from a long-term average of 26 centimeters. The monsoon season brings about 70% of annual rainfall in India and is essential for summer crops such as rice, sugarcane, pulses, cotton and oilseeds as about 60% of the country’s farmland is rainwater. The precipitation forecast has been lowered due to the weakening of La Nina conditions, temperatures neutral on the Indian Ocean and the North Atlantic negative pressure NRI Online Trading account.

Seasonal rains have been 11% higher than normal until June 20 Most regions have so far received rainfall normal to above normal with the exception of Gujarat, the largest producer of cotton, and the northern region. In northern India, known as the grain bowl of the country, seasonal rainfall so far affected his peripheral parts of Uttar Pradesh. The monsoon advanced to half the country and is expected to cover most parts of the first week of July.

Rainfall in July considered essential. Seedlings of a number of crops begins in June and July rainfall determine the proper soil moisture and ensure the smooth development of crops planted in June

Asian stocks rose on Friday, EU leaders expressed their support to Greece and a collapse in energy prices eased concern the global recovery will falter. The key benchmark indices in China, Hong Kong, Indonesia, South Korea, Japan and Singapore increased from 0.06% to 1.05%. Taiwan Taiwan Weighted average fell 0.42%

Oil prices plunged in New York on Thursday after the U.S. and other members of the International Atomic Energy unexpectedly said they would release 60 million barrels of oil on world markets of energy to compensate for the loss of production in Libya.

U.S. stocks closed path away from the session lower on Thursday on reports that Greece has led the European Union and the approval of the International Monetary Fund for the last five years austerity plan. On the economic front, raised the claim of the United States to benefit more than expected last week, suggesting a slight improvement in employment. Other data showed new home sales fell in May

European leaders pledged more money to help Greece to avoid imminent bankruptcy, provided that the Parliament adopts austerity plan developed in great last-minute talks with international lenders. Greek Prime Minister George Papandreou pledged to boost the radical economic reforms after his new Minister of Finance reached an agreement with the inspectors of the EU and the IMF on tax increases and spending cuts to close a deficit 3800000000 funding.


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