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| India Infoline Research Team / 08:50 , Mar 15, 2010 |
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Exhaustion seems to have got the better of the bulls and neither effort nor reward seems to be on the anvil. Stock indices continue to languish after a brief spurt post the Budget. The scenario is no different in global markets, though the US and Europe have held up well in the face of a few significant headwinds. |
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People choose the paths that grant them the greatest rewards for the least amount of effort.
Exhaustion seems to have got the better of the bulls and neither effort nor reward seems to be on the anvil. Stock indices continue to languish after a brief spurt post the Budget. The scenario is no different in global markets, though the US and Europe have held up well in the face of a few significant headwinds.
Emerging markets like India and China have actually under-performed in the past few sessions. It remains to be seen when this trend changes. For now though, it looks like the market will remain in a state of flux for a while before there is any meaningful movement.
At the cost of being repetitive, we expect yet another dull opening and perhaps another trigger-hunting day. Advance tax numbers might lead to some shift in the undertone, though it will not make a big difference. Monthly inflation numbers will be another factor to watch out for. Fed policymakers will meet on Tuesday for a monthly review. All eyes and ears will be glued for the latest cues from the US central bankers.
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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26.2
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1.1
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1.6
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HDFC Bk
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131.3
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(1.0)
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10.4
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ICICI Bk
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41.4
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(0.1)
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0.3
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ITC
|
5.7
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3.3
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(0.1)
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Infosys
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59.1
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(1.4)
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0.5
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Satyam
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5.3
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(2.8)
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21.6
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Ranbaxy
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10.2
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1.0
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(0.0)
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Reliance
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45.0
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1.0
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0.1
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Wipro
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23.0
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0.4
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47.0
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SBI
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92.3
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2.0
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2.4
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Tata Motors
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18.2
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(0.3)
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8.6
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Sterlite
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18.1
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1.0
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(0.5)
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L&T
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34.6
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0.1
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0.3
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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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17,167
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(0.0)
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1.7
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(1.7)
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Nifty
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5,137
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0.1
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2.1
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(1.2)
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BSE 100
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2,157
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(0.1)
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2.3
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(1.1)
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BSE 200
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6,789
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(0.1)
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2.8
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(0.8)
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CNX Midcap
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7,503
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(0.1)
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4.9
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0.9
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BSE Smallcap
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8,433
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(0.4)
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7.8
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0.9
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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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10,625
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0.1
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1.7
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1.9
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Nasdaq
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2,368
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(0.0)
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7.6
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4.3
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S&P 500
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1,150
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(0.0)
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3.8
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3.1
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FTSE
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5,626
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0.1
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6.4
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3.9
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CAC
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3,927
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(0.0)
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2.4
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(0.2)
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DAX
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5,945
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0.3
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2.3
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(0.2)
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Hang Seng*
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21,072
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(0.6)
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(3.4)
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(3.7)
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Nikkei*
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10,733
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(0.2)
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6.4
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1.8
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S&P/ASX200*
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4,803
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(0.3)
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2.8
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(1.4)
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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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2,987
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(0.9)
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(8.8)
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(8.9)
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Brazil Bovespa
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69,341
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(0.8)
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0.0
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1.1
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Mexico Bolsa
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32,578
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(0.1)
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2.1
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1.4
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Kospi*
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1,652
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(0.6)
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(0.8)
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(1.8)
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Micex
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1,416
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1.4
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6.3
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3.3
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Taiwan*
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7,693
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(0.7)
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(1.5)
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(6.1)
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Straits*
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2,884
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0.1
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3.0
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(0.5)
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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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447
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424
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14,227
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10,992
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MFs
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(244)
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-
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(2,501)
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(3,759)
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FIIs Prov.
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372
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MFs Prov.
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(91)
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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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80.8
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(0.5)
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14.3
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1.8
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Gold (US$/oz)
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1,104
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0.2
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(1.9)
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0.7
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Copper (US$/mt)
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7,412
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(0.3)
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9.1
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1.0
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Aluminium (US$/mt)
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2,230
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1.1
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(0.4)
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1.5
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Zinc (US$/mt)
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2,307
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(0.2)
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1.9
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(8.8)
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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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71
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658
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151
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1,027
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Dec
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128
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1,191
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290
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1,810
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Unch
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3
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65
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7
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90
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A/D ratio (x)*
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0.6
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0.6
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0.5
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0.6
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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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12,539
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(1.3)
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Cash BSE
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3,903
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(6.0)
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Total Cash
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16,442
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(2.5)
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Delivery (%)
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43.7
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-
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Derivatives
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64,653
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(2.4)
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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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45.45
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(0.4)
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2.8
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2.4
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Rs/EUR
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62.34
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(0.4)
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8.9
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6.9
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US$/GBP
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1.52
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(0.2)
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(6.8)
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(6.2)
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US$/EUR
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1.37
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(0.2)
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(5.5)
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(4.0)
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Yen/US$
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90.71
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0.2
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(1.2)
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2.5
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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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8.01
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0.02
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Call rate
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3.35
|
0.05
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