OUR SELL TARGET

CANBK

SELL BELOW @

367.6

TARGET

366.2

363

357

STOP LOSS

370.2

more tips and target see on
www.marketfutureindia.com

Five low-intensity blasts hit Pune; sixth defused

PUNE: At least five low-intensity explosions were heard in different parts of Pune city Wednesday evening, police said.

The blasts, that occurred in a diameter of 300 metres and in the space of thirty minutes have reportedly left two injured.

One of the blasts took place at the Bal Gangadhar Chowk near the Rangsharda auditorium on the busy Junglee Maharaj Road and another in a dustbin outside a McDonalds outlet nearby around 7.30 p.m., police said.

A third explosion occurred near the Dena Bank in the same area, triggering panic among people during the evening peak hour.

A fourth explosion went off on a bicycle at Garware Chowk on the same road.

Home secretary RK Singh said that terror angle cannot be ruled out since it was a planned blasts.

A man who was injured in the blast was taken into custody as he was suspected of carrying one of the bombs.

"The blasts appear to be well-coordinated," a police officer said.

According to reports, a sixth bomb was diffused near a McDonald joint in the city.

The explosives were planted in a garbage can outside a food plaza and on a bicycle. 

A team of Maharashtra ATS has reached the spot and started the investigations. CCTV footage are being viewed, and alert has been sounded across the state.

Home minister Sushil Kumar Shinde was scheduled to be in the city tonight for a ceremony but cancelled his trip in the last moment.

In 2010, more than 14 people were killed in the German Bakery bomb blast in the city.
yahoo news
www.marketfutureindia.com

Exports fall over 5% to $25.1 billion in June

New Delhi: India's exports contracted for second month in June by 5.45 percent to USD 25.1 billion in June, while imports fell 13.46 percent to USD 35.4 billion, leaving a trade deficit of USD 10.3 billion, government data showed on Wednesday.

The trade deficit for April - June, 2012-13 was estimated at USD 40055.45 million which was lower than the deficit of USD 46233.94 million during April -June, 2011-12. 

India’s Exports during June, 2012 were valued at USD 25067.20 million (Rs. 140452.05 crore) which was 5.45 percent lower in Dollar terms (18.11 percent higher in Rupee terms) than the level of USD 26511.62 million (Rs. 118914.17 crore) during June, 2011. 

Cumulative value of exports for the period April-June 2012 -13 was USD 75203.96 million (Rs 407055.99 crore) as against USD 76507.51 million (Rs 342163.55 crore) registering a negative growth of 1.70 percent in Dollar terms and growth of 18.97 percent in Rupee terms over the same period last year.

India’s Imports during June, 2012 were valued at USD 35370.57 million (Rs.198182.00 crore) representing a negative growth of 13.46 per cent in Dollar terms (growth of 8.11 percent in Rupee terms) over the level of imports valued at USD 40870.18 million ( Rs. 183317.46 crore) in June, 2011. 

Cumulative value of imports for the period April-June, 2012-13 was USD 115259.41 million (Rs. 623266.64 crore) as against USD 122741.45 million (Rs. 549000.58 crore) registering a negative growth of 6.10 percent in Dollar terms and growth of 13.53 percent in Rupee terms over the same period last year.

Oil imports during June, 2012 were valued at USD 12688.6 million which was 4.43 percent lower than oil imports valued at USD 13276.9 million in the corresponding period last year. 
ZEEBIZ NEWS
www.marketfutureindia.com

Global markets trade within tight ranges, eyes on central banks

(Reuters) - Weak growth numbers from Asia sent the dollar to a two-month low against the yen on Wednesday but most markets traded within tight ranges awaiting the verdict from policy making meetings of the U.S. Federal Reserve and the European Central bank.

The greenback's fall against the Japanese currency to A low of 77.90 yen came after China's official factory purchasing managers' index fell to an eight-month low of 50.1 in July, suggesting virtually no growth.

The data underscored that the world's second-biggest economy is losing momentum, and followed signs of decelerating growth from other major Asian exporters including Japan, South Korea and Taiwan.

European PMI data for July due out later is likely to add to the picture of gloom about the global growth outlook.

However, despite the weaker data most analysts still only expect the Federal Reserve to signal its readiness to act in future at the conclusion of its two-day meeting later today while divisions among European leaders could stall any action from the ECB on Thursday.

"As a result of the uncertainty and potential savage market reaction, caution is likely to persist until investors have the benefit of these crucial central bank decisions," IG Markets said in a note.

A string of better corporate results helped lift European shares ahead of the ECB meeting with the FTSE Eurofirst 300 index of top European shares rising 0.15 percent to 1064.88 points. The index posted a solid 4.1 percent gain for July, its second-best monthly gain of the year.

The single currency gained just 0.1 percent against the dollar to $1.2320, below its three-week high of $1.2390 hit last week.

(Reporting by Richard Hubbard; Editing by Anna Willard)

www.marketfutureindia.com

High inflation may prevent RBI from cutting rates

NEW DELHI: In view of high inflation and deficient monsoon rainfall, the Reserve Bank may find it difficult to cut the key lending rate to boost the economy as is being demanded by the industry.

Although bankers expect RBI to cut the cash reserve ratio (CRR) by up to 0.50 per cent in the monetary policy review on Tuesday, it would not be possible for the central bank to heed to India Inc's demand as inflation, at over 7 per cent, is much above its comfort level.

Moreover, uncertainty over monsoon is likely to put pressure on prices of essential commodities.
On an average, rainfall deficiency across the country is 21 per cent so far.

RBI governor D Subbarao will unveil the first quarter policy review and if his recent comments on inflation as well as fiscal and current account deficit numbers are any indication, it may turn out to be a non-event.

While GDP growth hit a nine-year low last fiscal at 6.5 per cent, WPI-based inflation was at 7.25 per cent in June. Retail inflation is hovering at 10.02 per cent. RBI had left policy rates and CRR -- a portion of deposits that banks are required to keep with the central bank -- unchanged at the last meeting on June 16.

Meanwhile, Subbarao said recently that RBI will study the relationship between high interest rates and growth slowdown. Bankers, meanwhile, have said that they expect a 0.5 per cent reduction in CRR, which currently stands at 4.75 per cent. They, however, do not see a reduction in the repo rate from the current 8 per cent. "We expect a 50 basis point reduction in CRR to ease money supply. Also a CRR cut will have a cooling effect on the interest rates for customers apart from better effect on monetary transmission than a repo cut," State Bank of India chairman Pratip Chaudhuri said.
The Times Of India News
www.marketfutureindia.com

North India blackout: 7 states suffer, govt promises power back by late afternoon

Power supply in seven states across north India was hit early on Monday following a breakdown in the Northern Grid, an official said. Apart from Delhi, supply in Punjab, Haryana, Himachal Pradesh, Uttar Pradesh, Rajasthan and Jammu and Kashmir were disrupted.
Millions of people have
related stories
Power minister Shinde points to US power blackout of 2003
Delhi goes 'powerless' as northern grid collapses
Power failure: airport services remain unaffected
Delhi Metro services resume on all lines
Northern grid failure: 200 trains running behind schedule
been affected due to the power failure. Speaking to the media, Power minister Sushil Kumar Shinde said 60% of supply has been restored in the northern region.

He also said that essential services have been restored and the remaining will be restored in around 2 hours. The minister also said a probe has been ordered into the failure of power in the northern region.
Hindustan times News
www.marketfutureindia.com

Tamil Nadu Express fire: 32 feared dead, probe ordered

Nellore: A major fire engulfed one of the coaches of the Chennai-bound Tamil Nadu Express in Nellore, Andhra Pradesh on Monday morning. Thirty two people were said to have died in the incident and 25 people were said to be injured.
The death toll is likely to rise further.
The Chairman of the Railway Board and Railway Minister Mukul Roy are expected to reach the site shortly. An ex-gratia relief of Rs 5 lakh to the relatives of the dead has been announced. In addition, an ex-gratia of Rs 1 lakh will be paid to the grievously injured and an ex-gratia of Rs 25,000 will be paid to the simple injured passengers.
The Railway Minister has also ordered an inquiry into the incident.
Meanwhile, relief and restoration work is underway at the site.
The incident occurred at around 4:30 am when the Nellore station manager noticed the fire in one of the bogies of the train, officials said.
The train was immediately brought to a halt and the fire brigade was pressed into service and the blaze was extinguished, they said.
The cause of the fire is yet to be determined, however, it was suspected to be caused by a short circuit in the coach, they added.
CPRO of the South Central Railway Sambasiva Rao said that a special train would be leaving from Chennai to Nellore at 9.30 am. "It is too early to comment on the cause of fire. Rescue operations are on. Only one coach was affected in the fire. Nearly 25 people were injured. They have all been admitted to a nearby hospital. A special train will leave from Chennai to Nellore at 9.30 am for rescue operations," he said.
The S-11 coach had around 72 passengers, said sources.
Chief Minister Kiran Kumar Reddy has directed the district administration to provide immediate medical relief to the injured.
Meanwhile, gas cutters are being used to cut through the coach and recover more bodies.
Helpline numbers
A help desk has been opened at the Chennai Central Station to give information on the fire. The phone numbers are 044-25357398 and 044-25330821.
The helpline numbers at Nellore are 0861-2345863, 864, 865, 866 and 0866-2576924; At Secunderabad: 040–27786723, 27700868, 27786539; At Warangal: 0870-2426232, 09701371063.
Meanwhile, the Northern Railway has opened helpline numbers 011-23342954, 23341072, 23341074 at New Delhi Station and 011-24359748 at Hazrat Nizamuddin Station.
VSK Komdi, Additional DG Railways, Andhra Pradesh has also appealed anxious relatives of passengers of the S-11 coach to send particulars of their near and dear ones to the following email-id: apgrp@yahoo.com.
Meanwhile, the Indian Railway has announced Rs 5 lakh ex-gratia relief to the relatives of the dead. In addition, an ex-gratia of Rs 1 lakh will be paid to the grievously injured and an ex-gratia of Rs 25,000 will be paid to the simple injured passengers.
The list of the injured
At Government Hospital, Nellore:
1) KK Sunil Kumar, New Delhi-Chennai
2) Amarpreet Singh, New Delhi-Chennai (S11-57)
3) Venkata Koteshwar Rao, Vijayawada-Chennai (S11-32)
4) Raghavan, Bhopal-Chennai
5) Sandeep Agnihotri, New Delhi-Chennai
6) SS Verma (S11-22)
7) Veena, along with Baby Arshitha of 1year age, New Delhi-Chennai (S11-63)
8) Hussain, New Delhi-Chennai (S11-47)
9) Rekha, New Delhi-Chennai (S11-5)
10) Sukhdeep Singh (S11-59)
11) Sambasiva Rao
At Peoples Poly Clinic, Nellore:
1) V Krushi, Vijayawada-Chennai (S11-27)
2) C Vijaya Kumar, Warangal-Chennai (S11-24)
At Jai Bharat Hospital, Nellore:
1) S Prakash Singh, Jhansi-Chennai (S11-33)
2) Shoba Singh, Jhansi-Chennai (S11-36)
3) Ch Udaya bhaskar, Vijayawada-Chennai (S11-62)
4) G Ramchandra Srinivas, Warangal-Chennai (S11-67)
5) Kumud Kumar Bansal, Agra-Chennai (S11-16)
6) Prasamsa Bansal, Agra-Chennai (S11-13)
7) M Sujanmal Sarada Parekh, New Delhi-Chennai (S12-12)
At Bollineni Hospital, Nellore:
1) S Madanlal
2) Uttam Kumar
3) Anusha
4) Tirupathiamma
5) Sampath Kumar
Report on Railway safety, security soon: Mukul Roy
Announcing ex-gratia relief and jobs to the relatives and dependents of the dead, Railway Minister Mukul Roy on Monday said that an inquiry had been ordered into the Tamil Nadu Express fire incident and that a comprehensive note was being prepared on the safety and security of trains, which would be submitted to the PM in the first week of August.
Prime Minister Manmohan Singh had earlier directed the Railway Minister to coordinate with the Andhra Pradesh government in providing relief to the victims of the fire.
Addressing the media in Kolkata, Roy said that he would take the first available flight for Nellore and be there by 6 pm. He added, "Time has come to take technological support to avoid accidents caused by human error. I have appraised PM and the Planning Commission."
Meanwhile, Andhra Pradesh Chief Minister Kiran Kumar Reddy is expected to visit the site by 3 pm, while Congress MLA and actor Chiranjee arrived at the site at around 2 pm
CNN IBN
www.marketfutureindia.com