Markets are weak Asian stocks edge lower

The key index slightly lower amid extreme volatility in early trade as Asian stocks fell in the wake of disappointing U.S. employment data. BSE Sensex was down 63.50 points or 0.35%. The market breadth was negative. Auto stocks declined. The carmaker Maruti Suzuki India fell on reports of labor problems at its plant in Manesar in Haryana. Index heavyweight Reliance Industries (RIL) extended losses on Friday.

At 9:25 am EDT, the BSE Sensex fell 63.50 points or 0.35% to 18,312.98. The Sensex fell 5.20 points to 18,371.28 on the day high in early trading. The index fell 69.06 points to 18,307.42 on the day low in early trading, its lowest level since May 31, 2011. PAN card for NRI

S & P CNX Nifty was up 14.90 points or 0.27% to 5,501.85. The Nifty hit a low of 5,490.05, its lowest level since May 31, 2011.

Extent of the market, shows the health market has been negative. BSE, 526 shares declining, 454 shares advanced. A total of 34 shares remained unchanged.

30 members of the pack of Sensex, 27 stocks fell, while the rest of them stood up. Jaiprakash Associates, Reliance Infrastructure and DLF fell between 1.39% and 1.71%. Cipla, HDFC and HDFC Bank rose between 0.12% and 0.8%.

Index heavyweight Reliance Industries (RIL) fell 0.32% to 1.65% on Friday extending losses caused by the comments of Chairman Mukesh Ambani to 37 of the company: e AGM (annual general meeting) EFI Friday that the deal with the challenges posed by rising raw materials prices of inputs and trends in inflationary pressure. Ambani said RIL will be debt free in the current year ending March 2012 (FY 2012). Ambani said RIL has a strong economy and a healthy balance. NRI share trading account

Ambani said the company BP-RIL jointly evaluate and address technical issues in accelerating the production of gas in the KG D6 block after the government approved the alliance BP-Reliance. Ambani said RIL is best placed to capture the top quartile of margins in the refining of oil, due to their strategies of oil supply, low operating costs and produce cleaner fuels.

As for RIL organized retail sector, Ambani said Reliance Retail will soon launch a cash and carry format is based on the principle of providing inclusive growth of all trading partners to detail. Given the business wireless broadband services Ambani said the company is currently conceptualizing and its products and services. NRI online trading account

Carmaker Maruti Suzuki India fell 1.62% on the work of the work reports of the plant in Manesar in Haryana society. About 2,000 workers at Maruti’s Manesar plant, have beaten work from Saturday, June 4, 2011, resulting in a production loss of about 650 units, reports suggest. The Manesar plant deploys 1,300 units daily. The strikers demand the recognition of a new union – Maruti Suzuki Employees Union (MSEUE) – formed by people working in the factory in Manesar, in addition to retaining workers under contract to the next two new units within the complex. Take no disciplinary action against 11 officials of the new union is also another application.

India’s second largest commercial vehicle manufacturer Ashok Leyland sold fell 2.99% after total sales fell 12% to 5,725 units in May 2011 over May 2010. Domestic sales decreased by 14.91% 5,082 units while exports rose 22% to 643 units.

Among other stocks of automobiles, India lost top truck maker by sales Tata Motors 0.92%, the stock slip for fourth day directly affected by weak car sales in May 2011. Tata Motors’ domestic sales of passenger cars fell 8.25% to 21,549 units in May 2011 over May 2010. Sales of passenger cars include Tata and Fiat cars. Sales of commercial vehicles in the domestic market grew 19% to 37,361 units in May 2011 over May 2010. Tata Motors’ total sales, including exports of commercial and passenger cars increased 9.7% to 62,296 vehicles in May 2011 over May 2010. The company announced the monthly sales from 1 June 2011.

Mahindra & Mahindra (M & M) shed 0.33%. The company announced a 20% increase in sales of 34,323 units of cars in May 2011 to May 2010. The figures were announced on June 1, 2011. Commenting on the sales figures in May 2011, Rajesh Jejurikar, CEO of the automotive division, H & M said: “We are very pleased with the growth of 20% recorded in May 2011. All our brands are doing well, with the recent launch Verito vehicle sales in 1290, almost three times last May.

Bajaj Auto fell 0.72%, on volume broke two days of gains. The company’s total sales rose 20% to 3.58 lakh units in May 2011 to May 2010. Exports rose 32% to 1.26 lakh units. Motorcycle sales rose 18% to 3.17 lakh units. Sales of commercial vehicles rose 36% to 40,860 units. The company reported monthly sales, June 2, 2011.

India’s largest motorcycle manufacturer Hero Honda sales site Motors rose 0.17%. The company announced 14.7% increase in sales to 5,00,234 units in May 2011 to May 2010. The company announced its monthly sales figures after hours trading on 1 June 2011.

In the new macro, the service sector expanded at its slowest pace in 20 months in May 2011 as high prices and rising interest rates eating away at the growth of new enterprises and reduces the level of optimism, a survey showed on Friday. The seasonally adjusted economic activity index Markit HSBC, based on a survey of over 400 companies in India, has slipped to 55 May 2011, from 59.2 in April 2011, marking its twenty-five consecutive months above 50 level that separates growth from contraction.

manufacturing growth in India fell slightly in May, the pace of new orders slowed, but the contribution of plants and producer prices increased considerably. HSBC Index Markit Purchasing Managers, based on a survey of nearly 500 companies, fell slightly to 57.5 in May versus 58.0 in April, the weight of a slowing rate of expansion of new orders and a labor shortage, data showed last week.

The police quickly broke up the mass of the transplant resulted in India’s most famous yoga guru Baba Ramdex Sunday, risking more of political scandal-tainted headaches. Country Ramdev, who is planning to launch a political party before the 2014 elections, after which the charges were bribes and games Telecom scams that could cost the government 39 billion U.S. dollars. Ramdev accused of police brutality when they went on hunger strike, he and thousands of supporters had begun in New Delhi Saturday, June 4, 2011.

Asian stocks fell Monday, June 6, 2011, under pressure from the killing last week of disappointing economic data from the United States. The key reference rates in Singapore, Indonesia and Japan fell 0.03% to 0.75%. The stock markets of Hong Kong, Seoul and Shanghai were closed for holidays.

The U.S. index futures indicated the Dow has a chance to win 12 points at the opening bell on Monday 6 June 2011.

Meanwhile, the greek Ministry of Finance on Friday, June 3, 2011, said that negotiations with financial aid from the Greek language is welcome, and the country is also committed to accelerating the privatization of its activities. In another development, the Portuguese opposition won the elections on Sunday, describing said to try to quickly transfer savings required by the plan developed by the European Union and the International Monetary Fund.


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