Weak Asian stocks may pull the market lower

The market can snap two-day gains on weak Asian stocks fell after Federal Reserve Chairman Ben Bernanke, Tuesday, June 7, 2011, said the U.S. economic recovery was considered uneven and frustrating and slow. Trading in the S & P CNX Nifty futures on the Singapore Stock Exchange showed a decrease of 40 points at the opening bell. Foreign institutional investors (IIE) bought shares worth Rs 112.70 crore and domestic funds bought shares worth Rs 31.29 crore Tuesday, June 7, 2011, according to preliminary figures from the exchange.

The key benchmark indices extended gains for second straight day Tuesday, June 7, 2011, to reach its highest closing level in nearly a week of index heavyweights Reliance Industries (RIL) and Infosys Technologies increased . The BSE Sensex rose 75.51 points or 0.41% to 18,495.62, its highest close since June 1, 2011. NRI Share Trading account
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 last week. 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.

India’s industrial growth slowed slightly in May has slowed the pace of new orders, but the plant input and output prices continued to rise strongly. HSBC Markit purchasing managers ‘index’, based on a survey of about 500 companies, fell to 57.5 in May and 58.0 in April weighed slower rate of growth in new orders and a shortage of work, data showed last week. PAN Card for NRI

The World Bank on Wednesday revised upward its growth forecast for developing countries and warned that higher prices of food and fuel, causing inflationary pressures to build. His current Global Economic Prospects report, the World Bank said the rate of growth of developing countries in the world would be an average of 6.3% over the next three years, until 2013, which fell by 7.3 % in 2010.  NRI Share trading account

Asian stocks were lower Wednesday after Federal Reserve Chairman Ben Bernanke, Tuesday, June 7, 2011, said the U.S. economic recovery was considered uneven and frustrating and slow. The key benchmark indices in Japan, Singapore, Indonesia, Taiwan, China, Hong Kong and South Korea fell 0.28% to 1.39%.

U.S. stocks extended a losing streak on Tuesday, the fifth day on growing concern about the economy after the fall of comments the Federal Reserve chairman Ben Bernanke. Bernanke on Thursday acknowledged the economy is slowing, but offered no hint the U.S. central bank is considering more of an incentive to boost growth. He also warned members of Congress who might be planning an aggressive budget cuts that have the opportunity to derail the recovery, if the cuts in public spending to deal with too soon. NRI Demat account

second round of Fed easing quantitative or QE2, an interim policy to increase the money supply, low interest rates and stimulate the economy, ending June 30, 2011.


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