Stock Market Institute (SMI) Weekly News Letter

Posted By : Kishore B.S

Hi Friends,

 

Weather is getting hot in Bangalore with very high temperature but the Markets are mixed. The slow down in the Gross Domestic Product i.e. the barometer for growth in the Econmmy has led to a very little rise in the Markets were it was almost flat. ONGC a Public Sector Oil Company is auctioning the shares today at a base price of Rs.290/-. So this was an encouraging sign for the market. The actual news is not very good crisis in Greece and a weak Europe. The USA has picked up a little that is an encouraging sign. Iran is a tension which has to be looked into with the Isrelies wanting to attack it.

                 As usual, the oil price in India will go up following the world  prices,where oil has touched $180 a barrel, and specially following the US diktat not to purchase Oil from Iran. This, will lead to purchasing oil from African countries were the prices are high.  Markets are up because of the Foreign buying. The UP election results which will be declared on the 6th of March, which is a big event.
(Inputs from Mr. S.M. Sanjay an Associate of Stock Market Institute)
Cheers!!
Team SMI
www.stockmarketinstitute.org

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