Market Analysis: Weekly roundup till Sep 18
Sensex gained 4.2 per cent and closed at 19,594 during the week, while Nifty ended the week at 5,884 were up by 4.3 pc over its previous weekend"s close. During the week BSE Mid-cap gained 0.7 per cent and Small-cap indices was down by 0.1 pc respectively.
All the BSE sector indices closed in Green during the week. The BSE Bankex and Oil & Gas indices were the top gainers among sector indices by 5.9 pc and 5.5 pc respectively.
Going Forward
As per the market watchers, benchmark indices are likely to start the week on a firm footing. This rally is expected to continue even in Mid and Small-cap stocks.
It is further expected that, fund inflows will continue until US Fed and the European Central Bank raise the interest rates. A weak outlook on the dollar is also prompting many foreign investors to take an exposure to Indian equities.
Corporate
Suzlon
to
expand
wind
turbine
capacity
in
China
Suzlon
Energy
plans
to
expand
capacity
at
its
plant
in
China
as
the
Company
expects
to
return
to
profit
this
financial
year.
It
will
manufacture
turbines
capable
of
generating
a
combined
1000
MW
in
China
by
2013.
As
per
the
Company
reports,
China
will
remain
the
largest
market
for
the
next
10
years.
Suzlon is competing for orders with General Electric and European companies in introducing newer technology in China, which is one of the fastest growing green energy markets. The country plans to add 18 GW of wind capacity this year. But Suzlon is looking to form partnerships with Chinese companies to develop offshore wind projects using 5MW and 6MW turbines.
Maruti
gears
up
its
production
10
pc
more
from
Oct
2010
Maruti
Suzuki
India
is
likely
ramp
up
its
output
by
10
pc
to
produce
over
1,10,000
units
every
month
from
October.
With
this
level,
the
Company"s
annual
production
will
cross
1.3
million
units
in
2011-12,
compared
to
about
1.2
million
units
planned
for
this
financial
year.
As per the industry sources, Maruti Suzuki India has started work for increasing its production from last month and it plans to scale up the same to beyond 1,10,000 units a month from the current level of about 1,00,000 units.
Economy
Nasscom
may
pick
up
5
pc
stake
in
NSDC
Nasscom
is
likely
to
pick
up
a
5.1
pc
stake
in
the
National
Skill
Development
Corporation
(NSDC),
an
organization
set
up
by
the
Union
finance
ministry
to
lift
private
sector
participation
in
man
power
training
in
21
sectors
identified
by
the
government.
Nasscom
will
finalize
the
equity
pact
with
NSDC.
NSDC
has
an
equity
base
of
Rs
10
crore,
of
which
center
accounts
for
49
pc,
and
the
rest
holds
by
the
private
sector.
The private sector holders include chambers like Ficci, Assocham, CII, Credai, Confederation of Indian Textile Industry, Gems & Jewelery Export Promotion Council, Council of Leather Exports and the Society of Indian Automobile Manufacturers. Nasscom keenness for the NSDC pie comes at a time when the IT industry is facing an acute shortage of trained manpower.
Exports
up
22.5
pc
imports
grow
faster
at
32.3
pc
Exports
grew
22.5
pc
to
$16.6
billion
in
Aug
2010,
while
strong
demand
for
inputs
and
capital
goods
from
the
domestic
economy
saw
imports
increase
32.3
pc
to
$29.7
billion.
Trade
deficit
is
widened
to
$13.5
billion,
forcing
the
commerce
ministry
to
revise
the
projection
for
the
year
to
an
all
time
high
of
$135
billion.