Web Tutorials4u

CAPITAL MARKET

MARKET PREVIEW MAR 3rd, 2010

• The market may extend last two days gains on firm Asian stocks. Finance minister Pranab Mukherjee’s bold budgetary proposals announced late last week which offered to progressively cut fiscal deficit over the next three fiscal years, changed personal tax rates which will lift disposable incomes in the hand of individuals and reduced surcharge on corporate tax for domestic companies to 7.5% from 10% in Union Budget 2010-2011 would continue to support the market.

• Asian stocks rose on Wednesday, 3 March 2010 as metal and oil prices advanced and concerns about Greece’s budget problems eased. The key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan rose by between 0.07% to 0.45%.But, hina’s Shanghai Composite fell 0.07%.

• In US markets- stocks erased most of their gains on Tuesday 2 March 2010 as tech stocks retreated. The Dow Jones rose 0.02% to 10405.98. Nasdaq gained 0.32% to 2280.79 and the S&P 500 rose 0.23% to 1118.31 .

• Exports rose an annual 11.5% in January 2010 to $14.3 billion, the third consecutive rise after 13 straight months of decline, the government said on Tuesday. Imports rose 35.5% from a year earlier to $24.7 billion. The trade deficit stood at $10.4 billion in January compared with $5.4 billion a year earlier. Exports for April-January, the first 10 months of the 2009/10 fiscal year, were down 17.8% at $131.9 billion from the same period in the previous year.

Leave a Response