IIP for April 2010 grows by 17.6% YoY – well above consensus estimates of 14.3%

IIP for April 2010 grows by 17.6% YoY – well above consensus estimates of 14.3%

JUNE 11, 2010

STRONG ECONOMIC DATA,SUCESSFUL SPANISH BOND AUCTION AND LOWER INITIAL JOBLESS CLAIM HELPED DOW TO CLIMB 2% UPSIDE.
ASIA TAKES OVERNIGHT CUES FROM WALL STREET AND TRADING WITH STRENGTH.
GOLD FACES CORRECTION WHILE BASE METALS TRADES STRONG.
$INDEX 87.18. CRUDE@75.4$.
APRIL IIP NOS TODAY.
EGOM MEET ON FUEL PRICE HIKE LIKELY ON JULY 17TH.
NIFTY MAY OPEN GAP UP AND TRADE WITH STRENGTH AS GLOBAL CUES ARE STRONG AND MAY SCALE HIGHER UP IF IIP DATA SUPPORTS.

Market Outlook 9th June 2010

Crude@72.4$. Global markets trading muted. US markets rally except tech heavy Nasdaq.
Asia trading mixed with +ve bias. Nifty may open lacklusture and may hold on to 5k.
European indices opening may provide guidance in the later half.
Hindalco on expansion spree;hunts for mines in latin America.

Market Outlook 2nd June 2010

Crude @72.73$. Europe's worsening fiscal health and china's lower than expected PMI estimate pull Dow by over 1%.
Asia trading mixed. $ Index@86.71. Rupee hits a week low.
Nifty may witness some kind of relief rally on opening but may be influenced by European mkts in the later half.

GDP growth for Q4FY10 at 8.6% - in line with consensus estimates

. GDP growth for the quarter ended 31st March 2010, stood at 8.6%, right in line with Bloomberg consensus estimates of 8.6% growth

· Growth in all the segments for Q4FY10 has been higher as compared with that seen in the previous quarter.

· Mining and manufacturing segment have shown strong growth of 14.0% and 16.3% yoy respectively.

· For the full year FY10, the GDP growth stands at 7.4% vs 6.7% in FY09.

MARKET 28TH MAY 2010

GLBL Market surges as China declares itself as long term investor in Europe.
$ index @ 86.47.
Crude@ 75$.
Base metals witnessed buying interest.
Nifty rollover @ 66% vs 76%.
further short squeezed xpected in nifty; interms of cash buying nifty Lacks F2 support;
Commodity stock under focus.
Apollo hospital boards to mull stock splits on may 28th.
Ongc,Sail,HDIL and unitech earnings today.

MARKET OUTLOOK 27th MAY 2010

Crude @71$. US marktets retreat;
new home sales data & durable goods data hits new high.
Financial $ tech drag Dow down.
Asia trading soft with -ve bias.
Base metals in red on profit booking.
$ index@87.12.
Mahindra accquires 55.2% stake in electric car Reva.
Expiry day today;
massive short covering in nifty & stocks;
European indices may influence 2nd half of the day.