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.