Market May Extend The Recent Rally On Firm Asian Stocks

The market may extend the four-day rally in Asian stocks constant. Trading in the S & P CNX Nifty futures trading in Singapore shows the winner 39 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 819.41 crore and domestic funds sold shares worth Rs 575.06 crore on Tuesday, June 28, 2011 provisional data released for trade NRI Share Trading Account.

Benchmark key points for the fourth day the right to obtain the closure of the three-week high Tuesday, June 28, 2011, recent data show that foreign institutional investors (IIE) have stepped up purchases of Indian shares. BSE Sensex jumped 80.04 points or 0.43% to 18,492.45, its highest closing level since June 7, 2011. BSE Sensex rose 941.82 points or 5.36% in four trading days of sessions from a recent low of 17,550.63, June 22, 2011 NRI Demat Account.

The market may remain volatile in the short term as traders rolling over positions in the derivatives segment in June 2011 Series 2011 Series for July. The quasi-June 2011 months derivative contracts expire Thursday, June 30, 2011 NRI Online Trading account.

The board of state oil explorer and Natural Gas Corporation (ONGC) has approved the continuation of public offer (FPO). The company will present documents with securities regulators after receiving the green light from the government. The company plans to launch the offer in July. The offer, which is expected to raise up to $ 2.8 billion, was delayed for several months as rising oil prices and the burden of subsidy, therefore, more state of the company to stay away from the market.

Bajaj Auto shares turn ex-dividend today, June 29, 2011 for a dividend of Rs 40 per share for the year ended March 2011 PAN Card for NRI.

Expectations for Q1 June 2011 results will begin construction of the first quarter comes to an end. Housing finance major HDFC earnings season begins, July 8, 2011. IT barometer of Infosys Technologies Q1 results announced July 12, 2011.

A hike in transport costs will increase pressure on the cost of India Inc. As reported by the freight rates increased 8% to 9% with immediate effect on all roads across India after the recent rise in diesel prices.

The recent rise in prices of diesel and LPG will also add to inflationary pressures in the economy. The food price index rose by 9.13% and the index of fuel prices increased by 12.84% at 11 years in June 2011, data released by the government Thursday, June 23, 2011 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.

Heads of Finance of the United States and India agreed Tuesday to continue efforts to open India financial, retail, manufacturing and infrastructure markets to competition, but offered no specific measures to promote access for U.S. companies.

Asian stocks rose on Wednesday, June 29, 2011, before a vote in the Greek Parliament as investors awaited the approval of an austerity program required by international lenders. The key benchmark indices in Hong Kong, Indonesia, Japan, Singapore, South Korea and Taiwan increased from 0.32% to 1.12%. China’s Shanghai Composite fell 0.39%.

The greek Parliament will make a two-day session of the European Parliament on key conservation measures beginning today, June 29, 2011. Greece is to cut spending to bring it in the next round of funding assistance.

U.S. stocks rose for a second day Tuesday on optimism that a solution to debt crisis in Greece was close. The U.S. Federal Reserve decided to end its program to buy 600 billion worth of bonds by the end of this month, according to the schedule.


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