Futures point to lower open on Wall Street Tue Nov 10, 2009 4:52am EST * Stock index futures pointed to a lower open for U.S. shares on Tuesday, after they rose to a 13-month high in the previous session, on the G20`s indications that economic stimulus would continue. * At 0934 GMT, futures for the Dow Jones DJc1, S&P 500 SPc1 and Nasdaq NDc1 were down between 0.2 and 0.3 percent. * The FTSEurofirst 300 .FTEU3 index of leading European shares was up 0.1 percent at 1,102.91 points with HSBC (HSBA.L) higher but both Barclays (BARC.L) and Vodafone (VOD.L) lower after all three companies updated the market. * HSBC said losses on U.S. consumer loans had shown their first fall in three years. [ID:LA616591] * Senate Banking Committee Chairman Christopher Dodd will probably release a long-awaited draft bill on financial regulation reform. The bill is expected to propose consolidating bank supervision into one agency, to back the Obama administration`s proposed financial consumer watchdog and to call for a wide range of other proposals. One lobbyist said Dodd will hold a press conference at noon to unveil the bill. * Bank of America (BAC.N) chief executive Ken Lewis is scheduled to present at the Bank of America Merrill Lynch Financial Services Conference in New York. Lewis, who is set to retire at the end of the year, has no successor in place and audience questions are likely to centre on the search for a new CEO and ongoing legal issues surrounding the company. * In a relatively thin corporate diary, diversified manufacturer Tyco International (TYC.N) reports third-quarter results. Wall Street expects another drop in profit as the soft economy saps demand for industrial products. * Wall Street hit 13-month highs on Monday after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors` desire for risk. The agreement by G20 finance ministers and central bankers over the weekend to keep stimuli in place boosted global stocks on the expectation of prolonged low interest rates. [ID:nLQ516726] and [ID:nL9362990] * The Dow Jones industrial average .DJI jumped 2 percent; the Standard & Poor`s 500 Index .SPX rose 2.2 percent; the Nasdaq Composite Index .IXIC gained 2 percent. * Shares of Electronic Arts Inc (ERTS.O) and Priceline (PCLN.O) rose in after hours trading on Monday -- while those of NuStarEnergy (NS.N) and MBIA (MBI.N) fell -- after the companies released quarterly results. (Reporting by Brian Gorman; Editing by Hans Peters) ...

European markets trading with good gains: ATX 2,606.66 Up 5.20(0.20%) BEL-20 2,484.39 Up 0.09(0.00%) CAC 40 3,794.95 Up 9.46(0.25%) DAX 5,644.99 Up 25.27(0.45%) AEX General 314.71 Up 0.25(0.08%) OSE All Share 396.17 Up 1.92(0.49%) MIBTel 15,743.00 Down 174.00(1.09%) Madrid General 1,240.24 Up 6.88(0.56%) Swiss Market 6,389.71 Up 4.57(0.07%) FTSE 100 5,256.00 Up 20.82(0.40%)...

Stimulus exit hinges on global recovery: Pranab Mukherjee Published on Tue, Nov 10, 2009 at 15:37 | Updated at Tue, Nov 10, 2009 at 16:26 | Source : Reuters India will focus on driving domestic demand until key developed markets recover and will not exit fiscal stimulus measures until necessary, Finance Minister Pranab Mukherjee said on Tuesday. "There is a need of generating strong domestic demand until the robust recovery all over the world, particularly the developed world takes place," he told a World Economic Forum event in New Delhi. Mukherjee repeated his pledge for massive investments in agriculture sector and infrastructure, and acknowledged that it would not be easy for Asia`s third largest economy to compensate for the loss in exports through domestic demand. "It is not easy for us to diversify the market overnight and make up the loss so we shall have to wait for some time," he said. The finance minister was hopeful of economic growth of more than 7% in the fiscal year ending March, 2011. "Maybe in 2012 we will be able to reach the magic figure (of 9-10% growth)," he said. Policymakers including Prime Minister Manmohan Singh have pressed the case for keeping easy fiscal and monetary policies in place to nurture growth. "This cannot continue for a long period of time," Mukherjee said, referring to the exit from easy fiscal policy. "I have stated a number of times that in due course we shall have to take the corrective measures." Mukherjee also said he was not worried about the availability of food grains and the government would continue to import food items to meet any supply shortfall. India`s economic growth slowed to 6.7% in the fiscal year through March after three straight years of at least 9%, and government officials have said growth in the current year is on track for roughly 6.5%....

Exclusive: GST to have dual rates for Centre, states...

Fed rate stance to create more asset bubbles: Raghuram Rajan...

Global biggies look to India for fresh talent Published on Tue, Nov 10, 2009 at 12:45 | Updated at Tue, Nov 10, 2009 at 16:12 | Source : Moneycontrol The pick-up in the economy has given a much-needed push to hiring plans in India. Global technology services and consulting majors Accenture and Deloitte are leading the way and have drawn huge recruitment plans in India. While Accenture Chairman and CEO, William Green says that the company will be adding around 8,000 new people in India by the end of next year, taking its total employee strength to 50,000, Deloitte’s Global CEO Jim Quigley says that they too are on a hiring path. They plan to hire 15,000 employees in the course of three years from the current strength of 11,000. Yahoo Inc too has chalked out huge hiring plans as it plans to grow its operations in India, its chief executive Carol Bartz says. Among the domestic players, Mahindra Satyam is back to hiring once again. It is set to hire 120 employees in the next one month and has recalled 1,400 of its 6,000 employees who were on the bench. However, the hiring picture seems a bit gloomy for a number of IT majors, despite strong numbers by the top four giants in the sector. Though increments and promotions are back on track but hiring fresh recruits is not yet on the cards. Wipro is cautious and will look at fresh recruits only in the next two quarters. TCS has taken a similar call. Infosys has given wage hikes and will hire lateral employees in the third quarter. Kris Gopalakrishnan, CEO, Infosys, says, "Wage hikes have been given but we are still cautious. We are seeing recovery but we still maintain that the worst is not yet over and caution must be exercised." However, HCL Tech plays a different tune. It has not only given performance based increments but it will also go through its regular process of just-in-time hiring and will hire new employees as and when required. Like HCL Tech, Pramod Bhasin, President and CEO of Genpact says that the company has always been hiring. “Unfortunately, attrition means that you have to be in the hiring business anyway. So that will continue. Hiring will now increase and we expect it to accelerate both during the fourth quarter as well as into 2010.”...

# Fannie Mae tax credit decision could cost $5.2 bln- AP ...

Futures point to lower open on Wall Street
Tue Nov 10, 2009 4:52am EST

* Stock index futures pointed to a lower open for U.S. shares on Tuesday, after they rose to a 13-month high in the previous session, on the G20`s indications that economic stimulus would continue.

* At 0934 GMT, futures for the Dow Jones DJc1, S&P 500 SPc1 and Nasdaq NDc1 were down between 0.2 and 0.3 percent. * The FTSEurofirst 300 .FTEU3 index of leading European shares was up 0.1 percent at 1,102.91 points with HSBC (HSBA.L) higher but both Barclays (BARC.L) and Vodafone (VOD.L) lower after all three companies updated the market.

* HSBC said losses on U.S. consumer loans had shown their first fall in three years. [ID:LA616591]

* Senate Banking Committee Chairman Christopher Dodd will probably release a long-awaited draft bill on financial regulation reform. The bill is expected to propose consolidating bank supervision into one agency, to back the Obama administration`s proposed financial consumer watchdog and to call for a wide range of other proposals. One lobbyist said Dodd will hold a press conference at noon to unveil the bill.

* Bank of America (BAC.N) chief executive Ken Lewis is scheduled to present at the Bank of America Merrill Lynch Financial Services Conference in New York. Lewis, who is set to retire at the end of the year, has no successor in place and audience questions are likely to centre on the search for a new CEO and ongoing legal issues surrounding the company.

* In a relatively thin corporate diary, diversified manufacturer Tyco International (TYC.N) reports third-quarter results. Wall Street expects another drop in profit as the soft economy saps demand for industrial products.

* Wall Street hit 13-month highs on Monday after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors` desire for risk. The agreement by G20 finance ministers and central bankers over the weekend to keep stimuli in place boosted global stocks on the expectation of prolonged low interest rates. [ID:nLQ516726] and [ID:nL9362990]

* The Dow Jones industrial average .DJI jumped 2 percent; the Standard & Poor`s 500 Index .SPX rose 2.2 percent; the Nasdaq Composite Index .IXIC gained 2 percent.

* Shares of Electronic Arts Inc (ERTS.O) and Priceline (PCLN.O) rose in after hours trading on Monday -- while those of NuStarEnergy (NS.N) and MBIA (MBI.N) fell -- after the companies released quarterly results. (Reporting by Brian Gorman; Editing by Hans Peters) ...

European markets trading with good gains:

ATX 2,606.66 Up 5.20(0.20%)
BEL-20 2,484.39 Up 0.09(0.00%)

CAC 40 3,794.95 Up 9.46(0.25%)
DAX 5,644.99 Up 25.27(0.45%)
AEX General 314.71 Up 0.25(0.08%)
OSE All Share 396.17 Up 1.92(0.49%)
MIBTel 15,743.00 Down 174.00(1.09%)
Madrid General 1,240.24 Up 6.88(0.56%)

Swiss Market 6,389.71 Up 4.57(0.07%)
FTSE 100 5,256.00 Up 20.82(0.40%)...

Stimulus exit hinges on global recovery: Pranab Mukherjee
Published on Tue, Nov 10, 2009 at 15:37 | Updated at Tue, Nov 10, 2009 at 16:26 | Source : Reuters

India will focus on driving domestic demand until key developed markets recover and will not exit fiscal stimulus measures until necessary, Finance Minister Pranab Mukherjee said on Tuesday.
"There is a need of generating strong domestic demand until the robust recovery all over the world, particularly the developed world takes place," he told a World Economic Forum event in New Delhi.
Mukherjee repeated his pledge for massive investments in agriculture sector and infrastructure, and acknowledged that it would not be easy for Asia`s third largest economy to compensate for the loss in exports through domestic demand.
"It is not easy for us to diversify the market overnight and make up the loss so we shall have to wait for some time," he said.
The finance minister was hopeful of economic growth of more than 7% in the fiscal year ending March, 2011.
"Maybe in 2012 we will be able to reach the magic figure (of 9-10% growth)," he said.
Policymakers including Prime Minister Manmohan Singh have pressed the case for keeping easy fiscal and monetary policies in place to nurture growth.
"This cannot continue for a long period of time," Mukherjee said, referring to the exit from easy fiscal policy.
"I have stated a number of times that in due course we shall have to take the corrective measures."
Mukherjee also said he was not worried about the availability of food grains and the government would continue to import food items to meet any supply shortfall.
India`s economic growth slowed to 6.7% in the fiscal year through March after three straight years of at least 9%, and government officials have said growth in the current year is on track for roughly 6.5%....

Exclusive: GST to have dual rates for Centre, states...

Fed rate stance to create more asset bubbles: Raghuram Rajan...

Global biggies look to India for fresh talent
Published on Tue, Nov 10, 2009 at 12:45 | Updated at Tue, Nov 10, 2009 at 16:12 | Source : Moneycontrol

The pick-up in the economy has given a much-needed push to hiring plans in India. Global technology services and consulting majors Accenture and Deloitte are leading the way and have drawn huge recruitment plans in India.

While Accenture Chairman and CEO, William Green says that the company will be adding around 8,000 new people in India by the end of next year, taking its total employee strength to 50,000, Deloitte’s Global CEO Jim Quigley says that they too are on a hiring path. They plan to hire 15,000 employees in the course of three years from the current strength of 11,000.

Yahoo Inc too has chalked out huge hiring plans as it plans to grow its operations in India, its chief executive Carol Bartz says.

Among the domestic players, Mahindra Satyam is back to hiring once again. It is set to hire 120 employees in the next one month and has recalled 1,400 of its 6,000 employees who were on the bench.

However, the hiring picture seems a bit gloomy for a number of IT majors, despite strong numbers by the top four giants in the sector. Though increments and promotions are back on track but hiring fresh recruits is not yet on the cards. Wipro is cautious and will look at fresh recruits only in the next two quarters. TCS has taken a similar call. Infosys has given wage hikes and will hire lateral employees in the third quarter.

Kris Gopalakrishnan, CEO, Infosys, says, "Wage hikes have been given but we are still cautious. We are seeing recovery but we still maintain that the worst is not yet over and caution must be exercised."

However, HCL Tech plays a different tune. It has not only given performance based increments but it will also go through its regular process of just-in-time hiring and will hire new employees as and when required.

Like HCL Tech, Pramod Bhasin, President and CEO of Genpact says that the company has always been hiring. “Unfortunately, attrition means that you have to be in the hiring business anyway. So that will continue. Hiring will now increase and we expect it to accelerate both during the fourth quarter as well as into 2010.”...

# Fannie Mae tax credit decision could cost $5.2 bln- AP ...

CNBC`s so called experts suggest on Friday, October 30, 2009 that on Tuesday, November 3, 2009 our market will bounce back and see today the bounce back, lol. I think their bounce back means is bounce down and down....

Sumitji ek shair aapke liye:

Waqt dhoka de gaya mujhe lekin
Tumhari yaadein abhi baaki hai
Kitni jaldi doobta hai suraj aur raat
Doob jaati hai apne hi andhere mein....

12:30 pm : The Dow, Nasdaq, and S&P 500 have steadied their descent so that losses remain less than 1%. However, small-caps in the Russell 2000 and mid-caps in the S&P 400 are under more intense pressure, which has them down 1.7% and 1.3%, respectively.

Commodities are also under considerable pressure. With the Dollar Index now up 0.5%, the CRB Commodity Index has fallen to a 0.5% loss.

Meanwhile, Treasuries are faring well amid the weakness in stocks and commodities. As such, the benchmark 10-year Note is up some 17 ticks.DJ30 -82.22 NASDAQ -20.28 SP500 -9.98 NASDAQ Adv/Vol/Dec 590/1.06 bln/2002 NYSE Adv/Vol/Dec 815/575 mln/2144 ...

Where is the BIG BEIR MR. BULLSHEETRULES(BSR)?.....

Mkt rally may continue on strong liquidity flows: Analysts

Published on Wed, Oct 14, 2009 at 18:13 , Updated at Wed, Oct 14, 2009 at 19:40
Source : CNBC-TV18

Indian equity markets continue to rally. The markets maintained their uptrend for the second consecutive day and closed at a 17-month high on Wednesday. The Nifty closed above the 5,100 mark and the Sensex
ended above the 17,200 level for the first time since May 21, 2008. What is the road ahead?

Street view

Independent Analyst K Ramchandran said liquidity remains strong as a result of which the market may continue to go up. "However, one could witness volatility as it heads up."

With respect to earnings, Ramchandaran said that better results are expected this quarter and it would surprise the market on the positive side. “This could provide fresh ammunition for the markets to go up,” he said.

Deven Choksey of KR Choksey Securities is of the view that liquidity was still pouring into the markets. "Some of the foreign institutional investors (FII) are participating more than the retail investors and traders and are allotting their funds to the Indian market," he said. “This rally will continue and strengthen further if we see 5,100–5,500 crossing convincingly on the Nifty. The market will strengthen further due to liquidity,” he said.

Weak dollar good for market

Ramchandran is of the view that the rupee is likely to strengthen on the back of weak dollar internationally and that would result in large capital inflows into the Indian stock market....