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Monday, February 9, 2009

Manufacturing sector growth slips into negative zone: CII

By Financial Express Bureau

The manufacturing sector, reeling under the impact of global financial crisis has reported slowdown in production during the first three quarters of the current fiscal, according to the Confederation of Indian Industry-Ascon survey.

The survey shows one-third of the manufacturing sub-sectors out of 96 monitored by CII have reported negative growth in production during April-December 2008 compared with April-December 2007.

"With inflation declining, conditions are favourable for further cut in interest rates to stimulate demand and help arrest further slowdown in the manufacturing sector", said Chandrajit Banerjee, director general, CII.  (Read the full article here.)


'During the first three quarters, we experienced sizeable increase in slippages of sticky assets'

Amidst the domestic economic slowdown and the global financial crisis, the whole public sector banking industry is facing divergent pressures from different segments, including the Centre, Reserve bank of India (RBI), the regulator, customers and shareholders to manage their demands and expectations. AC Mahajan, chairman and managing director, Canara Bank, in an exclusive interview with FE's Kumud Das, explains the tricky situation the banks are in and the preparedness of his bank to grow business and maintain profitability.  (Read the interview here.) 


India Jan car sales down 3.2 pct - industry

NEW DELHI (Reuters) - Car sales in India fell 3.2 percent in January, a sixth drop in seven months, as global economic uncertainty and tight credit crimped demand.

Car makers sold 110,212 units in the month, down from 113,894 sold a year earlier, data from the Society of Indian Automobile Manufacturers (SIAM) showed on Monday.

With a slowdown in Asia's third-largest economy triggering job and wage cuts, financial institutions have been hesitant to lend for vehicle purchases. (Read the full article here.)


Nikesh Goyal said...

in january you promised a indicator which will make ordinary investor the master timer........... have you dropped the idea of telling that?

Subhankar said...

Quite the contrary, Nikesh. In a post on Saturday, Feb 7 ("Weekly Sensex Update"), I've mentioned the indicator and promised to write about it (again!).

I've even suggested the links where you can find out more about it - in case you can't wait any longer.;-)

It is always a pleasure to find interested readers like you.

Nikesh Goyal said...

The Slow Stoch............ Specially on weekly chart... :) I know that Slow Stoch from last 2 years.. But when the whole market is in bear trap how come long entry in one scrip would sustain?
Secondly in Bull market any indicator would give handsome result. Slow stoch is nothing but MA crossover with smoothened effect.....

With Many Regards

Subhankar said...

All technical indicators are as good as your interpretation and application of them in actual investment situations, Nikesh.

Even when the Sensex is barely above the 50 day EMA and there has been no crossovers between the 20 day EMA and the 50 day EMA yet, the slow stochastics are indicating an overbought situation.

Often individual scrips will behave the exact opposite of the market. HUL is near its 52 week high when the market is near its 52 week low.