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| India Infoline Research Team / 08:45 , Mar 17, 2010 |
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Bulls could extend Tuesday’s rally thanks to the Federal Reserve’s move to do nothing on its ultra loose monetary policy. What’s more, the US central bank offered a more optimistic assessment on the state of the labour market. |
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Nothing is often a good thing to do and always a clever thing to say - Will Durant
Bulls could extend Tuesday’s rally thanks to the Federal Reserve’s move to do nothing on its ultra loose monetary policy. What’s more, the US central bank offered a more optimistic assessment on the state of the labour market.
European stocks finished higher, extending gains late in the session after S&P said Greece was on track to meet its near-term budget goals.
Asian markets are mostly higher this morning. It’s a no-brainer that given the slightly optimistic global cues, the Indian market too will advance further. Whether it closes up or not is anybody’s guess. It’s best to do nothing with the stocks you hold now.
The Nifty could take a shot at 5300 in the near term, provided global markets remain firm. However, it may take a while for it to touch 5500. On the way down, strong support is now seen at 5100.
One cause for concern of late has been the low traded volume and constant selling by local funds. At the same time, volatility remains pretty low. One may see the main indices consolidate in a range of 5100-5300.
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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26.9
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0.4
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0.2
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HDFC Bk
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130.8
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0.6
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10.1
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ICICI Bk
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41.5
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2.5
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1.6
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ITC
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5.7
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0.2
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0.2
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Infosys
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60.1
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1.0
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0.3
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Satyam
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5.3
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0.0
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22.7
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Ranbaxy
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10.2
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1.5
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(2.0)
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Reliance
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46.8
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4.3
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(0.1)
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Wipro
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23.4
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0.5
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46.8
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SBI
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91.5
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1.1
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3.5
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Tata Motors
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18.5
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1.9
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7.3
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Sterlite
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18.4
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2.2
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1.1
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L&T
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35.2
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2.9
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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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17,383
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1.3
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2.9
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(0.5)
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Nifty
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5,198
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1.3
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3.1
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(0.1)
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BSE 100
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2,176
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1.1
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2.8
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(0.2)
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BSE 200
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6,843
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1.1
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3.2
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0.0
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CNX Midcap
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7,519
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0.6
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3.9
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1.2
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BSE Smallcap
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8,469
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1.3
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7.0
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1.3
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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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10,686
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0.4
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3.7
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2.5
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Nasdaq
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2,378
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0.7
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9.1
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4.8
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S&P 500
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1,159
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0.8
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5.8
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4.0
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FTSE
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5,620
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0.5
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7.7
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3.8
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CAC
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3,939
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1.2
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2.8
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0.1
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DAX
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5,971
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1.1
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2.2
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0.2
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Hang Seng*
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21,175
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0.7
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(0.8)
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(3.2)
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Nikkei*
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10,796
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0.7
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6.2
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2.4
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S&P/ASX200*
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4,830
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0.7
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3.4
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(0.8)
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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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3,003
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0.3
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(5.5)
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(8.4)
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Brazil Bovespa
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69,942
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1.3
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4.3
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2.0
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Mexico Bolsa
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32,724
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0.4
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2.4
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1.9
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Kospi*
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1,662
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0.8
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0.8
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(1.3)
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Micex
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1,421
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1.5
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4.4
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3.7
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Taiwan*
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7,802
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1.4
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0.8
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(4.7)
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Straits*
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2,899
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0.1
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3.1
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0.1
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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
|
389
|
709
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14,616
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11,381
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MFs
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(117)
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-
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(2,618)
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(3,875)
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FIIs Prov.
|
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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81.9
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0.2
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12.7
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3.2
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Gold (US$/oz)
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1,127
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(0.1)
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2.6
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2.7
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Copper (US$/mt)
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7,371
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1.4
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5.3
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0.4
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Aluminium (US$/mt)
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2,225
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1.4
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(0.7)
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1.3
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Zinc (US$/mt)
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2,277
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1.2
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(5.0)
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(10.0)
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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
|
157
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1,196
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263
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1,818
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Dec
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45
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647
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172
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1,026
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Unch
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0
|
57
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9
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76
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A/D ratio (x)*
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3.5
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1.8
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1.5
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1.8
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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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11,376
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5.0
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Cash BSE
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3,581
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10.3
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Total Cash
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14,956
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6.2
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Delivery (%)
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40.1
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-
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Derivatives
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79,943
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29.8
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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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45.59
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0.3
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2.5
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2.1
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Rs/EUR
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62.39
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(0.5)
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7.8
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6.8
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US$/GBP
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1.52
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(0.1)
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(5.7)
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(5.8)
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US$/EUR
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1.38
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0.0
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(4.0)
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(3.9)
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Yen/US$
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90.42
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0.1
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(0.5)
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2.9
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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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(0.01)
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Call rate
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3.25
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(0.03)
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