After two years of stagnation, things are finally looking up for Asia`s third largest economy. India, referred to by some as Asia`s sleeping giant, has seen gross domestic product (GDP) growth rates stuck below 5 percent for 8 straight quarters, damping hopes of an economic revival.
However, a pickup in economic activity over the past three months is restoring optimism around the country`s outlook. In a report released this week, Morgan Stanley outlined five key indicators that show growth is bottoming out:
1. Industrial production was better than expected for a second straight month in May, growing at its fastest pace since October 2012, helped by a combination of strong external demand and pick-up in domestic consumer demand.
2. Exports saw double-digit growth for a second consecutive month in June, as a recovery in global demand gained traction.
3. Non-oil, non-gold imports, an indicator of domestic demand, recorded positive growth for a second straight month in June.
4. Medium and heavy commercial vehicles sales growth, a barometer of economic activity and business confidence, turned positive for first time in 27 months in June.
5. Petroleum products consumption growth, another indicator of domestic demand, stood at a 17- month high in June.
NIFTY FUTURE Closed : 7833
Yesterday Nifty Future was closed all time high at 7833
Every lower level huge buying seen last four session
Our magic figure 7825 broken on Yesterday’s Trade
Made a high was 7839, Low was 7762.90 then closed 7833
U know last Two sessions FII’s figure was just below 100cr
Something wrong……….?? wait & see!!!
Nifty Future our magic figure 7825 crossed……..
Today’s facing Resistance 7840 to 7855 levels
Once if stays above 7855———- with volume then will try to Kiss 7875 & 7910 levels
Huge short covering will be expected any time!!!
Today’s Supports 7810 & 7790 levels……….
Overall Longs keep strict stop-loss 7750——— Below we see Panic selling!!!
101% Live market update to our clients only…….
Updated : 08.36am / 25th July’14
Banknifty Future closed 15557
Today’s Banknifty Future Resistance 15610 & 15650 levels
If crossover the levels———— then will check 15760 levels
There after we see Fire Work on the card!!!
Today’s Supports 15500 & 15450 levels……….
Lower level hurdle at 15350
More live market update to our clients only
ICICIBANK Looks very hot
Huge short covering expected above 1513
Expected Targets 1530 & 1550++ shortly!!
HDFCBANK above 848
Will move upto 855 & 860 levels……..
Watch on above levels!!
Updated : 08.34am / 25th July’14
TATAMOTORS facing Resistance at 488
Once if crossover the level
Rally expected upto 492, 495 Thereafter will check 502
Keep tight stop-loss ???
CENTURYTEX having Resistance 645 & 655
Lower level can buy around 633
Keep stop-loss of 627
HINDUNILVR now near by Strong Breakout level
Today once if Breaks the level
Rally will be expected……..
Which level will break ??
Clients special call
Updated : 08.19am / 25th July’14
The International Monetary Fund foresees the global economy expanding less than it had previously forecast, slowed by weaker growth in the United States, Russia and developing economies.
However, IMF has retained its GDP forecast for India unchanged at 5.4 percent for FY15 and 6.4% for FY16. IMF believes improved business sentiment is likely to offset impact of poor rains and aid economic recovery in India. It says Indian GDP growth appears to have bottomed out.
The lending organisation predicted today that global growth will be 3.4 per cent in 2014, below its April forecast of 3.7 per cent. The downgrade reflects much slower expansion in the US. The IMF now expects just 1.7 per cent US growth in 2014, the weakest since the recession ended five years ago.
That’s down from its April prediction of 2.8 per cent, mostly because of a sharp weather-related contraction in the first quarter. The US economy shrank at an annual rate of 2.9 per cent in the first three months of the year. US growth should rebound to 3 per cent in 2015, the IMF said. The IMF also slashed its outlook for Russia’s growth to just 0.2 per cent this year and 1 per cent in 2015. Russia’s conflict with Ukraine has caused a sharp drop in foreign investment. The IMF included its forecasts in a quarterly update to its World Economic Outlook report.
The weaker growth estimates underscore the need for central banks in advanced economies in the US and Europe to keep interest rates low, the report said. The Federal Reserve has pegged the short-term rate it controls at nearly zero for more than five years. But most economists expect the Fed to start slowly raising that rate in mid-2015. The European Central Bank has cut its benchmark rate to 0.15 per cent, a record low. It’s also placed a negative rate on the deposits it holds for commercial banks to try to get them to lend more.
The IMF also stressed that much of the downgraded forecast reflects temporary factors, such as harsh winter weather and a slowdown in inventory restocking in the United States. In a separate report Wednesday, the IMF said it expects the US economy to rebound in the April-June quarter at a healthy 3.5 per cent annual rate.
Drug major Ranbaxy today said it has inked a licensing pact with Canada’s Cipher Pharmaceuticals Inc to exclusively market its isotretinoin capsules, used to treat acne, in Brazil.
The licensing agreement extends Ranbaxy’s current relationship with Cipher, under which it is marketing isotretinoin capsules in the US under the brand ‘Absorica’, Ranbaxy Laboratories said in a statement. Isotretinoin is used in the treatment of severe recalcitrant nodular acne. Under the terms of the agreement, Cipher will receive an upfront payment and is eligible for additional pre-commercial milestone payments, it added.
Further, Cipher will be supplying the product and Ranbaxy will be responsible for gaining regulatory approval of the product in Brazil. “We are pleased to take this novel formulation of isotretinoin to the additional large market of Brazil…We will utilise our strong front-end capabilities in making this product available in Brazil,” Ranbaxy Executive Vice President & Head, Global Strategy, Sanjeev I Dani said.
The company plans to promote the product through a brand dermatology division in Brazil. “The isotretinoin formulation is expected to be a flagship product in Ranbaxy’s dermatology franchise in Brazil, once it achieves regulatory approval,” it added.
The euro pulled off 8-month lows against the dollar on Thursday after the bloc’s private sector expanded at its fastest rate in three months in July, and emerging equities hovered near 17-month highs after strong Chinese data.
European stocks edged up too after digesting Markit’s Composite Purchasing Managers’ Index (PMI) of companies across the euro zone and a good early indicator of overall growth. The overall index rose to 54.0 in July from 52.8, its highest since April. Any number above 50 indicates expansion.
The services sector across the 18-member bloc performed better than any of the 39 economists polled by Reuters had forecast, while manufacturers also reported a stronger month than suggested by the median Reuters forecast
“The activity data offsets some of the weakness we saw last month and that has helped the euro,” said Geoff Yu, currency strategist at UBS.
“But there are concerns about domestic growth in the euro zone and possible sanctions on Russia are likely to have an impact.”
The euro EUR= hit the day’s highs at $1.3471, pulling off eight-month lows, while the dollar index .DXY dropped from an earlier six-week peak. Against the yen, the U.S. dollar idled at 101.49 JPY=.
EU states will meet later on Thursday to discuss harsher measures against Russia for its continued involvement in Ukraine and support for pro-Moscow rebels whom Kiev accuses of shooting down a Malaysian Airlines plane last week, killing 298.
European stocks .FTEU3 rose 0.2 percent, reversing earlier losses on mixed earnings data and relatively weak manufacturing data from France, the euro zone’s second largest economy.
Benchmark emerging market stocks .MSCIEF, however, hovered near the previous session’s 17-month highs.
The HSBC flash PMI for China, the world’s second-largest economy, came in at 52.0 for July, well above forecasts and the highest reading in 18 months. There was also good news on the outlook, with a sub-index of new orders reaching 53.7. ECONCN