Despite rally in EURO rate holds near opening levels, firms after yesterday's drop. Rate continues to hold support at 1.4740. More upside now due within 24 hours if dips continue to be bought above the 1.4720 area. Close near the 1.4850 area or above will confirm willing buyers on the dips; might have to wait for tomorrow.
Aggressive traders can look to ADD to open longs anytime looking for a push through and a close back above 1.5000. Some spillover from EURO likely. Good bids reported but supply seen from semi-official names overnight.
The USD lost ground today after a mixed open this morning; traders note that volumes remained lighter but there was no doubt which side the orders were on. After a slightly higher open in Equities this morning the prospects for the USD tracked the rise and fall in Equities during the day; turning lower into mid-day stocks posted losses before recovering to trade back through the opening range. The majors tracked the rise and fall through the day ultimately to end better on the day but off the traded highs.
Godrej Consumer Products Ltd (GCPL) acquired the remaining 50% stake in Godrej SCA Hygiene (GSH) from its joint venture partner, SCA Hygiene Products of Sweden. The transaction will make the joint venture company, which owns the 'Snuggy' brand of baby diapers, a 100 per cent subsidiary of GCPL.
December does not have its regular feel with maximum temperature on Wednesday touching 27.9 degrees Celsius, four notches above normal. However, the Met department predicts a drop in temperature from Thursday as wind patterns in the region are set to change.
The second India Zeitgeist report (globally the report is in its 9th year), which offers a perspective on the year’s major events and hottest trends based on searches conducted by users in India, declared that Bollywood actor Katrina Kaif is the most-searched person in India; that ‘recession’ does not figure among the top search for ‘economic terms’; that ‘How to reduce weight’ is a major concern among Indians; and that Goa is everyone’s favourite destination.
Madras Aluminum Company Ltd (MALCO), a part of London-listed Vedanta Resources Plc belonging to Anil Agarwal, has announced that it will ‘temporarily suspend’ aluminum production as price of the metal continues to fall on the London Metal Exchange.
Godrej Consumer Products Ltd (GCPL) acquired the remaining 50% stake in Godrej SCA Hygiene (GSH) from its joint venture partner, SCA Hygiene Products of Sweden. The transaction will make the joint venture company, which owns the 'Snuggy' brand of baby diapers, a 100 per cent subsidiary of GCPL.
December does not have its regular feel with maximum temperature on Wednesday touching 27.9 degrees Celsius, four notches above normal. However, the Met department predicts a drop in temperature from Thursday as wind patterns in the region are set to change.
The second India Zeitgeist report (globally the report is in its 9th year), which offers a perspective on the year’s major events and hottest trends based on searches conducted by users in India, declared that Bollywood actor Katrina Kaif is the most-searched person in India; that ‘recession’ does not figure among the top search for ‘economic terms’; that ‘How to reduce weight’ is a major concern among Indians; and that Goa is everyone’s favourite destination.
Madras Aluminum Company Ltd (MALCO), a part of London-listed Vedanta Resources Plc belonging to Anil Agarwal, has announced that it will ‘temporarily suspend’ aluminum production as price of the metal continues to fall on the London Metal Exchange.
