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Market Outlook
Sensex ends near days low : Replicating weak cues from the global markets, the Sensex opened on a cautious note at 17,089.22 with a marginal negative gap of 13.38 points.Thereafter, the markets gyrated around the day’s unchanged mark as Tata Motors tumbled down after Daimler Chrysler AG sold its 5.34% stake in the uto major. Thereafter, in the early afternoon session, the markets remained sluggish owing to selling pressure in the Metal and PSU stocks. ubsequently, in the late afternoon session, the markets cut their losses and ouched the intraday high of 17,130.83 after the junior Finance Minister Namo Narain Meena said that the Government will continue with the economic reforms to strengthen the economy. In the last session, the index touched the intraday low of 17,031.21 as European markets reversed their early gains and the US index futures edged lower. Finally, the Sensex managed to hold on to the 17,000 mark and ended the day at 17,052.54, slipping 50.06 points or 0.29%. The Nifty ended at 5,101.50, falling 22.50 points or 0.44%
Commodities Market : Crude oil declined as the dollar gained against the euro. Gold fell as a strengthening dollar reduced demand for the metal as an alternative asset and China said bullion probably won’t be the country’s main reserve investment. Copper prices recovered from earlier losses as rallying equity markets boosted the outlook for the US economy.
US markets advance and European markets decline : US markets rose on the anniversary of the 2009 bear-market low for the Standard & Poor’s 500 Index amid speculation the economy will continue to recover from the worst contraction since the Great Depression. The Dow Jones, S&P 500 and NASDAQ gained 0.11%, 0.17% and 0.55%, respectively. American International Group Inc. surged 13% on speculation the nsurer will sell more assets. United Technologies Corp., General Electric Co. and AT&T Inc. led gains in the Dow Jones Industrial Average. Boeing Co. advanced after Northrop Grumman Co. withdrew as a bidder for a US Air Force contract.
The benchmark FTSE 100 retreated, led by property companies after Liberty International Plc reported net asset value that missed analysts’ estimates. The FTSE 100 Index slipped 4.42 points, or 0.08%, and ended at 5,602.30. Liberty, the largest British mall owner, tumbled the most in more than least four months. Hammerson Plc and Segro Plc also declined. Imperial Tobacco Group Plc dropped 2.5% as UBS AG downgraded the shares.
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