The market may surge in early trade tracking firm Asian stocks after Federal Reserve Chairman Ben S. Bernanke said on Wednesday, 10 July 2013, the world's biggest economy will continue to need stimulus. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 94 points at the opening bell.
UltraTech Cement said after market hours on Wednesday, 10 July 2013, it has commissioned its clinkerisation plant of 3.3 million tonnes a year (mtpa) at Malkhed in Karnataka.
Zee Entertainment Enterprises turns ex-dividend today, 11 July 2013, for dividend of Rs 2 per share for the year ended 31 March 2013 (FY 2013).
Thermax turns ex-dividend today, 11 July 2013, for dividend of Rs 7 per share for the year ended 31 March 2013 (FY 2013).
Karur Vysya Bank turns ex-dividend today, 11 July 2013, for dividend of Rs 14 per share for the year ended 31 March 2013 (FY 2013).
Andhra Bank turns ex-dividend today, 11 July 2013, for dividend of Rs 5 per share for the year ended 31 March 2013 (FY 2013).
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Biocon turns ex-dividend today, 11 July 2013, for total dividend of Rs 7.50 per share for the year ended 31 March 2013 (FY 2013).
Key benchmark indices edged lower on Wednesday, 10 July 2013 on caution ahead of the release of minutes later in the global day that day of the Federal Open Market Committee (FOMC) meeting on 19 June, which may provide more insight into the Federal Reserve's outlook on monetary stimulus. The S&P BSE Sensex shed 145.36 points or 0.75% to 19,294.12 on that day, its lowest closing level since 3 July 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 75.46 crore on Wednesday, 10 July 2013, as per provisional data from the stock exchanges.
Asian stocks rose on Thursday after Federal Reserve Chairman Ben S. Bernanke said on Wednesday, the world's biggest economy will continue to need stimulus. Key benchmark indices in China, Hong Kong, Indonesia, Singapore, South Korea and Taiwan rose by 1.29% to 2.12%. Japan's Nikkei Average fell 0.17%.
The Bank of Japan announces its policy decision today amid speculation the central bank won't add to stimulus efforts. The BOJ will leave its bond-buying program unchanged as per market expectations.
South Korea's central bank on Thursday left its policy interest rate unchanged at 2.5% amid low inflation, uncertainty over the Federal Reserve's bond purchases and China's economic slowdown.
Brazil's central bank late Wednesday raised the country's benchmark interest rate to 8.5% from 8%, marking the third consecutive rate increase of a half-percentage point each.
US stocks ended little changed on Wednesday after minutes from the Federal Reserve's last meeting had multiple members looking for more improvement in the labor market before cutting the pace of central-bank bond purchases.
Bernanke said highly accommodative monetary policy will be needed for the foreseeable future after a speech in Cambridge. Meanwhile, minutes of the Fed's June meeting showed that while several members judged that a reduction in asset purchases would likely soon be warranted, many want to see further improvement in the labor market before reducing the $85 billion-a-month quantitative easing program.
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