Online
|
|
# "Black Friday" deals may not signal retail comeback- Reuters ...
# Cadbury hits record high as rival bidders circle- Reuters ...
# Dimon seen as successor to Geithner: report- Reuters ...
Stock Futures Point Higher- AP
Stock futures are pointing to a higher opening Monday as investors try to snap a three-day losing streak....
US investors look to data-heavy week for more clarity:
Investors are heading toward the final month of the year with more questions about the economy than they had just a few weeks ago...
Removal of 3 yr lock-in period for FDI in realty proposed
Published on Mon, Nov 23, 2009 at 17:09 | Updated at Mon, Nov 23, 2009 at 17:27 | Source : CNBC-TV18
The Department of Industrial Policy and Promotion (DIPP) has proposed the removal of the three-year lock-in for foreign direct investment (FDI) in realty, sources told CNBC-TV18. The lock-in period was a cautionary move against speculation.
Till date, no sector besides defence has a lock-in period. Portfolio investments also don`t have a lock-in period.
Draft Cabinet note for removal of lock-in has been circulated....
Accumulate Bharti Airtel: Phani Sekhar...
Gold hits record highs at $1,164.7/oz, up 32% YTD...
JSPL to divest 10% stake in Jindal Power IPO in FY10 ...
Monday, 23 November
4:48 PM - The Indian market extended gains for the second straight day on the back of good buying in key stocks. Positive global markets along higher US index futures contributed to the upward journey of the domestic bourses. However, stocks were little volatile during the early trading on some bouts of buying and selling ahead of the expiry of the F&O series on Thursday. Meanwhile, benchmark indices finally made a smart comeback during mid session and edged up to touch the day``s high. In addition, Reliance Industries Ltd also added to the rally on report that it made an offer to buy a controlling interest in US-based bankrupt petrochemicals company LyondellBasell Industries. The BSE Sensex ended above 17,100 level and NSE Nifty closed around 5,100 mark.
Market belled the day on pleasant note tracking some positive cues from the global markets. The Asian stocks were positive during early trading. However, The US stock market ended flat on Friday as a stronger dollar weighed on stocks for the entire session. Further the economic report came in worse than expected that also turned down the sentiments further. Going ahead, Indian stocks surged further on strong buying support from the investors across the board. The sentiment was boosted on the back reports that the government is considering expanding the scope of existing tax refund scheme to include exports sector. The finance ministry is soon likely to issue a notification in this regard. However, stocks also exhibited little volatility ahead of the expiry of the F&O series on Thursday. Finally, market gathered momentum and jumped to the day``s high as significant buying witnessed across the board. From the sectoral front, most of the buying was seen in Oil & Gas, FMCG, Metal, Pharma, Bank and PSU stocks. BSE Midcap and Smallcap indices also remained in buyer``s rad...
Stock futures point to higher opening
Stocks set to reverse 3-day losing streak; futures trading higher as dollar weakens
* By Stephen Bernard, AP Business Writer
* On 6:50 am EST, Monday November 23, 2009
NEW YORK (AP) -- Stock futures are pointing to a higher opening Monday as investors try to snap a three-day losing streak.
A weakening dollar is expected to help stocks, which have been trading in the opposite direction of the currency in recent months. As the dollar weakens, it has pushed the value of commodities higher because they become cheaper for foreign investors. Gold hit a new record high Monday. Strong commodity prices also helps push the price of energy and material stocks higher.
Stocks are also likely following strength overseas. European markets are sharply higher after new data showed the economic recovery is gathering pace in the 16 countries that use the euro.
U.S. investors will get plenty of economic data during the holiday-shortened week to sort through and determine if the stock market`s rally has outpaced any actual recovery in the economy. Multiple reports on the housing market and strength of the consumer as well as data on the nation`s total economic output in the third quarter will be released before the Thanksgiving holiday Thursday.
A new report Monday is expected to show existing home sales rose 1.4 percent in October as first-time homebuyers rushed to try and close purchases before a tax credit was set to expire. The credit, which was due to end at the end of the month, was subsequently extended into 2010.
The National Association of Realtors is expected to report sales rose to a seasonally adjusted annual rate of 5.65 million, up from 5.57 million in September, according to economists polled by Thomson Reuters. It would be the highest sales rate in more than two years.
The report is due out at 10 a.m. EST.
The collapse of the housing market helped push the economy into recession. Data on sales, prices and mortgage delinquencies continues to show a recovery in the sector remains choppy.
Ahead of the opening bell, Dow Jones industrial average futures rose 94, or 0.9 percent, to 10,397. Standard & Poor`s 500 index futures rose 11.50, or 1.1 percent, to 1,101.6, while Nasdaq 100 index futures gained 16.75, or 1 percent, to 1,780.25.
The dollar mostly fell against other major currencies. The ICE Futures U.S. dollar index declined 0.58 to 75.08.
Gold prices rose sharply, hitting a new record. Gold climbed $18.80 to $1,165.60 an ounce Monday. It rose as high as $1,167.80 earlier in trading.
Stocks slipped Friday for the third straight day amid ongoing worries about the pace of an economic recovery after computer maker Dell Inc. reported disappointing quarterly results. A stronger dollar also helped push stocks lower.
The Dow dipped 0.1 percent, while the S&P fell 0.3 percent. The tech-heavy Nasdaq composite index fell 0.5 percent.
Bond prices fell Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.38 percent from 3.37 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.02 percent from 0.01 percent.
As investors sold off stocks late last week, they moved into safer investments like bonds, which helped push yields of short-term government-backed debt to their lowest levels since last December amid the mushrooming credit crisis.
Overseas, Britain`s FTSE 100 rose 1.3 percent, Germany`s DAX index gained 1.5 percent, and France`s CAC-40 jumped 1.7 percent. Markets in Japan were closed for a holiday....
# Germany warns fellow EU gov`ts against GM jobs aid- AP ...
# Heritage Oil to sell Ugandan fields to Italy`s Eni- AP ...
# World markets rally as gold hits new record high- AP ...
# `New Moon` wolfs down $140.7M in opening weekend- AP ...
