Sensex 17,000 In The Opening Strikes Of Large Scale Commercial

Firm Asian markets and the recent resumption of purchases by foreign funds led to a strong start in national exchanges. The BSE Sensex up 118.18 points or 0.7%, to 16,980.99, after touching a day above the psychological mark 17,000. The market size, which indicates the general health of the market was very strong.

At 9:28 IST, the BSE Sensex up 118.18 points or 0.7%, to 16,980.99. The index rose 140.32 points to 17,003.13 on the day high in early trading day. The index rose 59.50 points to 16,922.31 on the day a bit in early trading.

S & P CNX Nifty rose 42.50 points, or 0.84% ​​at 5,106.80

The market size, which indicates the general health of the market was very strong. On BSE, 1,002 stocks rose and 299 fell actions. A total of 51 stocks remained unchanged.

The total turnover of BSE was Rs 246 crore by 09:25 IST.

Among the Sensex stake 30, 26 gained, while only four of them fell. Jaiprakash Associates (up 3.41%), DLF (up 2.59%) and Wipro (up 1.96%), rose from the Sensex pack.

Infosys (up 1.02%), Tata Motors (up 0.33%) and Hindustan Unilever (up 0.05%), down from the Sensex pack.

Index heavyweight Reliance Industries (RIL) rose 0.88% to 828.10 RS. RIL, last week announced the completion of the purchase of a BP 30% interest in 21 oil and gas contracts to production sharing, RIL operates in India, including the KG D6 block production.

RIL, BP will pay a total of $ 7.2 billion decision to apply adjustments to the acquired interests in 21 production sharing agreements, the company said in a joint statement. In addition, performance payments up to $ 1.8 billion would be paid based on successful exploration, which leads to the development of commercial discoveries, the two companies said.

Exploring India’s oil set by the ONGC’s market capitalization has increased 0.33% after the company state has filed a prospectus for its follow-on public offering with the Securities and Exchange Board of India (SEBI) , Monday, September 5, 2011. 5% of the shares sold will include an offer of 41.92 shares crore for the public and a reservation of 85.53 shares lakh for employees, the company said.

Foreign institutional investors (IIE) bought shares worth Rs 431.48 million rupees, Tuesday, September 6, 2011, according to preliminary data of the award. Domestic institutional investors (DIIS) has sold shares worth Rs 415.17 crore on that day.

Long-awaited Land Acquisition Bill, which aims to upgrade the standard of compensation for most landowners, the council of the Union on Monday approved September 5, 2011. It is intended to be introduced in Parliament today, 7 September 2011. Bill to incorporate the acquisition and rehabilitation and reintegration, clearly defined public purpose, is a retroactive clause, and to pay compensation programs.

Moody’s Investors Services confirmed its rating of Baa3 foreign currency debt rating of India and the Ba1 local currency debt annual credit analysis published on Monday 5 September 2011. Votes for the company given the positive outlook for bonds denominated in Indian rupees, saying it is considering a rating of Baa3 uniform for all bonds if India is to improve the fiscal position and its commitment to strengthen the market inside. Currency debt outlook is stable.

The report was optimistic about India’s ability to overcome an economic crisis. While not immune to a slowdown in international growth, the strength of domestic demand and economic diversity provides protection against a downturn in the exposed sectors worldwide, the report said. India noted that the foreign exchange reserves equivalent to four times its external debt.

Debt ratio of 71% is worrisome, because the interest on this debt eats 25% of annual sales in India. However, Moody’s expects continued growth and gradual fiscal consolidation reduces the debt / GDP of the government, the report said.

Service sector in India has increased its weakest growth in over two years in August 2011, strangled by the low expansion into new businesses as the faltering global economy and the tightening of monetary conditions in mind, a survey showed on Monday September 5, 2011. Markit HSBC’s business activity, based on a survey of nearly 400 companies, fell to 53.8 in August from 58.2 in July, the index down more than a month since January 2009. It was also the lowest growth since June 2009, but the index remained above the 50 mark that separates growth from contraction for 28 consecutive months.

The new business sub-index fell to its lowest level in three months in August to 54.9 from 59.3 in July, as the global economic situation sinks hit orders. Expectations of new businesses have also been revised down in August. The survey also showed reduced levels of employment in the services sector for the second consecutive month, the growth of new businesses has decreased while the input costs and output prices continued to march ahead.

Manufacturing activity in India in August 2011 dropped to a lowest level in 29 months as exports took a beating amid continuing uncertainty in global economic environment, a survey showed Friday, September 2, 2011 . The total seasonally adjusted purchasing managers HSBC, compiled by Markit, fell to 52.6 in August against 53.6 in July. The pace of new order flows in August fell to its slowest in 29 months as export orders contracted at the fastest rate since the series began, HSBC said.

Arrears production fell for the first time since March 2010 working pressures subsided. In addition, inflationary pressures have increased both the input and output prices rose.

Food inflation has confirmed up to 10.05% in the week ended August 20, 2011, the highest in almost six months and a maximum of 9.8% increase in the previous week. The data underscore the long-term fight against inflation, which could quickly the Reserve Bank of India to raise policy interest rates by the 12th time in March 2010, when it meets to consider monetary policy, September 16, 2011.

Exports rose 81.79% to $ 29.3 billion, while imports rose 51.5% to 40.4 billion crowns in July 2011 during July 2010, leaving a trade deficit of 11 billion dollars, data showed last week.

Asian markets rose slightly on the yen weakened on Wednesday and the values ​​fell to its lowest level since 2008. The key benchmark index in Taiwan, Japan, South Korea, China, Hong Kong, Singapore and Indonesia increased from 0.93% to 2.56%.

The European Central Bank (ECB) should maintain its key rate unchanged at 1.5% in its monthly meeting on interest rate policy, Thursday, September 8, 2011. The same day, the Bank of England (BOE) Monetary Policy Committee is also expected to keep its key policy rate to 0.5%, the 31st consecutive months at such a rate.

U.S. markets fell on Tuesday on fears in Europe so far failed to resolve its debt crisis. The Dow Jones Industrial Average fell 100.96 points or 0.90% at 11,139.30. S & P 500 slipped 8.73 points, or 0.74% at 1165.24. The Nasdaq fell 6.50 points, or 0.26% at 2473.83.

President Barack Obama has a speech Thursday, September 8, 2011, to propose measures to boost employment in the light of the crisis in U.S. unemployment.

The U.S. index futures Dow Jones said that could earn 44 points in the opening of the market, Wednesday, September 7, 2011.


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