India-Global Market Summary 25-05-12Are you confused with savings and investment? Attend ourwebinar session conducted on every Sunday from 11:00 a.m to1:00 p.m and clarify all your doubts in finance planning. Visitwww.ifmaonline.com and enroll yourself to take up training.• Market traded with high volatility and closed flat on higher European markets. European stock markets rose on Friday after data showed stabilizing consumer confidence in Germany, the euro zones biggest economy.• Cement stocks were mostly higher. Most fertiliser shares extended recent gains on hopes good monsoon may spur demand for fertilizers on higher crop cultivation. Metal stocks gained as metal prices rose on the London Metal Exchange on Thursday. Capital goods stocks rose on renewed buying. Capital goods stocks rose on renewed buying.• Gold prices declined today as the German consumer confidence changed the sentiments in the markets and bought the equities and the commodities higher• Crude prices eased on growing fears about the eurozones debt troubles but the falls were tempered by worries about the nuclear standoff between the West and Iran• Yesterday, foreign institutional investors sold shares worth a net Rs 105.73 crore
• Man Industries net profit rose 35.2% to Rs 25.20 crore on 9.4% decline in net sales to Rs 325.98 crore in fourth quarter ended March 2012 over the same period last year• Jet Airways reported net loss to Rs 298.12 crore during the fourth quarter ended March 2012, higher than net loss of Rs 124.46 crore in March 2011.• Bharti Airtel acquired 49% in US telecom major Qualcomm Inc’s fourth- generation (4G) broadband venture in the country to the value of Rs 907 crore.• ITC net profit rose 20% to Rs 1,614 crore and net sales up 17.6% at Rs 6,861 crore during the fourth quarter ended March 2012 over year ago period.• Voltas jumped up 8.17% in the market after consolidated net profit rose 2.7% to Rs 103.81 crore on 5.8% decline in net sales to Rs 1573.46 crore in Q4 March 2012 over Q4 March 2011.• TVS Motor Company climbed up in the market on reporting strong results. The companys profit after tax rose 28% to Rs 249.07 crore on 13.32% growth in total revenue to Rs 7126 crore in the year ended 31 March 2012 over the year ended 31 March 2011.
Global news• European stock markets rose on Friday after data showed stabilizing consumer confidence in Germany, the euro zones biggest economy. Most Asian stocks declined on Friday amid uncertainty over the European debt crisis and the future path of Chinese growth.• US shares closed mixed on Thursday on lack of consensus among European leaders on measures to tackle the regions debt crisis.• Italian Prime Minister said on Thursday that Greece would probably remain in the euro zone, and also expressed optimism that the region was moving towards joint issuance of euro bonds. The German consumer confidence index was steady in May at 5.7, with the overall indicator forecasting an identical reading for June Chinas manufacturing activity contracted at a faster pace in May 2012 than in April 2012 as conditions for exporters worsened during the month. The World Bank cut its economic growth forecast for China this year to 8.2% from its prediction of 8.4% growth in its November report.
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