Asian shares rise; eyes on China inflation data
Asian shares pushed higher in line with gains in world markets as Chinese trade data buoyed optimism about the global recovery, but investors will be watching China's inflation data due later on Wednesday for any hints on further tightening.
Stocks in news: Centrum Capital, Elder Pharma, SBI, PFC
Centrum Capital | Marico | Elder Pharma | SBI | Power Finance Corp | Ranbaxy | RIL | Grasim| ABB and Apollo Tyres are stocks, which are in the news today.
ICRA assigns grade 2/5 to Rushil Decor IPO
ICRA has assigned grade 2/5 indicating below-average fundamentals to the proposed initial public offering of Rushil Decor (RDL), in its research report.
Ganeshaspeaks: Market prediction for May 11
9:15 to 10:15, Nifty may seem to be still deciding on the direction. Unlikely to go haywire though, it may be not very clear
Support for Nifty at 5500-5402: Gaba
The support for the Nifty is at 5500-5402 and resistance at 5623-5635.
Bond yields may trade with upward bias: Ramanathan K
The bond yields may trade with upward bias on account of recovery in oil prices, impending auction and worries about further rate hikes, says Ramanathan K, ING Invst Management.
Euro finmins to pressure Greece, approve Portugal aid
Euro zone finance ministers are likely to back a bailout for Portugal on Monday and tell Greece it must deliver on agreed fiscal and privatisation targets if it wants new emergency financing next year.
GM to invest $2 bn in 17 US plants
General Motors Co said on Tuesday it will invest about USD 2 billion in 17 US plants, including a facility here that makes transmissions for small cars, as the automaker shifts from recovery mode to investing in future products.
US recognises India's need for Iranian oil: Official
The United States recognizes that India will keep buying oil from Iran but is not actively suggesting ways to pay for it without violating international sanctions on Iran, a US Treasury official said.
Oil rises on flood threat to US refiners, China
Oil rose on Tuesday, supported by concerns that flooding could hit the US Gulf Coast refining hub and data showing strong Chinese crude imports for April.
China eases trade rules, allows US fund sales
China on Tuesday pledged easier access for US companies to key sectors of its economy by removing barriers to its huge market in government contracts and offering a foothold to US mutual funds.
Skype's owners made $5bn, 3 times money: Source
Skype's owners, led by private equity firm Silver Lake, will make more than three times their investment - a total capital gain of more than USD 5 billion - on sale of the company to Microsoft Corp, a source familiar with the deal said on Tuesday.
Wall St to Washington: Cuts alone won't fix US budget
A majority of top Wall Street bond dealers and money managers say spending cuts alone cannot solve the US budget problems and tax increases must be part of the mix.
Rupee to remain rangebound: N Subramaniam
The rupee is likely to be rangebound today, says N Subramaniam, Pinnacle Forex.
Crude rises to four-day high; trading at 104/bbl
Onto the commodities now oil rose to four-day high despite news that the CME group raised margins for crude futures by 25%.
Brent crude trades above USD 117/bbl
London Brent crude settled at USD 117.63 a barrel on Tuesday - it was holding the same level in morning trade. China daily crude import was 5.24 million barrels, up 2% on month-on-month basis.
F&O cues: Total Futures Open Int up Rs 506 cr
F&O cues: Total Futures Open Int up Rs 506 cr and Total Options Open Int up Rs 2299 cr.
Market cues: FIIs net buy $55 mn
Market cues: FIIs net buy USD 55 million in the cash market on May 09.
Asian markets trading firm; Hang Seng flat, Nikkei up
At 7: 49 am (IST), Asian markets were trading firm.
Indian ADRs: Wipro, Tata Comm, Sterlite gain
Indian ADRs ended mixed on Tuesday. In Banking space, HDFC Bank was down 0.59% at $ 162.59 while ICICI Bank was up 0.62% at $ 48.57. In Telecom space, Tata Communication was up 1.91% at $ 10.14 while MTNL was down 0.48% at $ 2.08.
BNP Paribas sees further downside to Sensex
Given the intensifying macro headwinds, political uncertainties and downside risks to earnings, we believe there might be further downside to Sensex, says Manishi Raychaudhuri of BNP Paribas.
US stocks advance amid Microsoft's $ 8.5 bn acquisition
In the US markets, stocks advanced amid Microsoft's USD 8.5 billion acquisition of Skype, strength in China's economy, and rising commodity prices.
ABB Q1 APAT seen down 27% at Rs 65 cr
ABB is expected to report adjusted profit after tax of Rs 65 crore for the January-March quarter 2011, down 27% as compared to Rs 88.9 crore in a year ago period.
US markets gain for 3rd consecutive day post big M&A news
The Dow Jones Industrial Average ended up 76 points at 12,760. NASDAQ Composite was up 29 points at 2,872 and S&P 500 Index rose 11 points at 1,357
Apollo Tyres Q4 PAT seen down 27% at Rs 87.3 cr
Apollo Tyres is expected to disappoint the street by its quarterly numbers. Unprecedented spike in rubber costs and lower contribution from Netherland subsidiary, Vredestein will continue to dent margins sequentially.
