sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Markets »
 FM calms nerves, says no plan to tax market gains
 Why we must tweak the market-led model
 PE transactions prompt income tax queries over round tripping concerns
 Amended India-Mauritius tax treaty only covers investments in shares
 Government drops cap gains tax on startup shares held for 2 years
 Tax-free bonds regain demand in the secondary market
 Relevant Market’ Under Competition Act, 2002
 Indian markets best in terms of earnings momentum, price revision
 How India will become a common market with GST
 Broader markets outperform; Nifty holds 8,500
 Have Indian markets run ahead of fundamentals?

Market pares gains on inflation, Nifty June at 8 pts discount
June, 07th 2008

Positive global cues helped the Indian markets to open firm on Friday, but high inflation and rise in crude oil to $128 per barrel pushed investors to book profits at higher levels. Overseas, crude oil rose for the second day as the dollar headed for a weekly loss against euro, making investments in commodities attractive as a hedge against inflation.

Back home, India's wholesale price index based inflation for the week ended May 24 rose by 8.24 per cent against 8.10 per cent rise in the previous week. Though still high and a serious concern, the number was heartening as market expecting inflation in double digits.

At 12:08 pm, NSE 50-share Nifty was lower by 0.10 per cent at 4672. Nifty June futures was at discount of 8 points to the spot against a premium on Thursday. The futures price slipped 0.48 per cent while it added 5 per cent in open interest. The cost of carry was also negative, indicating short build up.

Nifty call of strike 4700 added 46 per cent in open interest and 4800 added 19 per cent. However, Nifty 5000 call shed 5 per cent in open interest, indicating strong resistance in the 4700-4800 zone. Puts of strikes 4600 and 4500 added 3 per cent and 5 per cent respectively, where Nifty may get support.

In stocks futures, Reliance Industries June price slipped 0.73 per cent, Cairn India contract soared 7.2 per cent, Reliance Petroleum fell 0.24 per cent while ONGC dropped 1.48 per cent.

Tata Steel June price slid 0.49 per cent and open interest added 2 lakh shares. Reliance Capital futures price fell 0.47 per cent and open interest shed 72,000 shares. Suzlon June jumped 5 per cent, NTPC skid 1.5 per cent and Reliance Infra marginally gained 0.6 per cent.

HDIL June futures price dropped 1 per cent, DLF price decreased by 1 per cent and Unitech fell 0.71 per cent.

ICICI Bank price increased 0.77 per cent on short covering while State Bank of India near month contract was down 0.5 per cent.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions