‘ચલો ગુજરાત’ વર્લ્ડ ગુજરાતી કોન્ફરન્સનું થયેલું આયોજન
2006ના વર્ષની જેમ ચાલુ વર્ષ 2008માં આઈના (AIANA) દ્વારા એડીસન, ન્યુજર્સી ખાતે તા. 29, 30, 31ના રોજ ‘ચલો ગુજરાત’ વર્લ્ડ ગુજરાતી કોન્ફરન્સનું આયોજન કરવામાં આવ્યું છે જેમાં વિશ્વમાં કોઈ પણ ખૂણે રહેતા ગુજરાતીઓ ભાગ લઈ શકે છે. આ ત્રણ દિવસીય કોન્ફરન્સમાં ગીત-ગઝલસંધ્યા, કાવ્યપઠન, નૃત્યનાટિકાઓ સહિત અનેક વિવિધ પ્રકારના કાર્યક્રમો યોજાશે. સુપ્રસિદ્ધ સાહિત્યકારો, વિવિધક્ષેત્રના અગ્રણીઓ તેમજ જુદા જુદા ક્ષેત્રના મહાનુભાવો સાહિત્ય, સંસ્કૃતિ અને ગુજરાતની અસ્મિતા વિશે રસપ્રદ વક્તવ્યો દ્વારા શ્રોતાઓને મંત્રમુગ્ધ કરશે. આ માટે વધુ માહિતી આપ : http://www.wgc08.org/ પરથી મેળવી શકો છો.
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FIIs were net sellers of Rs15.07bn (provisional) in the cash segment on Thursday while the local institutions poured in Rs5.87bn. In the F&O segment, the foreign funds were net sellers of Rs19.28bn. On Wednesday, the FIIs were net sellers at Rs8.7bn in the cash segment. Mutual Funds were net buyers at Rs1.15bn on the same day.
Today, we expect the Indian market to open on a positive note. On Monday, Indian equities advanced on the back of lower volumes. Market participants are becoming cautious and are unwilling to take huge positions after the main indices rallied ~22% in the last four weeks. One should not get carried away by momentum in any scrip, as the trend could reverse rapidly. The market is still facing several headwinds, both local as well global. The release of IIP numbers today would decide the direction for the market.
Well we’ve had enough of weakness for some time and bulls are just waiting for some excuse to lift themselves. Contrary to expectations, no buying was seen towards the end. Today, hopefully will bring in the bulls at least in select counters. Withinflation dipping to 12.1% and crude oil close to breaching the key $100 per barrel, the market may turn higher after three successive days of losses.
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FIIs were net sellers of Rs10.37bn (provisional) in the cash segment on Wednesday while local institutions were net buyers of Rs4.93bn. In the F&O segment, the foreign funds were net sellers of Rs12.67bn.On Tuesday, FIIs were net sellers of Rs1.86bn in the cash segment.
Today,we expect the market to open in the red again. On the whole, the key indices will remain choppy while the broader market will continue to languish. Interest rate sensitives may see some spurt especially towards the end of the day in anticipation of a fall in inflation.
Talking of macro-economic factors, inflation data will be released after the markets close today. It is likely to dip a bit from 12.34%. Some see it falling below 12% shortly, and if oil prices continue to slide, it may soon be in single digits again. The Government will also release IIP numbers for July tomorrow. Industrial output had grown by 5.4% in June. Data released by the Government yesterday showed that core sector growth for July slipped to 4.3% from 7.2% last year.
The yo-yo pattern is likely to continue for a while. Among the other worries is the relentless outflows by FIIs, which in turn is partly responsible for the fall in the rupee.
Nifty opened lower on Wednesday tracking weakness in global markets. Sustained selling in index pivotals kept the indices under pressure. The market breadth was weak with 1,722 shares declined against 931 advances. The banking, real estate and IT stocks surged in the later half of the day trimming some losses. S&P CNX Nifty closed at 4,400 down by 68 points with addition of Open Interest of 25 lac shares. The Put call ratio of Open Interest is in a declining trend to 1.11.
The overall market Future Open Interest now stands at Rs43,735cr. FIIs have created short position in Index Future to the tune of Rs1,016cr with increase in Open Interest by 29,835 contracts (5%) and in Single Stock Future they have sold to the tune of Rs485cr with increase in Open Interest by 27,787 contracts (2%). In the Index Option segment they were net buyers to the tune of Rs238cr with increase in Open Interest by 14,830 contracts (1%). FIIs were net sellers in cash segment by Rs1,037cr (Provisional) and DIIs were net buyers in cash segment by Rs493cr (Provisional). Expect Nifty to open on a subdued note.
FIIs were net sellers of Rs3.92bn (provisional) in the cash segment on Tuesday while local institutions were net buyers of Rs1.06bn. In the F&O segment, the foreign funds were net buyers of Rs333.9mn.
On Monday, FIIs were net buyers of Rs7.58bn in the cash segment. Mutual funds were net buyers of Rs998mn on the same day.
Today, we see another weak opening. US stocks slumped overnight. Asian markets too are down 1-2%. Any recovery in global trend could swing the mood in favour of the bulls.The market is currently at the mercy of daily triggers, local or global. On days when there is no market moving news, the main indices tend to turn choppy and rangebound. Ecstasy turns into agony, as fundamentals (which are still fragile across world equity markets) resurface to haunt the bulls.
Another trend that is visible is that the large caps are hogging the limelight. The small and mid-cap shares seem to have gone out of favour. This trend is likely to continue, as the frontline stocks have historically led any major change in market trend. Stick to the big stocks in the current uncertain times. Be very careful while making any investments in small or mid-caps.
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HCL Tech and Infosys will be in action as the former has reportedly decided to bid for UK’s Axon at a price 15% higher than that of the latter. Madras Aluminium and Sterlite Industries will be in focus as their Boards meet today to consider restructuring, including a possible merger. India Foils might attract some attention as its Board has cleared the rehabilitation scheme sanctioned by the Board for Industrial and Financial Reconstruction (BIFR) for the company.
FIIs were net buyers of Rs2.5bn (provisional) in the cash segment on Monday while local institutions offloaded Rs1.32bn. In the F&O segment, the foreign funds were net buyers of Rs15.27bn. On Friday, FIIs were net sellers of Rs17.37bn in the cash segment. Mutual funds were net sellers of Rs986mn on the same day.
Asian markets have lost some ground (0.5-3%) this morning. This could lead to some cooling in our markets as well. With inflation softening and the macro picture not looking too bad vis-a-vis other economies we may not see any immediate sell off. The concern is the relentless outflows by the overseas investors. In fact, on a day when the Sensex and the Nifty shot up by 3% each, the local funds chose to cash out while the buying from FIIs too was at best modest.
Today, we expect a cautious opening today due to weakness in other Asian markets. Things may turn a bit volatile and uncertain after that. There is neither certainty nor clarity in our markets. This holds true even for the Singur issue. Despite reports of the stalemate ending, it now seems that the Nano manufacturers could say Tata to Singur as returning land would make the project unviable. Tata Motors expressed its distress at the limited clarity on the outcome. Don’t’ dismiss this issue as just a battle between one corporate versus the powers that be. Companies like Infosys may rethink their plans for West Bengal. They haven’t pulled out as yet. But if this trend continues, we will witness similar scenes in other parts of the country. Corporate India will have yet another issue to battle.
The underperformance of the broader market, coupled with the cautiousness of FIIs and uncertainties over local as well as global factors could put a lid on a sharp rally from here. Variables like movement in crude oil prices and local inflation will continue to decide the mood of the market.
INDIA WINS : VICTORY IN VIENNA, END OF 34 YEARS N-ISOLATION
Which Indian companies will be benefited for N-deal?
After months of hectic parleys, Indo-US nuclear deal has finally crossed the NSG hurdle. Group of country gathered to discuss proposal allowing India to go for Nuclear energy and trade in nuclear arms with restrictions was approved in Vienna today. Forty-five nuclear supplier states on Saturday approved a US proposal to drop a ban on trade with India advancing a US-Indian atomic energy deal, diplomats in the closed meeting.
FIIs were net sellers of a whopping Rs18.57bn (provisional) in the cash segment on Friday while local institutions pumped in Rs4.85bn. In the F&O segment, the foreign funds were net sellers of Rs9.5bn. On Thursday, FIIs were net sellers of Rs3.99bn in the cash segment. Mutual funds were net buyers of Rs1.34bn on the same day.
Today,we expect a gap-up opening on Dalal Street today following a clearance by the Nuclear Suppliers Group (NSG) for the Indo-US nuke deal. Capital goods and power stocks would remain the focus of attention for the day. The NSG waiver is likely to provide short-term euphoria on the street.
However, in the long-run, inflation, interest rates and movement of oil prices would dictate the trend for the market. Furthermore, strong cues coming in from global markets are likely to help keep the Indian indices afloat. Major Asian indices are trading higher by more than 3% after the US government seized control of Fannie Mae and Freddie Mac.