The 30-share BSE Sensex advanced by 48.86 points or 0.29% to 16,620.89. The index touched a high and a low of 16,697.05 and 16,571.45, respectively.

The BSE Mid-cap and Small-cap indices gained 0.13% and 0.30%, respectively.

TECk up 1.19%, Auto up 0.88%, Public Sector Undertakings (PSU) up 0.49%, Information Technology (IT) up 0.47% and Capital Goods (CG) 0.45% were the main gainers in the BSE sectoral space.

On the other hand, Metal down 0.75%, Power down 0.22% and Bankex down 0.15% were the main losers in the BSE sectoral space.

RCom up 9.41%, ONGC up 3.36%, Bharti Airtel up 3.13%, Reliance Infra up 2.87% and Hero Honda up 2.36% were the major gainers on the Sensex.

On the flip side, Tata Power down 2.35%, Hindalco Industries down 1.92%, Jindal Steel down 1.49%, Wipro down 1.38% and HDFC Bank down 1.02% were the major losers on the index.

Meanwhile, the Cabinet decision to hike price for natural gas of $4.20 per mmBtu (million British thermal units) has been implemented from Tuesday, June 1, which will push up the production costs for power and fertilizer companies. Natural gas to power and fertiliser units is being sold at revised rates from June 1, but for city gas projects the hike will come into effect from June 8.

Last month, the Cabinet had approved the raising of gas price from Rs 3,200 per thousand cubic metres ($1.79 per mmBtu) to Rs 6,818 per thousand cubic metres ($3.818 per mmBtu). After adding royalty, the price for user industries would be Rs 7,500 per thousand cubic metres or $4.2 per mmBtu.

From the price hikes, ONGC and OIL would gain about Rs 5,000 crore and Rs 700 crore in revenue respectively. Similarly, GAIL India would gain Rs 150-200 crore in revenue annually.

The 50-share S&P CNX Nifty advanced by 15.25 points or 0.31% to 4,985.45. The index touched a high and a low of 5,008.60 and 4,967.05, respectively.

RCom up 9.76%, Idea up 7.45%, Ambuja Cements up 3.37%, ONGC up 3.26% and Bharti Airtel up 3.15% were the top gainers on the Nifty.

Suzlon down 3.60%, Hindalco down 2.54%, Tata Power down 2.17%, Jindal Steel down 1.91% and Cairn down 1.63% were the top losers on the index.

Liquidity condition in the system has tightened with banks borrowing heavily from the Reserve Bank of India (RBI) through its repo window. The dry up of liquidity from the system was mainly triggered by the Rs 68,000 crore payments made by telecom companies to government to acquire bandwidth for third generation (3G) mobile telecom licenses. Liquidity conditions are likely to improve as government starts spending money that it has received from the telecom companies.

Banks borrowed slightly over Rs 13,000 crore on Tuesday from the apex bank, more than double the amount borrowed on Monday. Banks borrowed Rs 5,840 crore through the repo window in the morning and Rs 7,325 crore in the second half on Tuesday.

Among other Asian indices, Hang Seng decreased 0.13%, KLSE Composite trimmed 0.54%, Nikkei 225 slid 1.12% and Taiwan Weighted declined 1.28%.

On the other hand, Shanghai Composite added 0.12%, Jakarta Composite advanced 0.33% and Straits Times gained 0.62%.

Major European markets are trading with hefty losses. FTSE 100 trimmed 1.65%, CAC 40 shed 1.51% and DAX contracted 1.71%.

The beginning of trading has long been anticipated by stock traders eager for new investment options.

The notice posted Friday on the Web site of the China Securities Regulatory Commission notifies the China Financial Futures Exchange, based in Shanghai, of its approval to begin trading stock futures trading on the Shanghai and Shenzhen stock exchanges.

The benchmark Shanghai-Shenzhen 300 Stock Index must be launched strictly according to regulations, to “effectively prevent market manipulation,” the notice says.

China announced earlier this year that was launching trial margin trading and planned to begin stock futures trading soon.

Regulators previously were reluctant to allow stock futures and margin trading on China’s two stock exchanges in Shanghai and the southern city of Shenzhen, seeing them as too risky for investors and a possible source of volatility.

The government has pushed ahead with efforts to make its securities markets, which are mostly limited to domestic investors, more efficient and attractive despite the global financial crisis.

The markets are still dominated by state-owned companies but Beijing is making it easier for private companies to use them to raise money.

The government also has created a third exchange meant to nurture small and high-tech enterprises, modeled on the U.S.-based Nasdaq market. It began trading in October in Shenzhen with 28 companies listed.

According to a notice on the Web site of the China Financial Futures Exchange, the first contracts to trade will be for May, June, September and December. Investors must pay cash deposits equivalent to 15 percent of the contract value for May and June contracts, and 18 percent deposits for the longer-term contracts.

The contracts are meant to let investors bet on future gains and declines in the market by buying the index at a stipulated value on a particular date.

The exchange began accepting applications for accounts in February. Investors are required to have a minimum of 500,000 yuan ($73,200) in their stock index futures account. Settlements will be on the third Friday of each month when the contracts are due to expire.

Auto stocks fell for the second day in a row due to rate hike worries. Index heavyweight Reliance Industries jumped. But, the market breadth, indicating the overall health of the market was negative in contrast to a strong breadth earlier in the day. World stocks rose.

The market was volatile as traders rolled over positions in derivatives segment from the March 2010 series to the April 2010 series ahead of the expiry of the near-month March 2010 derivatives contracts on Thursday, 25 March 2010. The market surged in early trade, The Sensex had lost nearly 1% on Monday, 22 March 2010, after a surprise hike in short term interest rates by the Reserve Bank of India (RBI) which it announced after trading hours on Friday, 19 March 2010.

The market pared gains soon after an initial rally. The market further trimmed gains in morning trade, after moving a in a narrow range in morning trade. The market once again moved in a narrow range in mid-morning trade. The key benchmark indices recovered from lower level after erasing almost the entire intraday gains. However, the intraday recovery proved short-lived. The market slipped into the red in afternoon trade. The key benchmark indices regained positive zone in mid-afternoon trade.

Rollover of Nifty futures from March 2010 series to April 2010 series was about 40% at the end of Monday’s trade. Rollover in Mini Nifty futures was about 31% and the market wide rollover stood at about 36%. In individual stocks, GTL, National Aluminum Company, Reliance Power, GTL Infrastructure, and Bharti Airtel, have witnessed high rollover. But rollover was low in REC, Dish TV, Essar Oil, ITC and Welspun-Gujarat Stahl Rohren till Monday.

The stock market remains closed on Wednesday, 24 March 2010, on account of Ram Navmi
The government will allow private-sector firms to issue infrastructure bonds to raise funds for projects, Finance Minister Pranab Mukherjee said on Tuesday. Prime minister Manmohan Singh today said there is a need to spend $1 trillion in infrastructure in the five years to 2016/17.
Mukherjee said the capacity of banks to fund infrastructure projects is stretched and new sources had to be tapped, including allowing private firms to issue infrastructure bonds. The availability of equity, both domestic and FDI (foreign direct investment) continue to remain an area of concern, he said. ” We have still not completely succeeded in exploiting the full potential of insurance and pension funds for deployment in the infrastructure projects,” Mukherjee said.

India plans to spend $514 billion in the five years to 2011/12, and Mukherjee said this goal was proceeding as per schedule.

The Reserve Bank of India (RBI) after trading hours on Friday 19 March 2010, unexpectedly raised interest rates from record-low levels, citing intensifying inflationary pressures and a steady economic recovery. The market had widely expected the RBI to raise rates soon, but the timing of its 25 basis-point hike for its key lending and borrowing rates, before the April 2010 policy review caught market men by surprise.

The RBI raised the repo rate, the rate at which it lends to banks to 5% from 4.75% and reverse repo rate, the rate which it absorbs funds from the system to 3.50% from 3.25% with immediate effect. India is the second major economy after Australia to start raising interest rates with signs of global recovery emerging and local price pressures picking up. China has raised its banks’ reserve requirements but has left its rates unchanged.

The wholesale price index in Asia’s third-largest economy accelerated to 9.89% in February, the highest since October 2008 and well above the central bank’s end-March 2010 projection of 8.5% and the 8.56% reading for January 2010.

In the emergent scenario, low policy rates can complicate the inflation outlook and impair inflationary expectations, particularly given the recent escalation in the prices of non-food manufactured goods, the RBI said in a statement. While the recovery in growth has proceeded broadly along expected lines, the inflationary pressures have intensified beyond the central bank’s baseline projection, the RBI said.

The government may have to sacrifice a little bit of short-term economic growth after the rate increase, which was aimed at consolidating long-term growth, the Reserve Bank of India (RBI) governor D Subbarao said on Monday.

The country’s apex planning body has reportedly called for wide-ranging reforms in agriculture, while criticising the strategy employed by the government to increase farm output and tame soaring food prices.

The Planning Commission said the agriculture pricing system should be made more market-oriented by delinking support prices from procurement prices. It has also suggested measures such as abolition of levies and stocking limits, encouraging free movement of goods across the country and doing away with bans on exports and futures trading.

In its mid-term appraisal of the Eleventh Plan (2007-12) to be ratified by the full Planning Commission under Prime Minister Manmohan Singh on Tuesday, the panel pointed out that while the farm sector did well between 2005-06 and 2007-08 growing at 4%, the performance in the past two years showed that the government’s strategy was not effective and more needed to be done on the supply side to maintain growth.

Meanwhile, poor performance in the power, road and port sectors has resulted in actual investment in infrastructure falling below the level envisaged in the Eleventh Plan period despite a robust growth in telecom sector.

Coming back to stocks, encouraging Q4 March 2010 advance tax figures of top Indian firms, indicating good Q4 March 2010 results, had boosted the bourses last week. The market also witnessed a strong post-Budget rally driven by sustained buying by foreign funds since the presentation of the Union Budget 2010-2011 on 26 February 2010. The stock market gave a thumbs up to the Union Budget 2010-2011 due to its thrust on infrastructure development, government’s pledge to reduce fiscal deficit over the next three years, a smaller-than-expected 2% hike in excise duties, and reduction in taxes for individuals which will boost disposable income. The Finance Minister has assumed a modest GDP growth of about 8% and inflation of about 4.5% for 2010-2011.

Going ahead, the key triggers for the stock market are structural reforms such as decontrol of petrol and diesel prices, targeting of food subsidies, and financial sector reforms such as increase in foreign direct investment in insurance sector.

European stocks were moderately higher Tuesday, following a strong session in the US on Monday. The key benchmark indices in France, Germany and UK rose by between 0.53% to 0.82%.

European leaders recently tried to allay concerns that they were unprepared to aid Greece easing pressure on higher-yielding assets. The ECB president said the central bank is prepared to reassess its collateral rules if necessary, softening its stance as Greece struggles to cut the region’s largest budget shortfall.

Most Asian shares rose on Tuesday, supported by investor expectations of an ongoing recovery in the world economy, and as tech stocks drew support from gains in their US peers. Sentiment was also lifted by the passage of the US healthcare legislation in the House of Representatives late Sunday. The key benchmark indices in Hong Kong, Indonesia, South Korea, Singapore rose by between 0.26% to 0.68%.

But the key benchmark indices in China, Taiwan and Japan fell by between 0.31% to 0.70%. Shares in China reversed earlier gains as financial stocks and property developers weakened on concerns about weaker dividends from the upcoming earnings reports.

Trading in US index futures indicated Dow could gain 18 points at the opening bell on Tuesday, 23 March 2010.

After a weak opening US stocks finally closed higher on Monday led by healthcare stocks as the passage of the health-care bill lifted uncertainty surrounding the legislation that was hanging over the market. The Dow Jones Industrial Average rose 43.91 points or 0.41% to 10784.89. The Nasdaq rose 20.99 points or 0.88% to 2395.40 and S&P 500 gained 5.91 points or 0.51% to 1,165.81.

As per provisional figures, the BSE 30-share Sensex was up 30.14 points or 0.17% to 17,440.71. The Sensex fell 53.93 points at the day’s low of 17,356.64 in afternoon trade. The barometer rose 120.22 points at the day’s high of 17,530.79 in early trade.

The S&P CNX Nifty was up 18.40 points or 0.35% at 5223.60 as per provisional figures.

The BSE Mid-Cap index rose 0.14% and the BSE Small-Cap index rose 0.25%.

The market breadth, indicating overall health of the market, was negative. That was in contrast to a strong breadth earlier in the day. On BSE, 1253 shares advanced as compared with 1508 that declined. A total of 106 shares remained unchanged.

Among the 30 Sensex shares, 15 stocks fell while the rest rose.

BSE clocked a turnover of Rs 4175 crore, lower than Rs 4618.91 crore on Monday, 22 March 2010.

Index heavyweight Reliance Industries (RIL) rose 1.42%, extending recent gains on expectations of good Q4 March 2010 results. As per the market buzz, RIL’s Q4 advance tax surged to Rs 770 crore in Q4 March 2010 from Rs 365 crore a year ago. Meanwhile, Reliance Industries is reportedly seeking a joint venture with Atlas Energy to develop the US firm’s Marcellus Shale gas operations.

Reliance Industries on 14 March 2010 announced a sports and entertainment joint venture with IMG Worldwide, a global leader in sports marketing and management. The equal venture, IMG Reliance, will set up modern infrastructure and coaching facilities for sports and create and operate sports and entertainment assets including celebrity management.

Cairn India rose 3.92% after parent Cairn Energy of UK lifted its estimates for reserves at its Indian operation and said the unit’s Rajasthan fields could produce more oil than previously thought. Cairn raised its estimates of oil and gas in place in Rajasthan to 4 billion barrels of oil equivalent (boe) from 3.7 billion boe and said there could be another 2.5 billion boe yet to be discovered. The Edinburgh-based company said the fields had the potential to pump 240,000 boe per day. Previously the company said it hoped to exceed its target of 175,000 boe per day but did not specify by how much.

India’s largest engineering & construction firm by sales Larsen & Toubro (L&T) fell 0.42% in a volatile trade. The company said today it got orders worth Rs 1500 crore. L&T’s advance tax payment fell marginally to Rs 270 crore in Q4 March 2010 from Rs 275 crore a year earlier.
But, other capital goods stocks rose. Siemens, Praj Industries, Bharat Heavy Electricals, Thermax, Punj Lloyd rose by between 0.51% to 1.26%.

India’s largest mobile services provider by sales Bharti Airtel fell 3.1% and was the top loser form the Sensex pack. The company has tied up the entire financing requirement of $8.3 billion for its planned buy of Kuwaiti telecom Zain’s African assets, in a sign of progress as the deadline for the firms’ talks expire this week. Bharti and Zain are in exclusive talks until 25 March 2010, marking the third time Bharti has tried to get its hands on a meaningful African business after two failed bids for South Africa’s MTN.

Rate sensitive auto stocks extended Monday’s fall triggered by a rate hike by the central bank. India’s largest commercial vehicle maker by sales Tata Motors fell 2.89%, extending Monday’s 3.02% fall after company said it is offering an early conversion of notes into stock through an auction to help reduce the debt on its balance sheet. The company, whose products range from the premium Jaguar and Land Rover to the ultra-cheap Nano car, on Tuesday invited holders of its foreign currency convertible notes to submit applications to convert them into shares.

Bondholders will get an enhanced conversion ratio in the offer, which runs through 29 March 2010, the truckmaker said in a statement today. The plan covers 11.8 billion yen ($131 million) of zero-coupon notes due March 2011 and $300 million of 1% bonds due in April 2011.

India’s largest tractor maker by sales Mahindra & Mahindra (M&M) fell 0.07%, with the stock sliding for the fifth day. The company paid Rs 235 crore in advance tax in Q4 March 2010 versus nil payment a year earlier.

India’s largest bike maker by sales Hero Honda Motors fell 0.42%. Hero Honda has short-listed Karnataka as one of the states for setting up its fourth manufacturing plant. Hero Honda Motors has reportedly proposed an investment of Rs 2,000 crore for the upcoming plant.

India’s largest car maker by sales Maruti Suzuki India fell 0.28%, extending recent slide triggered by fears increase in competition may dent sales. Recently, Ford India entered the small car market with ‘Figo’.

Bajaj Auto fell 0.32%. As per recent report a joint venture between Nissan Motor, Renault S.A. and Bajaj Auto is working to make a car that will match the price of Tata Motors’ Nano.

Increase in raw material prices coupled with costs associated with new emission norms could force auto makers to increase prices further, which may hit volumes. The government raised excise duties on large cars and sport utility vehicles by 2%, which was immediately passed on by vehicles makers, including top carmaker Maruti Suzuki and utility vehicle makers Mahindra & Mahindra and Tata Motors. From 1 April 2010, all vehicles will have to comply with Euro IV emission norms across 13 major cities, adding to costs and setting the stage for another round of price hikes.

Pharma stocks rose on hopes of a surge in US exports after the US Congress passed the heavily-contested healthcare bill on Sunday, 21 March 2010. Dr Reddy’s Laboratories, Cipla, Biocon, Lupin, Ranbaxy Laboratories, Pfizer rose by between 0.01% to 3.34%.

Piramal Healthcare surged 3.72%, after the company signed a pact with Cipla for acquiring i-pill, an emergency contraceptive pill, for a consideration of Rs 95 crore.

Following the passage of the landmark healthcare bill, multinational firms may now be willing to put more money to buy into India’s formulations companies. The healthcare bill is the US government’s attempt to reduce healthcare costs. The Obama administration would make a nearly $1-trillion commitment in taxpayer money over the next decade to help an estimated 32 million uninsured Americans get health coverage. The bill also promotes use of generic drugs that are often one-tenth the price of the original version, but has the same impact.

Analysts opine that this would translate into huge opportunities to Indian companies as India has the largest number of US Food and Drug Administration approved pharma plants outside the US. India was among the 14 countries named in the Congress discussion that can offer low-cost drugs to achieve lower healthcare costs.

Metal stocks rose on strong domestic demand. Hindalco Industries, Steel Authority of India, Gujarat NRE Coke, Welspun Gujarat Stahl Rohren, Jindal Saw and JSW Steel rose by between 0.29% to 3.15%.

India’s largest steel maker by sales Tata Steel rose 1.15%. Its Q4 advance tax payment rose to Rs 513 crore from Rs 406 crore a year earlier.

India’s largest copper maker by sales Sterlite Industries rose 0.46%. As per recent reports, a legal fight seems likely between Sterlite Industries and US copper miner Asarco LLC. The American company has filed a lawsuit against Sterlite for going back on a two-year old deal to acquire Asarco. This prompted Sterlite to also file a lawsuit against Asarco to claim recovery of about $50 million (about Rs 230 crore) that was deposited earlier.

But, National Aluminium Company fell 1.62%. The Union Minister for Mines has ruled out any possibility of disinvestment in the state-run aluminium firm.

Jindal Steel & Power advanced 2.77% on reports the company will invest $10 billion to set up a coal-to-liquid plant and a 2,000 megawatt thermal power plant in Orissa.

Compact Disc India was locked at 20% upper limit at Rs 79.30, after the company secured a large animation contract worth $82 million.
Sonata Software galloped 8.10%, after the company partnered with an independent non-profit organization dedicated to improving testing processes and software quality on a global scale.

The 30-share BSE Sensex rose 17.37 points or 0.10% to 17,182.36. The index touched a high and a low of 17,213.34 and 17,150.06, respectively.

The BSE Mid-cap and Small-cap indices advanced by 0.40% and 0.76%, respectively.

The main gainers in the BSE sectoral space were Oil & Gas up 1.62%, Capital Goods (CG) up 0.84%, Consumer Durables (CD) up 0.83%, Auto up 0.57% and Healthcare (HC) up 0.51%.

The main losers in the BSE sectoral space were Bankex down 0.78%, Fast Moving Consumer Goods (FMCG) down 0.63%, Public Sector Undertaking (PSU) down 0.38%, TECk down 0.10% and Reality down 0.08%.

In the wake of surging prices of milk and other dairy products, the government has decided to remove the duty on skimmed milk powder (SMP) and some other dairy products. The surging prices of milk have been one of the major contributors in the current high food inflation rate. The government had recently mentioned that the sale price of milk has increased by Rs 1-7 per litre in the country from January 2009.

The Revenue Department has issued a notification in this regard and has allowed the dairy industry to import up to 30,000 tonne SMP at zero duty in a financial year. As per the existing norms, the dairy industry is allowed to import only up to 10,000 tonne SMP at 5% duty under tariff rate quota (TRQ).

The major gainers on the Sensex were RIL up 1.80%, L&T up 1.43%, Sun Pharma up 1.40%, ONGC up 0.94% and Hero Honda up 0.86%.

The major losers on the index were Bharti Airtel down 1.99%, HDFC Bank down 1.76%, ITC down 1.35%, ACC down 1.22% and JP Associates down 1.04%.

Cement continues to remain strong and after witnessing a hike immediately after the budget, cement prices may see another 5-10% move in the current or coming month as the crunch in inputs and transportation keeps the supply side in check.

Cement prices had increased by around Rs 8-10 a bag after the finance ministry hiked or rather restored the excise duty partially from 8% to 10% in the General Budget for FY11 released in late February. While the earlier price hike passed the increase in excise on to the consumer, the hike in diesel prices may too be soon factored in by cement makers.

The S&P CNX Nifty up 4.80 points or 0.09% to 5,133.70. The index touched a high and a low of 5,144 and 5,125.70, respectively.

The top gainers on the Nifty were RIL up 1.93%, BPCL up 1.87%, Sun Pharma up 1.57%, HCL Tech up 1.53% and L&T up 1.43%.

The top losers on the index were HDFC Bank down 2.10%, Bharti Airtel down 1.60%, JP Associates down 1.21%, ITC down 1.20% and ACC down 1.14%.

Asian markets are trading on a mixed note. Hang Seng declined 0.44%, Nikkei 225 shed 0.23%, NZX 50 down 0.72% and Seoul Composite shed 0.12%.

On the other hand, Straits Times advanced 0.27% and Taiwan Weighted gained 0.80%.

Financials, resources and industrials stocks are among the notable gainers in the Australian market. Stocks from various other sectors are also trading firm. The benchmark S&P/ASX 200 index is up 96.2 points or 2.1% at 4,664. The broader All Ordinaries index is currently trading at 4,683, up 92.4 points or 2% over its previous close.

On Tuesday, the S&P/ASX 200 index had ended up 22.3 points or 0.49% at 4,568, while the All Ordinaries index moved up 20.4 points or 0.45% to 4,591.

Among bank stocks, ANZ Bank is up 3.5%, National Australia Bank is trading higher by 3.3%, Westpac Banking Corporation is gaining about 2% and Commonwealth Bank of Australia is up with a gain of 2.5%. Macquarie Group is trading higher by 1.4%.

In the materials space, BHP Billiton is up 1.8%, Rio Tinto is gaining about 2.8% and Newcrest Mining is trading higher by 3.75%. Bluescope Steel, Orica, Incitec Pivot, Fortescue Metals and Lihir Gold are also trading notably higher.

Among energy stocks, Woodside Petroleum is up 1.6%, Santos is gaining 1.65%, Oil Search is up 2.2% and Origin Energy is trading stronger by about 2.5%.

Shares of Warrnambool Cheese & Butter Factory Co Holdings Ltd are up nearly 8% after the group received an improved takeover offer from Murray Goulburn Co-Operative Co Ltd. On Tuesday, WBC had reported a significant rise in first-half profit and said its outlook is positive.

Coffey International is down nearly 8% due to weak results. The global engineering and project management provider’s net profit fell 20% to A$10.85 million in the six months to December 31, from A$13.51 million in the prior corresponding half. Operating earnings before interest, tax, depreciation and amortization fell 14% to A$31.1 million. The company has blamed a strong Australian dollar exchange rate and the global financial crisis for the fall in its first-half profit.

On the economic front, an index measuring skilled job vacancies in Australia added 1.6% to 44.4 in February compared to the previous month, the Department of Employment and Workforce Relations said. That follows a 1.1% monthly increase in January.

Among the individual components, marketing and advertising positions jumped 9.9% on month, while metal trades and construction jobs also were sharply higher. The availability of health profession and accounting positions saw significant declines. By region, New South Wales, South Australia, Western Australia and Tasmania saw an increase in skilled vacancies, while Victoria, Queensland and the Northern Territory all saw declines.

A forward-looking index measuring the Australian economy added 1.3 points or 0.5% in December compared to the previous month, the Westpac/Melbourne Institute index revealed, coming in at 245.8. That follows the 1% monthly increase in November. On an annualized basis, the index jumped 6.2% after jumping 5.4% on year in the previous month. The survey also showed that the coincident index climbed 1 point or 0.4%.

In the currency market, the Australian dollar opened notably higher thanks to the positive close on Wall Street overnight. The Aussie was quoting at US$0.9008-US$0.9011 in early trades, up 0.85% from Tuesday’s close of US$0.8932-US$0.8937. The Australian dollar is currently trading at 0.9007 to the U.S. dollar.

The Japanese stock market is trading firm on Wednesday with investors picking up stocks cutting across various sectors.

The benchmark Nikkei 225 index, which rose to 10,258, was up 210.37 points or 2.1% at 10,245 at the end of the morning session.

The mood is so positive that just three stocks out of the 225-stock strong Nikkei 225 index are currently down in the red.

Automobile and banking stocks are mostly trading higher. Shares of securities firms, real estate companies and insurance firms are moving up. Manufacturing and electric power stocks are also gaining in strength.

Several stocks from machinery, services and communications sections are trading with notable gains. Paper stocks Nippon Paper Group and Oji Paper Co. are trading lower due to rating downgrades.

Shares of Toshiba Corp. moved up sharply following reports the U.S. government will promote domestic construction of nuclear power plants.

After opening higher thanks to a positive close on Wall Street overnight, Toyota Motor shares have drifted down into negative territory on recall concerns.

Pacific Metals, Japan Steel, Sumitomo Metal Industries, Mitsui Minerals and Nippon Steel are trading sharply higher.

Mitsui & Co shares are up sharply following an announcement by the company that it will participate in a project to develop shale natural gas in the U.S state of Pennsylvania.

Mitsui OSK Lines, Toshiba Corp., Canon, Fujitsu, Shinsei Bank, Honda Motor are also trading with impressive gains.

On the economic front, an index measuring the activity of tertiary industries in Japan was down 0.9% in December compared to the previous month, the Ministry of Economy, Trade and Industry said on Wednesday. That was sharply lower than analyst forecasts for a decline of 0.2% on month, which was also the same rate of decline in November. For the third quarter of 2009, the index was down 0.2% compared to the previous three months.

In the currency market, the U.S. dollar traded in the lower 90-yen level in early deals in Tokyo. The yen is currently trading at 90.28 to the U.S. dollar.

Bank and technology stocks are among the top gainers in the South Korean market. Steel, oil and telecom stocks are also trading firm.

The benchmark KOSPI index, is trading at 1,627, up nearly 26 points or 1.62%, over its previous close.

Among bank stocks, Korea Exchange Bank, Woori Finance and Shinhan Financial are trading higher by 2%-2.5%, while KB Financial is up sharply by about 4%.

In the technology space, heavyweight Samsung Electronics is gaining about 2.2%, LG Display LCD is up 2.8% and Hynix Semiconductor is trading higher by 4.5%. LG Electronics, which is a bit subdued, is up with a modest gain of 0.5%.

Steel stocks Hyundai Steel and POSCO are up 1.2% and 1% respectively. Among Oil stocks, SK Holdings is trading 2.1% up and S-Oil is gaining about 1%. KEPCO is up with a gain of 1.2%.

Among shipping stocks, Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding are up with modest gains, while STX Pan Ocean is down in negative territory with a loss of 3.3%.

Telecom stocks SK Telecom and KT Corp are up 1.8% and 2% respectively. Automobile and airlines stocks are trading mixed.

Among other markets in the Asia-Pacific region, Hong Kong and Singapore are trading notably higher. Indonesia, Malaysia and New Zealand are also trading firm. Markets across the region closed higher on Tuesday. Chinese markets are closed this week due to a holiday.

On Wall Street, stocks rallied by sizable margins on Tuesday, as data showing a notable improvement in New York State manufacturing and a batch of upbeat earnings reports drove markets higher on the day. The major averages all closed in positive territory, building on last week’s gains.

The 30-share BSE Sensex zoomed 227.61 points or 1.40% to 16,454.29. The index touched a high and a low of 16,457.11 and 16,228.91, respectively.

The BSE Mid-cap and Small-cap indices gained 1.31% and 1.20%, respectively.
In the BSE sectoral space the main gainers were, Metal up 2.92%, Consumer Durables (CD) up 1.90%, Realty up 1.76%, Capital Goods (CG) up 1.57% and Bankex up 1.51%.

There were no losers in the BSE sectoral space.
Meanwhile, the chairman of Prime Minister’s Economic Advisory Council (EAC) C Rangarajan, on Tuesday, said that India should move towards the path of fiscal consolidation as the economic growth was resuming.

Rangarajan said that the process of fiscal consolidation must begin now as the economy was picking up again while the fiscal deficit, at the level it currently is, will be unsustainable in the long run. Hit first by the global commodity rally and then the recession in advanced economies following the events of September 2008, the Indian government was forced to take expansionary fiscal policies which pushed the deficit to a 16 year high of 6.8% in FY10.

Tata Steel up 4.35%, Hindalco Inds up 4.27%, Sterlite Inds up 3.23%, L&T up 2.23% and Tata Power up 2.13% were the major gainers on the Sensex.

There were no losers on the benchmark index.
The Indian government said on Tuesday that all the hurdles in the way of the much-awaited auction of third generation (3G) radio spectrum had been cleared, although there was yet no clarity regarding the possible timing of the event. The auction has been delayed thrice owing to differences between telecom and defence establishments on availability of spectrum.

But union communications minister said that the Ministry was yet to receive directions from the Law Ministry as well as the Finance Ministry. ‘There is no clarity yet. I am waiting for directions from the Finance Ministry and the Law Ministry and have not got any from them,’ said A Raja.

The S&P CNX Nifty soared 1.44% to 4925.45 from its previous close of 4855.75. The index touched a high and a low of 4926 and 4857.60, respectively.

Tata Steel up 4.43%, Hindalco Inds up 4.33%, Sterlite Inds up 3.38%, Tata Power up 2.62% and L&T up 2.33% were the top gainers on the Nifty.

While Idea down 0.09% and Hero Honda down 0.08% were the only losers on the broadly followed index.

Among Asian markets, Hang Seng advanced 1.77%, Jakarta Composite rose 0.67%, KLSE Composite added 0.84%, Nikkei 225 surged 2.57%, Straits Times gained 1.10% and Seoul Composite soared 1.66% and.

Forex Analysts had predicted that the deficit would contract to 35.8B from its previous reported level of 36.4B, instead the US trade gap unexpectedly widened to its biggest level this year.

Even though exports climbed to their highest level since October “08, this eighth consecutive rise in exports was trumped by an 8.4% increase in Imports (particularly petroleum).

The result of faster economic growth in emerging countries combined with a drop in the dollar’s value is allowing American goods are becoming more competitive and may in fact propel gains in sales overseas that will spur further gains in U.S. manufacturing.

On the other side of the 49th parallel, Canada also saw their Trade Deficit widen more than expected. As imports slightly outpaced exports, Canada’s trade deficit remained at 0.2B, versus the expected forecast that the trade deficit would shrink to 0.1B. The 1.7% increase in exports was slightly outpaced by a 1.8% rise in imports resulting in Canada’s trade deficit with the world widening to $246 million in December from $201 million in November.

According to the Bank of Canada, the combination of low U.S demand and strong Canadian dollar are a “significant drag” on the economy. Governor Mark Carney has pledged to keep his benchmark lending rate at a record 0.25 percent through June to stimulate demand unless the inflation outlook shifts.

Following the release of both countries trade balances, the Canadian currency tumbled against the USD- the pair increased from the day’s open of 1.06651 USD/CAD to 1.0686; however, by yesterday’s close, the Loonie managed to regain some of its lost ground against its US counterpart- closing at 1.06265.

Across the Atlantic, the Euro continues to move away from its 8 month low against the USD, as speculations increase that today’s EU summit will shed light on a possible rescue package for Greece. With the EU holding their 1 day summit today, the EUR increased from yesterday’s close of 1.37336USD to a high of 1.37995 in Asian markets early this morning.

While the Euro continues to rise versus its American counterpart, the British Pound continues to plummet against the USD. Yesterday, the Sterling was hit hard as the BoE Inflation report forecasted low inflation for a long period, suggesting more quantitative easing ahead; the Pound plunged 0.88% from its opening price of 1.57088 to 1.55701, finishing off the day at 1.55974.

Yesterday, the Bank of England lowered U.K.’s economic outlook and forecast inflation to undershoot its 2% target. The central bank Governor Mervyn King also kept the door open for further quantitative easing.

Britain’s February Inflation Report depicts economic growth to reach around 3.2% in the second quarter of next year- smaller than the previous estimate of 4%. According the BoE, the strength of the recovery is highly uncertain and output is unlikely to return to a level consistent with its pre-crisis trend for a considerable period.

King forecasted inflation to exceed 3% in January, but estimates the figure to fall below the target quickly. Annual inflation had exceeded the central bank’s 2% target in December for the first time since May 2009 and stood at a nine-month high of 2.9%. “It is more likely than not that inflation will be below the target for much of the forecast period, but the risks are broadly balanced by the end,” the bank said.

Shortly midnight, Australia released its employment change for January as well as its current unemployment rate. With both numbers coming out better than expected ” employment change increased to 52.7K versus expected 15.1K causing the unemployment rate to tumble to 5.3% versus expected 5.6% and prior 5.5% ” the Aussie rose more than 1% against the dollar and the Yen.

The AUD/USD opened in Asian Markets this morning at 0.87506- after the release of the better than expected employment data, the pair increased 1.75% to a week high of 0.89040.

How can that be done? Simple, by using an investor Managed Trade Account.
Essentially an investor’s funds are placed into a trade account, a manager trades the account, but more importantly only the investor can remove assets. The trader is automatically paid his/her percentage of profits, but will never have access to the funds. Reason seems to indicate that retaining fund control equates to good investing via a managed trade account.

What Types of Managed Trade Accounts are Available?
Usually individually Managed Trade Accounts include: Commodities managed accounts, Forex and Futures.

With a Individual Managed Account a broker/trader handles the account individually and of course makes all decisions on trading. For investors with smaller deposits the option to join a pooled managed account is also available.

All managed trade account holders whether individual or pooled can select a risk tolerance. A risk/reward ratio is assigned by the investor according to needs- less risk for steady, safer returns, higher risk for increased, short terms gains.

Investment minimums are usually from 2,000 for a pooled account to a 50,000 minimum for an individual traded account. Many brokers will allow lower minimums for individual managed accounts, sometimes as low a 10,000. Going any lower than 10,000 however could expose the account to unnecessary risk, as the trade account itself may use margins.

Margins will artificially amplify the funds in the trade account for greater market leverage, however the rub is that losses can be significant if a higher risk tactic was also chosen. If an investor has a smaller amount to
invest, using lower risk trading techniques, or a pooled managed account are safer options.

Pros and Cons of a Managed Trade Account
The biggest advantage is in having complete control over the funds, an investment manager cannot suddenly disappear, or hide trading losses. The investor can see everything that is happening and can put in a cease trading order, or can start fund removal if the trading is not satisfactory!

The number two advantage is in having a seasoned professional trade the investor’s account. The experience and expertise of a good trader is immense, trying to do this alone can be a massive undertaking. The investor does not have to be sitting in front of a computer screen and he/she can rest assured in knowing that a professional is at the helm. For newer investors this reassurance is essential for gaining trust in the system

Cons can include monthly management maintenance fees, while not excessive they are usually a set cost, unless the trader waives the fee. Using a trader that is consistently profitable will easily erase any minor traders fees.

Best way to Pick a Good Trader
It will not matter how low the risk tolerances are if the trader doesn’t have the skills. However there is a way to choose a good trader and to know in advance what to expect reasonably in profit!

Two words: Demo Account.
Any trader worth their reputation will not object to opening a demonstration trading account for a potential investor. This allows the client to witness with their own eyes how well a particular trader performs. The investor logs into the demo account and then monitors daily trade activity. Following the traders profit and loss should show whether or not they are a skilled.

The demonstration account is free to open, no potential investor monies are required, however the trades are real. The investor is simply watching the traders skills from a computer screen. Ask 4-5 traders for demo accounts, then monitor them all for a period of time to determine which of the traders are most consistent.

It can be exhilarating to watch profits being generated in the demo account- the temptation to join right away can be strong, but patience should be exercised to ensure that profitable trading will be long-lasting. Monitoring the account(s) for a month or longer should give any investor all the feedback required to make an informed decision.

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To benefit trading Forex you should start with learning Forex fundamentals. There are different courses, books, e-books, websites, forums with the help of which you can get the information required. Moreover there are also such popular tools as Forex robots or automated trading software. These robots are designed to work for the trader automatically and bring profit. The software developers are trading professionals and various experts that invest their knowledge and years of experience into the development of such software. Forex robots algorithm helps to trade successfully that’s why the software is used by experts and beginners.

The robot acts the way a trader does, that is it analyzes the market and different information, buy currency when the price is low and sell it when the price starts growing. The advantages of such robots are absence of emotional moments which are particular to human beings and often become the reason of losses. There is a plan which the robots follow in an accurate manner.

Moreover, the developers of Forex robots provide traders with the customer support system. When you are looking for a software it is often recommended to check whether support system is provided to customers because if you have nobody to ask a question as for the software you will loose a lot of time and money. Make sure customer support provided is proficient and professional, the customer support team is competent and car respond to your problem quickly.

To obtain a software you need to find the official website first, log on and the download the system you have chosen. As a rule, such robots are easy to install and can trade even when the trader’s computer is turned off. If you do not want to install and use the software on your personal computer than you can pay some fee and get enrolled on a Virtual Private Server (VPS).

Along with customer support check whether such service as money back guarantee is provided. It may happen that don’t like the way the system performs cause it doesn’t cater your needs and you will be able to return the software.

That’s what happened to Jessica Rueda. The Masbeth, Queens, resident was walking by it one day and saw the red flags and sign that read “Institute of Design and Construction” (IDC). Rueda walked in to ask for information and registered for the school a week later. Today, she’s pursuing a career in the industry.

The little school, which is actually considered a giant in the local New York building trades, gives training in how to build houses and buildings. Its students go into contracting, building design and running construction sites.

Founded in 1947 by colorful New York architect and politician Vito P. Battista, who ran and lost races for mayor of New York seven times and once paraded a camel down the street to protest taxes, the school has become a prime source for education in the building side of real estate.

It costs $300 per credit, or $21,600 for a two-year degree, about 10 times less than New York University.

“I didn’t exactly know what I wanted to do,” says Rueda, who was 21 at the time. “I was in nursing school because I knew I could earn a good income, but it wasn’t really me. I had no idea a school like this, where you could learn to manage construction sites or become an architect, existed. I’ve always loved to draw and work with my hands. It was perfect, and it I could afford it.”

Going to class at night and working during the day, she learned to read blueprints, understand building code and design buildings on computers. Tough-talking teachers like Kathleen Avino, all of whom currently work in the construction business or as architects, made sure she did her work and understood the process.

“We live in a society of short-cutters right now,” says Avino, a construction consultant who left architecture for construction management and has been teaching at the school for 20 years. “If you translate that to building, you’re going to kill people. I make sure every one of my students understands what we teach them. We may not have multimillion-dollar facilities like NYU, but we offer a one-to-one education. If our students miss a class, I want to find out why. We take building very seriously and understand what it is to pass on the responsibility of working in this trade.”

After taking time off because of a busy workload, Rueda realized how much she loved the construction industry and wanted to become an architect. She reenrolled and found her first job through the school. Now she works as a drafter for J. Sussman Inc., the oldest and best-known manufacturer of stained glass windows in the New York area. Founded in 1906, the Jamaica, Queens-based company did the windows for St. Patrick’s Cathedral. Rueda’s dream is to become an architect, and after getting her second degree from the school, she plans on applying to the Pratt Institute to pursue her career.

“My dream is to have my own firm one day,” says Rueda, who grew up in Woodside to Dominican and Ecuadorian parents. “I can’t thank my parents, teachers and boss enough. They believed in me. You feel that at the school. People care about you and what you’re learning.”

Thousands of New Yorkers wanting to work in the construction side of the real estate industry have passed through IDC. In addition to degrees in construction management and architecture, the city’s top architects go to the school to take a course on passing their state licensing exam.

The great New York architect Philip Johnson, who built Manhattan’s Seagram Building and AT&T Building, attended the school. In a speech, he once thanked founder Battista for helping him pass the test.

Today, the school is still a family business, run by Battista’s son, Vincent, and granddaughter Elizabeth. With staff members such as Avino, who’s taught there for more than 20 years, the school has a family atmosphere that fosters togetherness and support. Classes are small and instruction is hands-on. The school has a library where students who lack peace and quiet at home can come to study. The atmosphere around the school is serious but friendly, with people hard at work. Of last year’s graduating class of 16, 13 countries of origin were represented.

Vito Battista was an Italian immigrant who went to architecture school at MIT and worked on the 1939 World’s Fair Site and Brooklyn Civic Center. A high-profile politician who was a New York state assemblyman, Battista started his own political party, the United Taxpayers Party, to help small landlords.

He believed in the craft of good building and in providing low-cost education to New Yorkers who needed it most. IDC combined those beliefs. The school started by training World War II veterans in construction management, something crucial during the postwar building boom.

“We still stand for exactly what my father wanted,” says Vincent Battista. “Low-cost, high-quality education that gets people working in the field as quickly as possible. If they do their work and learn correctly, our students can be working in the industry within eight months. Every class we offer relates to the construction of buildings.”

About 157 undergraduates attend the school and 60 to 80 will do graduate work. Some go on to get degrees at local colleges, others go to architecture school. Students can go to class during the day or at night. Most, like Rueda, work a day job, in the real estate, construction or architecture industry. They become drafters, assistant construction managers, building safety managers, estimators, specification writers, superintendents or expediters (who help architects prepare paperwork for city building and zoning guidelines).

“People don’t realize how much paperwork needs to get done to build a building,” says Battista. “We train them in all that. I personally try to get our students jobs. So do our teachers. You don’t learn a trade here like mason work or electrical engineering, but you do learn how to supervise that work and make sure it works the way it should work. You learn how building structures work and how to maintain the New York building code, which is the strictest in the country.”

Battista, like his father, doesn’t hold back words. He thinks downtown Brooklyn is overbuilt and lacks the infrastructure to support the recent increase in residential buildings. He also thinks the New York building code is too complicated and changes too often. However, Battista says that New York is still the safest place in the country to be in a building,

“In New York, they understand the problem of high density and living on top of each other,” he says. “Our code is the strictest because we take building seriously. You have to build safe with all these people around. We understand that at this school, and we teach it everyday. We have to.”