expected GDP figures made sensex close flat

•  Sensex closed at 16944, up 81 points, and Nifty at 5086, up 19 points from the previous close.
• Into the last half hour of trade the market appears to be steadying itself in the green territory and moving up. Asian markets have closed mixed.
• The recent financial turmoil in European credit markets has provoked fears of a double-dip for Asian exports and further liquidation of Asian equities to meet solvency calls overseas, says Sean Darby of Nomura on CNBC TV18.
• The market is much less vulnerable than in 2008, on lower oil prices, fiscal cushion, moderate earnings expectations and under ownership by FIIs, says N Krishnan of CLSA on CNBC TV18.
• In a major initiative to encourage investors from the rural and semi urban areas to participate in the equity market, NSE on Monday announced reduction of connectivity charges and waiver of transaction charges.

sensex gain, momentum from firm global cues

• SENSEX up by 158 points, trading at 16,882. ( 28th may , india, 9:24 am).
• The BSE Sensex rose more than 1 percent early trade on Friday, with Reliance Industries and ICICI Bank leading the rise, taking cues from firm world markets.
• Measures announced by European countries to tackle their fiscal woes are helpful steps, IMF chief Dominique Strauss-Kahn said , adding that Europe’s economy will be back on track soon.
•  Oil extended gains to touch a two-week high above $75 on Friday, heading for the first weekly gain in almost a month, aided by rallying stock markets and expectations of rising U.S. consumption as vacationers take to the roads.
• The rupee strengthened early on Friday backed by gains in most regional peers and a firm start to the local sharemarket while a steady euro also boosted sentiment.
• The index of the dollar against six major currencies however was up half a percent and was likely to limit sharp gains in the rupee.
• Asian stocks rallied for a third straight day on Friday as China’s pledge to remain invested in Europe lifted sentiment but the euro surrendered some of its gains after rebounding from near four-year lows the previous day.

US stocks extend gains

•  The Dow Jones industrial average ,added 224.53 points, or 2.25 percent, to 10,198.98. The Standard & Poor’s 500 Index .SPX rose 27.17 points, or 2.54 percent, to 1,095.12. The Nasdaq Composite Index ,gained 63.85 points, or 2.91 percent, to 2,259.73.( 9:08 pm, india,27th may).
• Wall St opened higher after China denied a report it was reviewing its holdings in euro zone sovereign bonds.
• US  economy grew at a slower pace than previously estimated in the first quarter as business investment slackened, while hard-hit state and local governments reduced spending at the steepest rate since 1981.
• Gold rose to one-week highs on Thursday, supported by its safe-haven appeal in a euro zone debt crisis but with gains capped as equities and the euro bounced from recent lows.
• India is beginning to bounce back from the global financial crisis. But the IMF has warned that large capital inflows from foreign institutional investors could disrupt this recovery. An analysis of policy options proposed in a recent IMF report reveals, however, that past methods of dealing with FII inflows are inadequate and that market-based  capital controls may be the only sufficient response. According to the recent IMF publication the World Economic Outlook, India’s GDP growth rate may leap from 5.7% to 8.8% between 2009-2010. This is even higher than the most optimistic projections by the Indian finance ministry.
• Crude oil prices rose above $73 on Thursday, supported by gains in Asian and European equity markets and after the previous day’s U.S. official oil data showed an increase in fuel demand.
• The US government now estimates that up to 25,000 barrels of oil a day are spewing from BP’s Gulf of Mexico well, meaning the spill has already far eclipsed the previous worst U.S. oil spill, the 1989 Exxon Valdez disaster.
• The euro rallied across the board on Thursday after China and Kuwait denied media reports that they will reduce euro zone investments due to the region’s debt crisis.
• Microsoft shares jumped 5 percent on Thursday, helping the Nasdaq higher, on renewed investor optimism over personal computer spending and its new Internet browser.
• The euro rebounded on Thursday after China reaffirmed its long-term strategy of diversifying currency holdings away from the dollar and denied it was reviewing its holdings of euro sovereign bonds.

a pullback seen at dalal street

• Indian shares shrugged off  a shaky start and climbed 0.4 percent on Thursday.
• Gains in Asian peers help, but euro zone worry remains.
• Foreign fund outflows reach $2.3 bln in May, an issue of concern.
• General Motors has ended a partnership with Indian firm Reva to produce electric cars and will now develop the vehicle in its home town of Detroit, the head of its Indian operations said on Thursday.
• SENSEX up by 283 points, trading at 16,677.(3:02 pm , india).
• Microsoft Corp. will have to accelerate plans for the entertainment and devices businesses, Chief Executive Steve Ballmer told reporters in the Indian capital on Thursday.
• State-run Oil India  said on Wednesday acquisition of Gulfsands Petroleum was very much on the radar of the Indian firm.
• Indian wind turbine maker Suzlon Energy said on Thursday its board would consider on Saturday a rights share issue.
• The euro rebounded on Thursday after China reaffirmed its long-term aim of diversifying currency holdings away from the dollar and denied it was reviewing its holdings of euro sovereign bonds.
• Part of a rescue package meant to shore up the euro should go toward sparking growth, the managing director of the International Monetary Fund said on Wednesday.
• Governments struggling with huge debt loads and now embarking on fiscal austerity measures, such as Greece, may be unable to grow their way out of trouble, the manager of the world’s biggest bond fund wrote on Wednesday.
• About 90 percent of the wheat varieties around the world lack resistance to a deadly wind-borne fungus that destroys the cereal, posing a risk to global production and food security, industry officials said.
• Day ended at dalal street with sensex up by 278 points, closed at 16,666.
• Financial markets should not get used to central bank support, European Central Bank policymakers said on Wednesday.
• The Reserve Bank of India (RBI) on Wednesday raised the limit on bank borrowing under its repo facility by 0.5 percent of their deposits to meet liquidity requirements due to heavy fund outflows due in coming weeks.
• Recession is unlikely in the euro zone and a “welcome” drop in the value of the euro should help offset the toll that debt-shrinking austerity measures take on economic growth, the OECD’s chief economist said.
• U.S. Treasury Secretary Timothy Geithner said on Wednesday that financial markets want to see euro zone countries put into action their $1 trillion standby package designed to stabilize the euro.
• Riots, petrol bombs, tear gas and strikes greeted the Greek’s government’s latest attempt to persuade its citizens of the merits of reducing the country’s budget deficit.
• The emerging world has a history of volatility and of bad-debt problems—indeed China is grappling with such a problem at the moment. But developing-country banks now have got things right on a number of fronts.
• BANKERS in many rich countries failed two tests over the past decade. The first was the test of the marketplace, which exposed many banks that proved unable to command the confidence of their investors and counterparts or even to make a profit during a downturn. In the end they required government help to fund themselves and get hold of capital. The bigger test was that of being “socially useful”, in which the whole system got poor grades. Too much energy was put into speculation and complexity. Rather than being a source of stability, banks intensified the economic cycle, with firms showing little discipline during the boom and no humility afterwards.
• FTSEurofirst 300 up 2.0 percent.
• China remains committed to its long-standing goal of diversifying its foreign exchange reserves, a government official said on Thursday, helping to soothe global markets unnerved overnight by a Financial Times report that the country was reviewing its euro-zone bond holdings.
• President Barack Obama will announce a six month extension on a deepwater oil drilling moratorium on Thursday while a special commission studies the reasons for the Gulf of  Mexico  spill, a White House aide said.
• Monsoon, halted by cyclone Laila last week in India, is likely to hit Kerela on schedule in the next three to four days, weather officials said on Thursday.
• Facing high food prices after the monsoon failed last year, India is counting heavily on normal June-September rainfall to help the government tackle supply side inflation.
• Gold is one of the more mysterious assets in the financial markets. It’s volatile at times to the point of inducing vertigo and fans of the precious metal assert, somewhat contradictory, its prowess as a hedge against both inflation and deflation.
• Mexico’s peso firmed sharply on Thursday to a one-week high after Chinese officials denied a report that Beijing was reviewing bond holdings from the euro zone, easing investor jitters about Europe’s debt troubles.
• China said Europe remains a key investment market for its massive currency reserves.
• With Congress perhaps just weeks away from finishing Wall Street reform, the key financial players are just now realizing who’s poised to win and lose from the legislation.
• The U.S. economy grew at a slower pace than previously estimated in the first quarter as businesses investment slackened, while hard-hit state and local governments curbed spending at the steepest rate since 1981, a government report showed on Thursday.
• The U.S.-China Strategic and Economic Dialogue (SED) is a semi-annual, multi-agency dialogue intended to strengthen coordination of key issues across an increasingly complex relationship. However, at the top levels, the bilateral agenda was swept away by the euro-area currency crisis and escalating tensions on the Korean peninsula.
• China remains committed to its long-standing goal of diversifying its foreign exchange reserves, a government official said on Thursday, helping to soothe markets unnerved by a report that the country was reviewing its euro-zone bond holdings.
• Asian equities were firmly higher on Thursday afternoon, as bargain hunting helped to pull indexes out of early losses. Markets also rebounded after a Chinese government response to a report that it was reviewing its euro zone bond holdings, helped to calm nerves.

sensex bounced back, a superficial one.

• Sensex shut shop at 16387, up 365 points and Nifty at 4917, up 110 points from the previous close.
•  In a strong pull-back rally after two days of deep cuts, the Indian market traded with positive bias a day ahead of the F&O settlement. Firm cues from US and Asia helped it open higher and then strong start from Europe, helped carry the momentum forward.
• US markets in green. ( Dow Jones Ind. Avg. up by 81, S&P500 up by 10, Nasdaq up by 24 ) (10:01 pm india.)
• Britain’s top share index bounced back above the 5,000 point level on Wednesday, as investors hunted for bargains among banks and miners which had been hammered by concerns surrounding the euro zone debt crisis.
• Treasury Secretary Timothy Geithner said on Wednesday that financial markets want to see euro zone countries put into action their $1 trillion standby package designed to stabilize the European currency.
• Oil rose by almost 4 percent on Wednesday to above $71 a barrel as signs of a strong recovery in U.S. demand and a bounce in equity markets overshadowed rising crude stocks and lingering concerns about the euro zone economy. (10:09 pm india).
• Some of Wall Street’s biggest names said they are frightened and worried by the debt crisis in Europe, but still do not expect a double-dip recession in the United States.
•  There is a risk that lack of financial confidence could spread across the European Union and affect previously untouched countries, Britain’s Chief Secretary to the Treasury David Laws said on Wednesday.
• Gold rose in on Wednesday as volatility in the currency markets and fears about the outlook for the euro prompted buying of the precious metal as a haven from risk.

day was choppy, smartly recovered at the end

• Sensex shut shop at 17087, down 49 points and Nifty at 5124, down 23 points from the previous close.
• Indian shares dropped for the third straight day to close 0.3 percent lower on Wednesday,their lowest close in nearly two months, as fears of Greek contagion continued to spook world markets stoking investor risk aversion.
• All the markets around the world under pressure, may continue to tumble for some more time.
• Financials led the decline. Local shares, however, erased some losses as European markets briefly recovered from their earlier lows towards the close of the Indian session.
• The benchmark, which had witnessed a spectacular 81 percent rise in 2009, has shed more than 2 percent so far this year.
• “Market is going to be turbulent for around one-and-a-half month, taking cues from the development in the euro zone,” said Naresh Kumar Garg, CEO of Tata Mutual Fund.
• Foreign funds have pumped $6.6 billion into Indian equities so far in 2010 after a record $17.5 billion inflow in 2009.
• Investors fretted the euro zone crisis could curb risk appetite of foreign funds, which could hit inflows into emerging markets such as India.
• Metal makers extended losses as base metals tumbled more.Copper prices slid to their lowest in more than two months as fears of contagion from Greece and worries about Chinese demand prompted investors to retreat from industrial metals.
• Export-oriented software companies rose as the Indian rupee hit a one-month low earlier in the day.
• U.S. private employers added 32,000 jobs in April, while revisions to previous data showed an unexpected rise in March, according to a report by payrolls processor ADP Employer Services on Wednesday.
• The Indian rupee retreated from a more-than-1-month low on Wednesday afternoon as exporters sold dollars to take advantage of the sharp rise in the U.S. unit but dollar’s gains overseas and share losses continued to weigh.
• Oil fell 1.5 percent toward $82 a barrel on Wednesday, extending the steepest one-day loss in three months as the unfolding crisis in Greece rattled markets and mounting U.S. crude oil inventories pointed to soft demand.
• India’s finance ministry will authorise giving state-run oil retailers 140 billion rupees ($3.1 billion) of cash this month to partially subsidise their selling of fuel at cheaper prices, Oil Minister Murli Deora said on Wednesday.
• Bharti Airtel’s first profit drop in three years puts pressure on top mobile operator to quickly integrate its $9 billion purchase of Zain’s African assets to help it cope in a cut-rate home market. their selling of fuel at cheaper prices, Oil Minister Murli Deora said on Wednesday.
• Warren Buffett said on Saturday he plans to visit India next March, and would not rule out the country for possible future investments.
• Euro zone policymakers and the head of the IMF warned of looming financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, as nervous investors fled to the safe haven of the dollar.
• European stocks dipped around midday on Wednesday after a sell-off in the previous session, as lingering sovereign debt fears eclipsed positive results by bellwethers like InBev and Societe Generale .
• Sovereign debt fears knock European stocks.
• Euro zone economic growth should be stronger this year than previously thought and the budget gap lower, the European Commission said, but it warned of risks to recovery from financial market tensions sparked by Greece.
• Asia’s major economies, already through the worst of the financial crisis, are well equipped to lead a global recovery if they can guard against the spillover of sovereign risk and uncertain growth in the developed world.
• Global manufacturing expanded at its fastest pace since May 2004 in April as output and new orders surged to new multi-year highs, a survey showed on Tuesday.
• Finland’s finance minister said on Wednesday there was still a risk that Greece’s financial problems could spread to Spain or Portugal.