Inflation eases further, dips to 8.84%
Inflation rate slipped for the third week in a row to 8.84 per cent for the week ended November 15 raising the hopes for further cut in key policy rates by the RBI.
Headlines for the day
Corporate News Headline
Sun Pharmaceutical has acquired US-based drug ingredients manufacturer Chattem Chemicals for an undisclosed amount. (BS)
SAIL said that the current economic crisis would have no impact on its ongoing expansion plan. (BS)
Tilaknagar Industries is setting up a Rs. 800 mn grain-based distillery at Ahmednagar in Maharashtra. (BS)
Economic and Political Headline
The government is considering a proposal to extend a sovereign guarantee of Rs. 150 bn to the Cotton Corporation of India to help it raise funds for procuring cotton at the minimum support price. (BS)
The chairman Montek Singh Ahluwalia said that the Planning Commission would recommend the government to provide additional budgetary support for infrastructure development. (ET)
The spending by the US consumers dropped 1% in October followed a 0.3% drop in September, signalling the economy is sinking into a deeper recession. (Bloomberg)
 | 2752.25 | ( 3.70 %) | 98.25 |  |
| 1 | 2 | 3 | ||
| Resistance | 2795.45 | 2838.65 | 2914.70 | |
| Support | 2676.20 | 2600.15 | 2556.95 | |
 | 9026.72 | ( 3.81 %) | 331.19 | | |
| 1 | 2 | 3 | |||
| Resistance | 9172.78 | 9318.85 | 9575.97 | ||
| Support | 8769.59 | 8512.47 | 8366.40 | ||
FII DATA
FII
26/11: -416.82 Cr. (Prov)
DII
26/11: 362.05 Cr. (Prov)
Strong & Weak futures
This is list of 10 strong futures:
Sterlin Bio, NTPC, IOC, BPCL, TTML, Hind Petro, IVRCL Infra, Glaxo, MTNL & GTL.
And this is list of 10 Weak Futures:
Havells, Penin Land, Bhushan Stl, BEML, HDIL, Uni Phos, Matrix Lab, Suzlon, Ansal Infra, Purva & Unitech.
Nifty is in Down Trend.
--Arvind Parekh
+ 91 98432 32381
