JAI MATA di
$sabse bada rupaiya
MARKET SUMMARY & DAY
FORWARD
DATE: 9th SEPTEMBER
2010.
We have started giving commodity calls
in crude, Gold & silver.
ABOUT
AMERICAN ECONOMY & markets:
The US economy has
shown "widespread signs" of slowing over recent weeks, the Federal
Reserve said on Wednesday in a report suggesting that while the recovery has
been faltering, the economy may skirt a second recession. The Obama administration’s latest economic proposals for
infrastructure spending and tax relief for businesses won’t make a difference
to the U.S. economy, said New York University Professor Nouriel Roubini. “All
three proposals -- the R&D tax credit, investment tax credit and
infrastructure -- make reasonable economic sense,” Roubini told reporters
before an evening speech hosted by the C.D. Howe Institute in Toronto.
“However, the size of them is not large enough to make a difference for the
economic outlook.”
The Dow rose by 46.32 points, or 0.5 percent, to close at 10,387.01
points. The S&P 500 rose by 7.03 points, or
0.6 percent, to close at 1,098.87 points and the NASDAQ rose by 19.98 points, or
0.9 percent, to close at 2,228.87.
A
volatile political environment is boosting the possibility that U.S. lawmakers
will pass legislation designed to prod China into letting its currency rise
more rapidly against the dollar. China said in June that it would permit market
forces greater sway in setting the Yuan’s value, yet it has only appreciated
about 0.6 percent since then. Pressure is building in both the House of
Representatives and Senate over the issue, creating some nervousness among
analysts about the risk that legislative proposals may stir more trade
tensions. "There is no real question that China's deliberately undervalued
exchange rate is unfair, contributes to global trade imbalances, and costs the
United States jobs and economic growth, particularly in the manufacturing
sector," Ways and Means Committee Chairman Sander Levin said in a
statement on Wednesday.
ASIAN MARKETS:
Chinese
commodity futures prices fell about 2 percent on Thursday as traders scrambled
to identify the cause of the widespread sell-off."We are investigating why
there is a sharp decrease. There is market talk over a crackdown over illegal
funds, but we do not have any reliable source for that," said Shi Yan,
chief analyst with Xinhu Futures Co. Ltd. The commodities sell-off prompted a
slide in China stocks. The Shanghai Composite Index was down 1 percent at
2,667.6 by midday Thursday, after trading narrowly for most of the session
below the 2,700 mark, a level the index has failed to breach multiple times in
the past month.
INDIAN economy & stock MARKET:
India's industrial
expansion is likely to slow down in coming months, though farm growth would
pick up in the second half of the year, Montek Singh Ahluwalia, deputy chairman
of the Planning Commission, said on Thursday.
IT
firms on Wednesday said they were concerned about growing protectionism in the
US but added that a recent ban on off shoring of government projects by Ohio
will not have significant impact on the industry at the moment.
Food inflation went
up to 11.47 per cent for the week ended August 28, on the back of increase in
prices of cereals, fruits and milk. This is the second consecutive week when
food inflation has shown an upward trend, after a brief period of moderation in
July and first half of August. Food inflation was 10.86 per cent during the
previous week ending on August 21.
Nifty
continued its uptrend for the fourth consecutive day on backing of buying in
financial, telecom, Tata group and select auto shares. After the news of
inflation going up market reacted little but from middle session market gained
the momentum and headed for another high. In today’s session banking stocks
gained the most leading the way was SBI followed by capital
goods, select auto, metal and realty companies' shares. NTPC, HUL, Infosys. However,
private power, cement, healthcare and PSU oil & gas companies' shares along
with Tata Motors, ITC, Sterlite Industries, HDFC and Reliance Communications
were witnessing selling pressure, which capped the gains. The main events to
watch on Monday will be of IIP numbers and RBI’s meeting on 16.
COMMODITY – GOLD:
Gold
pared earlier gains during a three day rally to settle slightly down toward
$1,257 ahead of the fed's beige book reading on the U.S. economy. Gold has
risen by about 15 percent so far in 2010, marking ten years of continuous
increases, and looks set for its third all-time high this year. It last hit a
record $1,264.90 in June. The rally has been driven in large part by the
emergence of the difficulties of several euro zone member states in covering
the spiraling cost of financing their debt burdens as the regional economy
sputtered. Evidence of cracks in the U.S economic recovery and cooler Chinese
data, combined with doubt about the strenuousness of stress tests conducted on
European banks has created a springboard for investors to dive into gold. "It's
a perfect storm, which will now take us up to challenge the all-time high and
maybe even make new highs," said Credit Agricole analyst Robin Bhar. "All
the factors seem to have come together at a time when physical demand is also
propping up the market, but as with all the other precious metals, physical
demand is probably not going to be the factor that drives it to new highs. It
has to be this investment desire."
UBS
precious metals strategist Edel Tully said she had upgraded her gold price
forecasts based on gold's traditional outperformance in September, coupled with
safe-haven demand emanating from the focus on sovereign fiscal burdens. "Given
the range of factors conspiring to push gold higher in September, we raise our
one-month forecast to $1,300, from $1,230 previously. We also lift our three-month
target to $1,300, from $1,200 previously," she wrote in a report. Also
supporting prices was news that China, the world's biggest gold miner, saw a
fall in output in July. The country is a major consumer of gold, and
speculation its output may fail to satisfy domestic demand is likely to firmly
underpin prices.
COMMODITY – CRUDE:
Oil
rose on Wednesday for the first time in three sessions, bouncing with equities
and supported by a weaker dollar as concerns over the European banking system
eased and investors cautiously bought riskier assets. Crude futures extended
gains in post-settlement trading after industry data showed a surprise large
stock drawdown in domestic crude inventories last week. A raised forecast for
2010 global oil demands and lowered forecast for non-OPEC crude oil production
growth in 2010, both issued by the U.S. Energy Information Administration on
Wednesday added to the bullish sentiment. While boosting the 2010 demand growth
forecast by 50,000 barrels per day, the EIA lowered its forecast for 2011
demand growth by 100,000 bpd. With little disruption to energy operations from
tropical weather so far this season, the U.S. National Hurricane Center was
monitoring newly formed Tropical Storm Igor and two other systems in the
Atlantic Ocean. The systems were not yet expected to threaten energy operations
in the Gulf of Mexico.
AS STOCK MARKET IS RANGE
BOUND AND NOT GIVING ENOUGH OPPORTUNITY TO DAY TRASERS NOW WE SHIFTED OUR FOCUS
ON COMMODITY AND ALL CLIENTS ARE EARNING GOOD PROFITS.
OUR NEW WEB-SITE WWW.SSABSEBADARUPAIYA.IN is ON AIR. Visit website for
added attraction.
My
messenger ID :
devang_p@yahoo.co.in
Mob
no:
- 9323793701
I take full responsibility about what
I written in this News Letter. Web Portal Carrying this newsletter has no
liability whatsoever in nature.
We are unique in nature and so is our rates, we are having
extraordinary rate for Intraday / position trading. Our sour short target
SMS traders who trade more than 10 lots in F & O should only contact.
Other trades can avail the free facilities given to you for level trading.
Tel.No. 022-26715604 / 09-9323793701.
Disclaimer: Any action you
choose to take in the market is totally your own responsibility. We will not be
liable for any direct or indirect consequential or incidental damages or loss
arising out to the use of this information. The author of the newsletters
thereby, will not be liable for any loss incurred be it monetary or otherwise.