The Market May Edge Lower On Weak Asian Stocks

The market may edge lower weak Asian stocks. Futures Trading S & P CNX Nifty of the Singapore Exchange, said 48.50 points below the opening bell. Foreign institutional investors (IIE) bought shares worth Rs 890.44 million rupees and domestic funds sold shares worth Rs 486.85 million rupees on Friday, June 24, 2011, according to provisional figures published by bags.

PSU MAC will develop after the government after market hours Friday, June 24, 2011, announced an increase in the price of diesel by Rs 3 per liter, kerosene R 2 liters of gas and a kitchen with a strong Rs 50 a cylinder. The government has also reduced customs and excise duties on petroleum products, Rs 49,000 crore a year in revenue sacrifice. The government removed tariffs of 5% in crude oil, reduced import duties on petrol and diesel from 7.5% to 2.5% and reduce excise duty on diesel R 2.60 to R 2 per liter .

Rising transportation costs will add to cost pressures in India Inc. reportedly freight increased 8% to 9% with immediate effect on all roads in India after the last increase price of diesel.

Benchmarks to gallop to reach the highest level in nearly 1-1/2 closing weeks, Friday, June 24, 2011 the company has increased their stock of the world. BSE Sensex jumped 513.19 points, or 2.89% to settle at 18,240.68 closing its highest level since June 14, 2011.

The market is likely to be moved before the expiry of near month of June 2011 derivatives contracts on Thursday, June 30, 2011.

The increase in the final price of diesel and LPG will add to inflationary pressures in the economy. The price index for food increased by 9.13% and the rate of fuel prices increased 12.84% in the year to June 11, 2011, as published by the government Thursday, June 23, 2011 showed . In the past week, food and fuel inflation stood at 8.96% and 12.84% respectively. The price index for primary articles rose by 12.62% compared to an annual increase of 12.86% a week earlier NRI Share Trading Account.

Investors continue to monitor the progress of monsoon rains. The India Meteorological Department (IMD) has lowered the forecast for most of the monsoon rains this year, slightly below normal compared to the normal forecast given in April 2011. On the other hand, crops can not be significantly affected due to the onset of monsoon rains at the time of the year and expectations that are well distributed rainfall NRI Demat Account.

Asian stocks fell the most in a week on Monday after lawmakers raised capital for the largest lenders around the world and relate to the center of the U.S. economy is not stable. The key benchmark indices in Hong Kong, Indonesia, Singapore, South Korea, Japan and Singapore were down between 0.54% to 0.96%. China’s Shanghai Composite rose 0.45%.

Top of the world’s central banks gathered at the weekend, said Saturday that large systemically important banks must have an additional capital cushion. World’s largest banks that can pose the greatest risk to the global financial system should take an additional 2.5% on their balance sheets to protect them in case of another crisis. The consultation document, agreed by the group of governors and heads of supervision will be submitted to financial stability, which is expected to issue final rules next month.

The agreement provides for banks that may pose a risk to the global financial system faces an ascending scale of demand. Depending on their size, banks need capital buffer will be between 1% and 2.5% in Tier 1 common capital, the strictest definition of the capital. The buffer would come on top of 7% Tier 1 common capital that Basel III-committee already established all financial institutions should take PAN Card for NRI.

The opinion of the committee also said that banks provide the brakes in front of the highest paying substantially increase their global systemic significance in the future, an additional 1% applies in such circumstances. Methods based on it, networking, lack of reimbursement, global operations and the complexity of the banks. The banks have until 2019 to hit higher in the capital NRI Online Trading account.

U.S. stocks ended with losses Friday, as investors Fretted over Europe to spread the debt crisis and the device can turn a weakness in the tech-sector earnings in the wake of disappointing results Oracle Corp.


One Comment

  1. Jonay, 6 years ago

    Thought it wouldn’t to give it a shot. I was right.