Overcoming challenges

Having a dream is what keeps you alive. Overcoming the challenges make life worth living.

- Mary Tyler Moore

Another Independence Day has come and gone. The Prime Minister has promised that the Government will work hard for India's rapid economic growth and for shielding the country from the effects of the global economic slowdown. Blaming lack of political consensus for the logjam in many issues the PM says the time has now come to view the issues which affect our development process as matters of national security. The opposition has termed the PM’s speech as lackluster and uninspiring.

After a break, the Indian indices are expected to open slightly higher. The main US indices were mixed. Retail results from US will be on investors' radar later today. Asian stocks are in the green. The support came after Chinese Premier Wen Jiabao said easing inflation may give hopes of adjustments in monetary policy. Oil for September delivery rose 90 cents to $94.33 a barrel.

Investors will keenly await the outcome of the Sebi meet today which will consider a host of issues including new rules to protect investors’ interest including a provision for a‘safety net’ guarantee for IPO investors. Introduction of e-IPOs is also on the agenda.

ADR/GDR
	Latest (US$)	Price % chg	% Prem/Disc
Dr. Reddys	29.3	(0.4)	(0.9)
HDFC Bk	35.0	(0.7)	6.8
ICICI Bk	34.8	(0.5)	(0.3)
ITC	4.8	(0.2)	(0.0)
Infosys	41.4	0.6	(1.1)
Ranbaxy	9.0	(3.1)	(0.5)
Reliance	28.9	1.0	0.5
Wipro	8.1	0.5	26.0
SBI	75.0	0.6	9.3
Tata Motors	20.8	(0.9)	(1.7)
Sterlite	8.0	0.5	(1.9)
L&T	26.2	0.0	0.3

Indian market		% change
	Last close	1 day	3 mth	YTD
Sensex	17,728	0.5	8.6	14.7
Nifty	5,380	1.1	8.9	16.3
BSE 100	2,172	0.5	8.0	17.4
BSE 200	6,781	0.5	7.5	17.3
CNX Midcap	7,303	0.9	4.9	19.5
BSE Smallcap	6,596	0.3	4.1	18.9
Developed market		% change
	Last close	1 day	3 mth	YTD
Dow Jones	13,165	(0.1)	4.5	7.8
Nasdaq	3,031	0.5	5.5	16.3
S&P 500	1,406	0.1	6.1	11.8
FTSE	5,833	(0.5)	7.9	4.7
CAC	3,449	(0.0)	13.1	9.2
DAX	6,947	(0.4)	8.8	17.8
Hang Seng*	20,134	0.4	4.5	9.2
Nikkei*	9,057	1.5	2.9	7.1
S&P/ASX200*	4,310	0.7	3.5	6.3
* Markets are open
Emerging market		% change
	Last close	1 day	3 mth	YTD
Shanghai Comp	2,119	(0.0)	(9.7)	(3.7)
Brazil Bovespa	58,189	0.2	4.1	2.5
Mexico Bolsa	40,793	0.4	8.7	10.0
Kospi*	1,957	(0.0)	3.0	7.2
Micex	1,448	(1.0)	8.5	3.3
Taiwan*	7,511	0.6	3.8	6.2
Straits*	3,074	0.4	8.6	16.2
* Markets are open
Institutional activity
(Rs cr)	Cash	F&O	MTD	YTD
FIIs	362	160	4,349	42,194
MFs	(250)	-	(902)	(8,949)
FIIs Prov.	258
MFs Prov.	76
Commodities		% change
	Last close	1 day	3 mth	YTD
Crude (US$/bbl)	94.5	0.2	1.8	(4.4)
Gold (US$/oz)	1,606	0.2	4.3	2.7
Copper (US$/mt)	7,375	(0.4)	(5.4)	(2.8)
Aluminium (US$/mt)	1,796	(1.1)	(9.4)	(10.0)
Zinc (US$/mt)	1,781	(0.9)	(8.0)	(2.5)
Advance/Decline stocks
(Nos)	A	B	S	Total
Adv	119	1,022	271	1,412
Dec	83	1,007	295	1,385
Unch	1	94	41	136
A/D ratio (x)*	1.4	1.0	0.9	1.0
*A/D excluding Unch
Trade value
(Rs cr)			% chg
Cash NSE	9,385		5.6
Cash BSE	2,079		14.9
Total Cash	11,464		7.2
Delivery (%)	37.8		-
Derivatives	108,957		30.4
Currency		% change
	Last close	1 day	3 mth	YTD
Rs/US$	55.66	0.6	(3.1)	(4.7)
Rs/EUR	68.75	0.6	1.0	(0.0)
US$/GBP	1.57	(0.0)	(1.4)	0.9
US$/EUR	1.23	0.0	(3.3)	(5.1)
Yen/US$	79.17	0.2	1.5	(2.9)
Bond market
	Last Close (%)		Bps chg
10yr Gsec	8.22		0.02
Call rate	8.05		(0.10)