On 24 Nov 2013, Iran, USA and five other countries struck a deal aimed at curbing Iran’s nuclear programme in exchange for an easing of the sanctions against Iran. This may have significant implications for India which was Iran’s second-largest importer of oil. The easing of sanctions against Iran should result in lower oil prices, which will benefit India. However, as global demand for Iranian oil increases, Iran will become less dependent on India, and may stop accepting Indian rupees as part payment for oil and may favor trade with countries paying fully in US dollars.
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Stock Market Analysis – 12 March 2011
Market mood was negative on account of Japan Earthquake and ongoing unrest in Libya and middle east region and constant threat of spike in crude oil prices.
In the week closing 11 March 2011, the Indian stock Index S&P CNX Nifty traded in a tight range of 5560-5410. Nifty closed in red in three out of five trading days. Week-on-week basis, the Sensex was down by 312 points or -1.7%, to close at 18174.39 levels. The Nifty also closed in the red down by 93 points, or 1.7%, to close at 5445 for the week. Metals, Capital Goods and Banking stocks were the major losers, with heavy weights like Tata Steel, L&T, BHEL, State Bank faced selling pressure, where as Reliance Industries and Reliance Capital were the major gainers. Food inflation for the week ended Feb 26, 2011 was 9.52% (v/s 10.39% last week). IIP numbers were positive in India. In Feb 2011, exports were $23.6 bn (49.8% growth YoY) while imports were $31.7 bn (21.2% gr wth YoY). IIP nos for Jan 2011 came at 3.7% (street estimates: 2.7%) while the December IIP was revised from 1.6% to 2.5%. Continue reading Stock Market Analysis – 12 March 2011
Positive US Economic Data supports US stocks – 20 Jan 2011
20 Jan 2011: Wall Street tracked declines in equities around the world after growth in gross domestic product in China accelerated to a 9.8% rate in the final quarter of 2010. The faster-than-forecast growth rate bolstered concerns that China would do more interest-rate hikes to control inflation, thereby reducing Chinese demand for commodities and raw materials, potentially derailing the global economic recovery.
US stocks were in constant search of direction the whole day. For every five stocks climbing, nine fell on the NYSE, with nearly 1.2 billion shares traded. Stocks suffered a big loss in the initial trading hours but managed to move up later in the day as better than expected economic data tried to pull up stocks. A strong dollar and concerns that China might go for further tightening of its macro economic policies put a brake on this. Continue reading Positive US Economic Data supports US stocks – 20 Jan 2011