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India Infoline Research Team / 08:40 , Feb 23, 2012
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Rest is the sweet sauce of labor.
- Plutarch
Finally, we witnessed what many would call a meaningful correction. The indices deserved some rest after all. Red flags have been raised over the seemingly unstoppable rally. Wednesday’s drop was only the second such fall this year. That goes to show the groove that the market is in, thanks largely to the liquidity deluge unleashed by global central banks. Wednesday’s provisional FII figure should provide some succor on the F&O expiry day.
The start is likely to be rather subdued. Barring China, most Asian markets are down. US indices paused after a three-session winning streak. European markets finished lower amid doubts over the second bailout for Greece.
Fitch Ratings cut Greece's sovereign credit rating to C from CCC. The eurozone's composite PMI fell in February, raising the specter of recession. Europe and Greece may continue to be in the spotlight in the coming days as well.
Crude is at a nine-month peak while gold is at three-month high. The dollar is at seven-month high vs. the yen. We could see a choppy session with intraday gyrations possibly peaking in the afternoon.
ADR/GDR
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Latest (US$)
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Price % chg
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% Prem/Disc
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Dr. Reddys
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33.5
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0.8
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0.1
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HDFC Bk
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34.6
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(3.1)
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6.9
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ICICI Bk
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38.6
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(3.0)
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(0.8)
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ITC
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4.2
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2.6
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(0.2)
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Infosys
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60.1
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0.9
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0.2
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Ranbaxy
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8.9
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(2.5)
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0.3
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Reliance
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34.2
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(0.4)
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1.0
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Wipro
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11.3
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1.3
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25.9
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SBI
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92.0
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(6.7)
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0.4
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Tata Motors
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27.7
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0.4
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1.5
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Sterlite
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10.0
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(5.1)
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3.3
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L&T
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28.9
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(1.3)
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(0.0)
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Indian market
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% change
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Last close
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1 day
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3 mth
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YTD
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Sensex
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18,145
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(1.5)
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15.6
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17.4
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Nifty
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5,505
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(1.1)
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17.0
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19.1
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BSE 100
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2,226
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(2.3)
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14.4
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20.3
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BSE 200
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6,961
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(2.4)
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14.1
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20.5
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CNX Midcap
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7,677
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(3.1)
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16.7
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25.6
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BSE Smallcap
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6,969
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(3.2)
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14.6
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25.6
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Developed market
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% change
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Last close
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1 day
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3 mth
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YTD
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Dow Jones
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12,939
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(0.2)
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14.9
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5.9
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Nasdaq
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2,933
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(0.5)
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19.2
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12.6
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S&P 500
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1,358
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(0.3)
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16.9
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8.0
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FTSE
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5,917
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(0.2)
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15.1
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6.2
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CAC
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3,447
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(0.5)
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22.1
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9.1
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DAX
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6,844
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(0.9)
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25.4
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16.0
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Hang Seng*
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21,369
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(0.8)
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19.6
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15.9
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Nikkei*
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9,546
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(0.1)
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14.8
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12.9
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S&P/ASX200*
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4,272
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(0.5)
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5.5
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5.3
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* Markets are open
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Emerging market
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% change
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Last close
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1 day
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3 mth
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YTD
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Shanghai Comp
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2,407
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0.1
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0.5
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9.4
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Brazil Bovespa
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66,093
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(0.2)
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20.2
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16.5
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Mexico Bolsa
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37,913
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0.1
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7.2
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2.3
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Kospi*
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2,007
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(1.1)
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12.6
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9.9
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Micex
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1,538
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(1.3)
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9.7
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9.7
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Taiwan*
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7,955
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(0.6)
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16.9
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12.5
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Straits*
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2,982
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(0.5)
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11.4
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12.7
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* Markets are open
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Institutional activity
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(Rs cr)
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Cash
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F&O
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MTD
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YTD
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FIIs
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1,495
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(411)
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15,311
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16,604
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MFs
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(14)
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-
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(1,682)
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4,139
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FIIs Prov.
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830
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MFs Prov.
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(1,333)
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Commodities
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% change
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Last close
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1 day
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3 mth
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YTD
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Crude (US$/bbl)
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105.8
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(0.5)
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10.0
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7.0
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Gold (US$/oz)
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1,774
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(0.1)
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4.8
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13.4
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Copper (US$/mt)
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8,433
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(0.1)
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15.5
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11.1
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Aluminium (US$/mt)
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2,238
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1.2
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9.2
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12.2
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Zinc (US$/mt)
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2,048
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2.0
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5.7
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12.1
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Advance/Decline stocks
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(Nos)
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A
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B
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S
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Total
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Adv
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33
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456
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278
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769
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Dec
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172
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1,612
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421
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2,208
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Unch
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0
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71
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35
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106
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A/D ratio (x)*
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0.2
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0.3
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0.7
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0.3
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*A/D excluding Unch
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Trade value
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(Rs cr)
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% chg
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Cash NSE
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18,502
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16.5
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Cash BSE
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3,773
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10.0
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Total Cash
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22,275
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15.4
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Delivery (%)
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38.6
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-
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Derivatives
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224,413
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46.2
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Currency
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% change
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Last close
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1 day
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3 mth
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YTD
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Rs/US$
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49.23
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(0.2)
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6.3
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7.8
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Rs/EUR
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65.17
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(0.0)
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9.0
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5.5
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US$/GBP
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1.57
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(0.0)
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0.9
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0.8
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US$/EUR
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1.32
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0.0
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(0.7)
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2.2
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Yen/US$
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80.20
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(0.1)
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(3.6)
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(4.1)
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Bond market
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Last Close (%)
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Bps chg
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10yr Gsec
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8.22
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0.00
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Call rate
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8.50
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(0.35)
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