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Fundamentals May 28, 2013

Nik's Diary
The Indian markets opened flat to positive tracking marginally positive opening in most of the Asian markets and the flat opening of SGX Nifty. US markets were closed yesterday owing to Memorial Day holiday. Nevertheless, The European markets ended the day higher on Monday, after markets in Asia closed mixed amid uncertainties about whether the Federal Reserve would scale down its bond purchase program. Volumes were thin amid the Spring Bank holiday for the UK market and the Memorial Day in the U.S. Meanwhile Indian markets ended higher on Monday and the benchmark Sensex jumped 326 points as investors cheered falling crude oil price and placed renewed faith in the US Federal Reserve continuing with its monetary stimulus. RIL led the rally gaining more than 5% after the company announced a discovery in the D6 block in KG Basin post-market hours on Friday.


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