'India' Tag RSS Syndication from SeekingAlpha.com Equitymaster submits: A fresh round of profit booking towards the end of the day led to the benchmark indices once again slipping into the red and eventually ending the day below the dotted line. Thus, while Sensex closed with a decline of around 50 points (down 0.3%), NSE Nifty edged lower by around 20 points (down 0.4%). Declines in BSE Midcap and Small cap indices were slightly higher, with both indices losing in the range of 0.7%. On the Sensex, two stocks fell for every one that closed higher.

While Asian indices closed mixed today, Europe was seen trading largely negative today. The rupee was seen trading Rs 45.5 to the dollar at the time of writing.
Complete Story » Equitymaster submits:

Indian markets had a strong start to a new week today, as buying in auto and banking stocks pushed the markets higher. Realty stocks however closed in the red. On the broader BSE, two stocks gained today for every one that closed in the red.

The BSE Sensex and NSE Nifty closed with gains of around 110 points (0.6%) and 30 points (0.6%) respectively. Mid and small cap stocks followed suit. The BSE Midcap and BSE Smallcap indices closed up by 0.8% and 1.3% respectively. Among other Asian markets, China (up 0.7%), Hong Kong (up 2%), and Japan (up 2%) closed in the positive. European markets have also opened the day on a strong note.

Complete Story » Equitymaster submits:

The indices began the day on a robust note but as the day progressed profit booking at higher levels took its toll. From thereon, the indices oscillated to either side of yesterday's close. However, towards the fag end of the session, renewed buying activity ensured that the markets closed barely above the dotted line. While the BSE Sensex closed higher by around 8 points, the NSE Nifty also gained around 8 points. The midcap and small cap stocks did better to notch gains of 1% each. Gains were largely seen in oil & gas, FMCG and healthcare stocks while metals stocks were at the receiving end.

As regards global markets, Asian indices closed firm today while European indices have also opened on a strong note. The rupee was trading at Rs 45.68 to the dollar at the time of writing.

Complete Story » Invest With An Edge submits:

By Brandon Clay

When it comes to emerging markets, investors focus a lot of attention on the BRIC nations, Brazil, Russia, India and China. When it comes to BRIC, Brazil and China get most of the attention. China is a once-in-a-lifetime growth story, and Brazil has become the tenth largest economy in the world due to its natural resources. Russia is somewhat overlooked because of its contentious political history.

Complete Story » Equitymaster submits:

The benchmark Indian indices which showed signs of wearing off since the start of the session today failed to make a recovery till the final hour. Besides profit booking across heavyweights, the acceleration in food inflation acted as a major dampener. The food price index rose 17.9% in the 12 months to February 20 (17.6% last week) and the fuel price index was up 9.6%. Defying the government’s predictions that price rises would start to moderate, the higher inflation number adds to the pressure on RBI to raise interest rates further in April. The government's decision to raise petrol prices by about 6% and diesel by 7.8% in last week's budget to help curtail the fiscal deficit may prevent food prices from easing in the near term. Stocks from commodity, auto, and software sectors led today’s losers.

The BSE Sensex and NSE Nifty closed with losses of around 28 points (0.2%) and 8 points (0.2%) respectively. Mid- and smallcap stocks however bucked the trend. The BSE Midcap and BSE Smallcap indices closed higher by 0.8% each. Among key Asian markets, while China and Hong Kong closed marginally in the red, India and Korea were among the lead gainers. European markets have opened lower today. The rupee is trading at 45.81 to the dollar.

Complete Story » John Reese submits:

In a question and answer segment on his firm's web site, Templeton Asset Management Executive Chairman Mark Mobius recently offered his 2010 outlook for the BRIC nations -- Brazil, Russia, India, and China.

Mobius says he’s keying in on two major areas when it comes to BRIC equities: commodity and consumer stocks. He also said that, while investors should expect volatility in these areas of the market in the short term, all four BRIC countries are offering good opportunities. “Our largest holdings are in Brazil, China and India but we are continuing to hold and purchase Russian stocks due to their attractive valuations and long-term potential,” he says. “All four markets present opportunities at the moment and it is difficult to pick any one over the others.”

Complete Story » Equitymaster submits:

Strong buying activity across index heavyweights throughout the session today ensured that the indices closed well above the dotted line. While the BSE Sensex closed higher by around 227 points (up 1%), the NSE Nifty gained around 71 points (up 1%). This optimism spilled over to midcap and small cap stocks as well as they notched gains of 2% and 1% respectively. Gains were largely seen in oil & gas, metals and banking stocks.

As regards global markets, Asian indices closed mixed today while European indices have opened on a weak note. The rupee was trading at Rs 45.85 to the dollar at the time of writing.

Complete Story » Outsourcing Insider submits:

The IT Industry is riding the wave of change in all fronts from operations upgrades and expansions to more adverse developments.

Outsourcing giants China and India take the lead in this revolution. According to findings by the BDO 2010 Technology Outlook Survey, China ranks as the number one preferred outsourcing destination for both current and future markets. After China are Southeast Asia and India. According to Dell Services (NASDAQ: DELL) estimates and a KPMG report, Asia would be starting the reversal of the IT outsourcing trend as more western companies have found it cheaper and better to invest in eastern markets such as China and India. Even countries in the east have started to outsource their IT needs, and according to some analysts Asia will account for 26.3 percent of the global consumption of IT and business process outsourcing services in the next decade, up from nearly 20 percent currently. In fact, with the expected rise of the outsourcing industry, Asia’s chip makers are also expected to see improvement in their earnings.

Complete Story » Equitymaster submits:

After the thumbs up given to the Union Budget announced last week, the markets were further buoyed today by the announcement made with regard to 9% GDP growth in 4QFY10. The Prime Minister's economic advisor Mr. C Rangarajan has said that the economy is likely to grow by around 9% in 4QFY10 and would make up for the slow expansion of 7.2% in 3QFY10. This would be supported by higher industrial production and better Rabi crops. The Union Budget 2010 brought some cheer to the Indian markets, which had been reeling from fear for the past few days with respect to the government's stimulus withdrawal. Also, much of the stimulus withdrawal has been in line with what the markets had been expecting. Stocks from commodity, auto, and power sectors led today's gains.

The BSE Sensex and NSE Nifty closed with gains of around 343 points (2.1%) and 95 points (1.9%) respectively. Mid and small cap stocks also closed with gains. The BSE Midcap and BSE Smallcap indices closed higher by 2.2% and 2.3% respectively. Among key Asian markets, while China and Hong Kong closed marginally in the red, India and Korea were among the lead gainers. European markets have opened lower today. The rupee is trading at 46.04 to the dollar.

Complete Story » Dr. Duru submits:

Ever since I speculated that the market had finally reached a (near-term) top in January, I have been tracking signals confirming this top. Every once in a while, I stumble upon a significant stock that flashes a contrary sign and gives me pause. Cummins, Inc. (CMI) is a company with such a stock.

Cummins, Inc. has a market cap of $11.2B, and it is

Complete Story » Outsourcing Insider submits:

by Audrey B.

Competition is stiff in the outsourcing industry, which is why outsourcers really have to perform in order to not just meet their clients’ expectations, but to exceed it. Not to mention the sometimes extremely harsh public scrutiny that outsourcing companies are subjected to. Outsourcing companies are a dime a dozen now, and it’s easy to go from one to the other, especially if the one you’re with doesn’t deliver. Just take a look at the Satyam (SAY) - Punjab & Sind contract, which has now become the Wipro (WIT) - Punjab & Sind bank contract.

Complete Story » Trader Mark submits:

India's economy, which is still heavily dependent on agriculture, suffered through a weak monsoon season and GDP came in at only 6% versus 7.9% the previous quarter. However, a forecast for higher growth in the current quarter and a government pledge to address the deficit seemed to placate investors. We'll see how those promises work out in due time. For now, words are enough.

Via Bloomberg: (My comments in parenthesis)

Complete Story » Equitymaster submits:

The Union Budget 2010 brought some cheers to the Indian markets, which had been reeling under fear for the past few days with respect to the government's stimulus withdrawal. However, the Finance Minister did not tinker much with the stimulus but for partially rolling back some excise duty benefits. However, much of this seemed in line with what the markets had been expecting. Realty, auto, and metals stocks led today's gains.

The BSE Sensex and NSE Nifty closed with gains of around 175 points (1.1%) and 65 points (1.4%) respectively. Mid and small cap stocks also closed with gains. The BSE Midcap and BSE Smallcap indices closed higher by 1.5% and 1.1% respectively. On the broader BSE, one stock lost today for every two that closed in the positive.

Complete Story » Equitymaster submits:

The benchmark indices gave up almost all their losses during the closing hours of trade and ended virtually flat today. Thus, while the Sensex closed almost unchanged from yesterday's levels, Nifty also displayed a similar trend. BSE Mid cap and Small cap indices on the other hand ended somewhat lower today, losing 0.4% and 0.2% respectively. The advance to decline ratio on the Sensex was also quite evenly split today with there being nearly an equal number of gainers as well as losers.

Most Asian indices closed lower today whereas the majority of European indices have opened on a positive note. At the time of this writing, the rupee was trading at Rs 46.4 to the dollar.

Complete Story » Frank Holmes submits:

New Yorkers looking to catch a glimpse of the world’s hottest car have until late April to visit the Cooper-Hewitt National Design Museum, which is displaying the $2,200 Tata Nano as an achievement in efficient design.

I was fortunate enough to drive “the people’s car” on a recent trip to India (that’s me in the photo).

Complete Story » Trader Mark submits:

A few weeks ago we noted that the world's largest coal producer, Coal India, was on the hunt for global assets to expand its reach. [Feb 12, 2010: WSJ - World's Largest Coal Producer Has $6 Billion in the Bank and is on the Prowl for Assets] It appears this is now part of a broader national strategy mimicking what China has been doing the past half decade-plus.

If you have any Malthusian bones in your body, [Mar 24, 2008: WSJ - New Limits to Growth Revive Malthusian Fears] [Jun 20, 2008: World Population to Hit 7 Billion by 2012] you have to wonder - as certain countries waste all their national treasure on bailing out banks, financing the lifestyles of those who refuse to save for themselves and funding pet projects of their politicians, while others are attempting to snatch up as many long-lived assets across the globe as possible - what the long term implications will be. This is more or less parallel to a company that lives for today - happy to kick the can down the road - rather than spends heavily on R&D to prosper for tomorrow. Of course, any such national directives would be considered "socialistic" in certain countries, hence anathema to even consider as national policy. Oh well, much better to send countless paper monies out into the atmosphere to help prop up home prices and capital market values from going where they belong - a much sounder national directive.

Complete Story » Adrian Ash submits:

"I hate living in a world where gold is the only security remaining, but people have lost optimism, and I do not see anything to break this trend," said Peter Munk (or words to that effect, courtesy of English-German-English translation) at an investor meeting in Zurich on Tuesday.

Whether or not gold beats all other asset classes again this decade as it did from 2000-2010, "What drives gold is a changing world," the founder and chairman of the world's largest gold producer, Barrick Mining, is quoted as saying by the Tages Anzeiger newspaper. "We sit here at the beginning of a new world."

Complete Story » Equitymaster submits:

A bout of profit booking during the closing stages tipped the markets into negative territory and ensured they end the day marginally in the red. While BSE Sensex edged lower by around 30 points (down 0.2%), Nifty lost around 10 points (0.2%). BSE Midcap and Smallcap indices also toed the line of their larger counterparts and ended the day marginally in the red. Nearly two stocks declined or stayed flat for every stock that gained on the Sensex today. Auto and banking heavyweights in particular proved to be a drag today.

Among other regional indices, while those in Asia mostly ended the day in the red, their European counterparts are also trading weak currently. The rupee was trading at Rs 46.3 to the dollar at the time of this writing.

Complete Story » Equitymaster submits:

Rising material costs, fears of interest rate hike, and now a recall from a leading manufacturer has dealt a blow to auto stocks that led the losers’ list in today’s trade. Stocks from the oil and gas space also closed amongst the biggest losers today. However, gains were seen in realty and metal stocks, which brought some respite to the overall sentiment.

The BSE Sensex and NSE Nifty closed with gains of around 50 points (0.3%) and 20 points (0.4%) respectively. Mid and small cap stocks however closed in the red. The BSE Midcap and BSE Smallcap indices closed down by 0.6% and 0.9% respectively. On the broader BSE, just one stock gained today for every two that closed in the red.

Complete Story » Prieur du Plessis submits:

The video clips below provide a handy summary of the reports expected on the economic, financial and corporate front around the globe during the week ahead.

US: Washington, housing
Volume and volatility could pick up in markets that are sensitive to the dollar and Treasury auctions. Then there’s a GDP revision and a potential decline for the Case-Shiller index. But all eyes are on the health-care summit, hearings on Toyota (TM) and Fed chief Ben Bernanke on Capitol Hill.

Complete Story »