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Fundamentals May 8, 2013

Nik's Diary
The Indian markets opened positive today tracking strong cues from SGX Nifty and most of the Asian markets. Asian indices have rallied on back of better than expectations, Chinese imports and exports data and optimism that central-bank stimulus will boost profits. While trading activity was somewhat subdued, US stocks moved mostly higher over the course of the trading day on Tuesday. The gains on the day extended the upward trend that has been shown by the markets over the past few weeks. With no major economic news being released, last Friday's better than expected jobs report seems to still be on the minds of traders. Meanwhile, the European stock markets bounced back from the weakness of the previous session fueled by 
earnings results from major European banks such as HSBC, Societe Generale and Commerzbank. The unexpected increase in German factory orders also contributed to the positive mood. Renewed FII inflows and positive global cues on the back of optimism over U.S. economic growth sent Indian shares to a three-month high on Tuesday.


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