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| India Infoline Research Team / 08:44 , Mar 18, 2010 |
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Call it window dressing, short-covering or anything you like; the indices which struggled for some time post the Budget, is now steadily moving up. The Nifty now looks set to conquer its previous 52-week high of 5311 shortly, unless something untoward takes place in the interim. |
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You can go a long way with bad legs and a good head - Gavin McDonald
Call it window dressing, short-covering or anything you like; the indices which struggled for some time post the Budget, is now steadily moving up. The Nifty now looks set to conquer its previous 52-week high of 5311 shortly, unless something untoward takes place in the interim.
FII inflows have been consistently positive but the local funds have been sellers. With the fiscal year drawing to a close, there may be some ‘window dressing’ by the local funds to perk up NAVs. If that does happen, the Nifty could well scale new heights. Even as the markets move, there is a lingering fear that April may be cruel.
Today we expect a positive opening with markets in the US and Europe hitting new 2010 peaks. Asian markets though are mixed and relatively subdued. Hopefully, that shouldn’t deter the bulls here in India.
In the event of a fresh fall, the Nifty may find support at 5175. One big challenge will be to sustain above 5300 amid growing concerns over stubbornly high inflation and an impending rate hike.
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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27.5
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2.5
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1.6
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HDFC Bk
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131.2
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0.3
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9.8
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ICICI Bk
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42.6
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2.6
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1.7
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ITC
|
5.8
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1.6
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0.1
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Infosys
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61.1
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1.7
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1.3
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Satyam
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5.2
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(0.9)
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21.4
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Ranbaxy
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10.4
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1.5
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(0.8)
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Reliance
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47.3
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1.2
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0.4
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Wipro
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24.2
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3.3
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48.6
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SBI
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93.0
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1.6
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4.0
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Tata Motors
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18.8
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1.5
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9.1
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Sterlite
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18.6
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0.9
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1.2
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L&T
|
36.1
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2.6
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0.6
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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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17,490
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0.6
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4.6
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0.1
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Nifty
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5,232
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0.7
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4.9
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0.6
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BSE 100
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2,188
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0.6
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4.3
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0.4
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BSE 200
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6,878
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0.5
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4.6
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0.5
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CNX Midcap
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7,570
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0.7
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5.4
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1.8
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BSE Smallcap
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8,458
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(0.1)
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7.3
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1.2
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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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10,734
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0.4
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3.9
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2.9
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Nasdaq
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2,389
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0.5
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8.0
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5.3
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S&P 500
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1,166
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0.6
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5.8
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4.6
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FTSE
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5,645
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0.4
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8.6
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4.3
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CAC
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3,958
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0.5
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4.3
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0.5
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DAX
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6,024
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0.9
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3.3
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1.1
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Hang Seng*
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21,417
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0.2
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1.1
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(2.1)
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Nikkei*
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10,824
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(0.2)
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6.7
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2.6
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S&P/ASX200*
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4,858
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0.1
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4.5
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(0.3)
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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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3,059
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0.3
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(1.8)
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(6.6)
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Brazil Bovespa
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69,723
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(0.3)
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4.4
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1.7
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Mexico Bolsa
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32,798
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0.2
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3.0
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2.1
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Kospi*
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1,684
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0.1
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2.3
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0.1
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Micex
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1,435
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1.0
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4.9
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4.8
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Taiwan*
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7,883
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0.4
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1.7
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(3.7)
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Straits*
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2,910
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(0.3)
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3.8
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0.4
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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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1,353
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1,531
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15,751
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12,734
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MFs
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-
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-
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(2,318)
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(3,875)
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FIIs Prov.
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378
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MFs Prov.
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(159)
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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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82.6
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(0.3)
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12.6
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4.1
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Gold (US$/oz)
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1,124
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0.3
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0.9
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2.4
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Copper (US$/mt)
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7,499
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1.7
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9.9
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2.1
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Aluminium (US$/mt)
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2,261
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1.6
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3.6
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2.9
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Zinc (US$/mt)
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2,318
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1.8
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(1.8)
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(8.4)
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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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107
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798
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191
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1,250
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Dec
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95
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1,050
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244
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1,586
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Unch
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0
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74
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10
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92
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A/D ratio (x)*
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1.1
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0.8
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0.8
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0.8
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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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14,264
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25.4
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Cash BSE
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4,854
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35.6
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Total Cash
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19,118
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27.8
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Delivery (%)
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43.2
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-
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Derivatives
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98,323
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23.0
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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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45.36
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(0.5)
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3.4
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2.6
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Rs/EUR
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62.09
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(0.4)
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7.9
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7.3
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US$/GBP
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1.53
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(0.2)
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(5.4)
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(5.4)
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US$/EUR
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1.37
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(0.1)
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(4.3)
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(4.2)
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Yen/US$
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90.28
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(0.0)
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0.2
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3.0
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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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7.97
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(0.04)
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Call rate
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3.25
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0.00
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