Gold shoots up in short covering on last trading day of quarter

Investing.com - Gold prices shot up on Friday as short covering marked the last trading day of the quarter and allowed for choppy trading.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were up 1.12% at USD1,225.15 a troy ounce in U.S. trading on Friday, up from a session low of USD1,180.35 and down from a high of USD1,228.55 a troy ounce.

Gold futures were likely to find support at USD1,180.35 a troy ounce, the earlier low, and resistance at USD1,300.55, Monday's high.

Short covering sent gold soaring, as the yellow metal has plummeted 24% during the second quarter of this year.

Uncertainty as to when the Federal Reserve begins to taper monetary stimulus measures has repelled investors away from the precious metal, which benefits when monetary policy is loose due to its role as a hedge to a weakening dollar.

Elsewhere, the Thomson Reuters/University of Michigan consumer sentiment index rose to 84.1 for a final reading in June, up from a 82.7 reading the previous month and also above expectations for a 82.8 reading.

The upbeat numbers came in wake of a report that revealed that the Chicago purchasing managers' index fell to 51.6 this month from 58.7 in May, exceeding expectations for a decline to 56.0.

Any reading over 50 signifies expansion, which left investors at ease to seek out dollar positions.

Also in the U.S., Federal Reserve Governor Jeremy Stein suggested earlier Friday that asset purchases may begin to taper in September provided the economy improves, which further boosted the dollar though gold erased earlier losses and rose on Friday.

Elsewhere on the Comex, silver for September delivery was up 5.15% at USD19.508 a troy ounce, while copper for September delivery was up 0.03% and trading at USD3.060 a pound.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

Forex - Dollar gains on Fed comments, consumer sentiment data

Investing.com - Rising U.S. consumer sentiment data and comments from a Federal Reserve governor suggesting monetary stimulus tools may taper in September sent the dollar strengthening against most of its counterparts Friday.

Monetary stimulus tools such as the Fed's monthly USD85 billion bond-buying program weaken the dollar to spur recovery, and talk of their dismantling often firms the greenback.

In U.S. trading on Friday, EUR/USD was down 0.23% at 1.3010.

The Thomson Reuters/University of Michigan consumer sentiment index rose to 84.1 for a final reading in June, up from a 82.7 reading the previous month and also above expectations for a 82.8 reading.

The upbeat numbers came in wake of a report that revealed that the Chicago purchasing managers' index fell to 51.6 this month from 58.7 in May, exceeding expectations for a decline to 56.0.

Any reading over 50 signifies expansion, which left investors feeling at ease in dollar positions Friday.

Elsewhere in the U.S., Federal Reserve Governor Jeremy Stein suggested earlier that asset purchases may begin to taper in September provided the economy improves, which also boosted the dollar.

"The best approach is for the Committee to be clear that in making a decision in, say, September, it will give primary weight to the large stock of news that has accumulated since the inception of the program and will not be unduly influenced by whatever data releases arrive in the few weeks before the meeting — as salient as these releases may appear to be to market participants," Stein said, according to prepared remarks in a speech he gave earlier.

Meanwhile in the eurozone, official data showed that German retail sales rose 0.8% in May, beating expectations for a 0.2% gain after a 0.1% contraction the previous month, though U.S. events served as the market's chief steering current.

The greenback was up against the pound, with GBP/USD trading down 0.38% at 1.5201.

In the U.K., house price inflation rose 0.3% this month, in line with expectations after a 0.4% gain in May.

The dollar was up against the yen, with USD/JPY up 0.94% at 99.28, and flat against the Swiss franc, with USD/CHF trading down 0.01% at 0.9450.

Japan's manufacturing purchasing managers' index rose to 52.3 in June from 51.5 in May, the index's fastest expansion in almost two years.

A separate report showed that industrial production in Japan rose 2% in May, exceeding expectations for a 0.2% rise after a 0.9% increase a month earlier.

In addition, housing starts in Japan jumped 14.5% in May, far more than the expected 6.2% increase after a 5.8% rise the previous month.

Investors, however, opted for the dollar over the yen in wake of U.S. consumer sentiment numbers and Stein's comments.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.27% at 1.0505, AUD/USD down 1.41% at 0.9145 and NZD/USD trading down 0.68% at 0.7742.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.29% at 83.41.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

Forex - Dollar inches down on Fed comments, data supports

Investing.com - The dollar moved lower against most major currencies on Thursday after a key Federal Reserve official said stimulus programs will stay in place if the economy does not continue to improve.

Suring U.S. pending home sales supported the dollar, though many investors avoided it to wait for fresh steering currents.

Monetary stimulus tools such as the Fed's monthly USD85 billion bond-buying program weaken the dollar to spur recovery.

In U.S. trading on Thursday, EUR/USD was up 0.22% at 1.3040.

The National Association of Realtors said its pending home sales index rose by 6.7% in May, well above expectations for a 1% gain.

Pending home sales rose 12.5% on a year over year basis last month, also above expectations for an 8.3% increase.

Elsewhere in the U.S., jobless claims fell in line with expectations last week, government data revealed.

The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week fell by 9,000 to 346,000, in line with expectations for a drop of 10,000 to 345,000.

A separate report showed that U.S. personal spending was up 0.3% in May, in line with expectations.

The numbers supported the dollar somewhat though the currency traded lower on a downward revision to U.S. first quarter growth on Wednesday.

On Wednesday, the Commerce Department said it revised down first quarter growth to an annualized 1.8% from an initial estimate for 2.4% growth.

Elsewhere, Federal Reserve Bank of New York President William Dudley said earlier Thursday that the U.S. central bank will keep monetary stimulus programs in place if economic recovery falters.

Dudley's comments and weaker-than expected economic growth figures stoked expectations for the Federal Reserve to keep stimulus programs in place for the coming months, which pushed the dollar lower Thursday.

The greenback was up against the pound, with GBP/USD trading down 0.34% at 1.5263.

The pound came under pressure after revised data showed that the U.K. economy expanded at an annual rate of 0.3% in the first quarter of this year, down from a preliminary estimate of 0.6% growth. The quarterly growth rate remained unrevised at 0.3%.

The dollar was up against the yen, with USD/JPY up 0.59% at 98.29, and up against the Swiss franc, with USD/CHF trading up 0.15% at 0.9448.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.08% at 1.0477, AUD/USD up 0.01% at 0.9279 and NZD/USD trading down 0.04% at 0.7788.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.07% at 83.15.

On Friday, the U.S. will release a report on manufacturing activity in Chicago and revised data from the University of Michigan on consumer sentiment.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

New Zealand Building Consents falls less-than-expected

Investing.com - The number of new building consents issued in New Zealand fell less-than-expected last month, official data showed on Thursday.

In a report, Statistics New Zealand said that New Zealand Building Consents fell to a seasonally adjusted 1.3%, from 18.5% in the preceding month.

Analysts had expected New Zealand Building Consents to fall to -3.9% last month.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

Forex - Dollar gains as market shrugs off U.S. GDP revisions

Investing.com - The dollar strengthened against most major currencies on Wednesday after investors shrugged off downward revisions to first-quarter U.S. growth rates.

Better-than-expected consumer confidence, factory and housing data released earlier this week stoked already growing expectations that the Federal Reserve will soon begin to scale back stimulus programs.

Monetary stimulus tools such as the Fed's monthly USD85 billion bond-buying program weaken the dollar to spur recovery, and talk of their dismantling can strengthen the U.S. currency.

In U.S. trading on Wednesday, EUR/USD was down 0.53% at 1.3011.

The euro weakened after European Central Bank President Mario Draghi said any ECB plan to adjust loose monetary policy 'remains distant' but added that the bank expects a "gradual recovery" by the end of this year.

Meanwhile in the U.S., the Commerce Department said gross domestic product expanded at an annual rate of 1.8% in the three months to March, below an earlier estimate of 2.4% growth. Economists had expected the growth rate to remain unchanged at 2.4%.

The report said consumer spending was revised down from 3.4% to 2.6%.

The numbers briefly dampened hopes for the Federal Reserve to scale back stimulus measures, though confidence such programs are on their way out quickly returned and sent the greenback gaining, especially in wake of recent manufacturing, confidence and housing-sector reports that beat expectations.

U.S. consumer confidence, for example, rose to its highest level since January 2008 this month.

The Conference Board said on Tuesday that its index of U.S. consumer confidence rose to 81.4 in June from 74.3 in May, well above expectations for a reading of 75.4.

Elsewhere, Germany's Gfk consumer climate rose unexpectedly, data showed.

In a report, research group Gfk said that its forward-looking index of Germany's consumer climate rose to 6.8 looking forward to July from 6.5 for June.

Analysts had expected Gfk consumer climate to remain unchanged at 6.5 last month.

The greenback was up against the pound, with GBP/USD trading down 0.63% at 1.5325.

The dollar was up against the yen, with USD/JPY up 0.06% at 97.84, and up against the Swiss franc, with USD/CHF trading up 0.50% at 0.9428.

The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.41% at 1.0471, AUD/USD up 0.21% at 0.9280 and NZD/USD trading up 0.69% at 0.7794.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.48% at 83.18.

On Thursday, the U.S. is to release the weekly government report on initial jobless claims along with data on personal income and expenditure, which is to be followed by private sector data on pending home sales.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

New Zealandrsquo;s trade balance falls unexpectedly

Investing.com - New Zealand's trade balance fell unexpectedly last month, data showed on Thursday.

In a report, Statistics New Zealand said that the trade balance fell to a seasonally adjusted 71M, from 157M in the preceding month.

Analysts had expected the trade balance to rise to 400M last month.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

Forex - Dollar gains on improving U.S. confidence, housing data

Investing.com - The dollar strengthened against most major currencies on Tuesday after better-than-expected consumer confidence and housing data stoked already growing expectations that the Federal Reserve will begin to scale back stimulus programs in the coming months.

Monetary stimulus tools such as the Fed's monthly USD85 billion bond-buying program weaken the dollar to spur recovery, and talk of their dismantling can strengthen the U.S. currency.

In U.S. trading on Tuesday, EUR/USD was down 0.22% at 1.3092.

Data released earlier revealed that U.S. consumer confidence rose to its highest level since January 2008 this month.

The Conference Board said its index of U.S. consumer confidence rose to 81.4 in June from 74.3 in May, well above expectations for a reading of 75.4.

In a separate report, the Commerce Department said U.S. orders for durable goods rose 3.6% in May, outstripping expectations for a 3.0% gain.

Positive data from the housing market sent the dollar gaining as well.

The Commerce Department said U.S. new home sales rose by 2.1% to 476,000 units in May, the highest level since July 2008 and well above expectations for an increase of 1.3% to 462,000.

Home prices are on the rise as well.

The Standard & Poor's/Case-Shiller 20-city house price index rose 12.1% in April from a year earlier, above expectations for a 10.6% increase.

U.S. home prices in March rose by 10.9%.

The greenback was up against the pound, with GBP/USD trading down 0.08% at 1.5422.

The dollar was mixed against the yen, with USD/JPY up 0.02% at 97.76, and up against the Swiss franc, with USD/CHF trading up 0.51% at 0.9382.

The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.17% at 1.0517, AUD/USD up 0.19% at 0.9266 and NZD/USD trading down 0.14% at 0.7741.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.19% at 82.79.

On Wednesday, the U.S. is to release revised data on first-quarter economic growth as well as government data on crude oil stockpiles.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

U.S. API Weekly Crude Stock falls less-than-expected

Investing.com - U.S. API weekly crude stocks fell less-than-expected last month, official data showed on Thursday.

In a report, American Petroleum Institute said that U.S. API Weekly Crude Stock fell to a seasonally adjusted annual rate of -0.03M, from -4.29M in the preceding month.

Analysts had expected U.S. API Weekly Crude Stock to fall -2.00M last month.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

South Korean consumer confidence rises

Investing.com - The current level of consumer confidence in South Korea rose last month, official data showed on Thursday.

In a report, The Bank Of KOREA said that South Korean Consumer Confidence rose to 105, from 104 in the preceding month.

Analysts had expected South Korean Consumer Confidence to rise to 105 last month.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

U.S stocks dip on Fed woes, China corrections; Dow loses 0.94%

Investing.com - U.S. stocks fell on Monday amid a global selloff on concerns the Federal Reserve will begin scaling back stimulus programs in the coming months.

Stimulus programs tend to push up stocks as a side effect, and talk of their dismantling can send equities prices dropping.

At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.94%, the S&P 500 index ended down 1.21%, while the Nasdaq Composite index fell 1.09%.

On Thursday, the Federal Reserve Bank of Philadelphia said that its manufacturing index rose to 12.5 in June from -5.2 in May, well above expectations for a -2.0 reading.

A separate report showed that U.S. existing home sales climbed 4.2% to 5.18 million units in May from April's total of 4.97 million, far surpassing market calls for a 0.6% increase.

Federal Reserve stimulus tools such as a monthly USD85 billion bond-buying program have pushed up stock prices in recent years, and the end of such liquidity injections could prompt investors to park their money elsewhere at least for a while.

Meanwhile, Chinese equities fell on concerns the world's second-largest economy may be cooling, which brought U.S. stocks down even lower.

Leading Dow Jones Industrial Average performers included Johnson & Johnson, up 1.69%, Microsoft, up 1.35%, and UnitedHealth Group, up 1.17%.

The Dow Jones Industrial Average's worst performers included Bank of America, down 3.07%, Hewlett-Packard, down 3.00%, and Intel, down 2.54%.

European indices, meanwhile, finished lower.

After the close of European trade, the EURO STOXX 50 fell 1.48%, France's CAC 40 fell 1.71%, while Germany's DAX 30 finished down 1.24%. Meanwhile, in the U.K. the FTSE 100 finished down 1.42%.

On Tuesday, the U.S. is to publish official data on durable goods orders, a leading indicator of production, as well as closely watched reports on consumer confidence and new home sales.

Investing.com - Investing.com offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @ Newsinvesting

08.10 | 0 komentar | Read More

Preview: Federer relishing challenge of defending title the hard way

By Toby Davis

LONDON (Reuters) - There are few players who would welcome the prospect of facing Rafa Nadal, Andy Murray and Novak Djokovic in succession but Roger Federer is made of sterner stuff than most.

The Wimbledon champion will stride confidently onto Centre Court to face Victor Hanescu on Monday, 10 years after winning the first of his seven titles here, and says he is not casting a wary eye beyond the Romanian for what lies in wait.

The opening day's action will also feature Nadal and Murray, after the tennis fates conspired to group three of the game's dominant quartet in the same side of the draw.

The remaining member of that elite group, Djokovic, will keep his powder dry until Tuesday, and is a likely final opponent for whoever battles through.

"It was never supposed to be easy winning grand slams," the Swiss, who is eyeing another title to surpass Pete Sampras and William Renshaw as the most decorated man at the All England Club, told reporters on Sunday.

"I'm ready for the challenge. I like tough draws. I don't shy away from them...

"I have a very difficult draw with Rafa being in my quarter... If you want to win the tournament here, you have to beat the best. That's what I'm here for."

The lopsided draw was thrown up because French Open champion Nadal endured a seven-month injury absence following last year's Wimbledon, leaving the Spaniard fifth in the rankings behind compatriot David Ferrer.

Nadal, Wimbledon champion in 2008 and 2010, begins his campaign in the less popular surroundings of Court One against Belgium's Steve Darcis to make way for home hope Andy Murray on Centre.

Federer, who won his first title of the season at Halle last week, resisted any temptation to query Nadal's seeding, choosing to talk tough instead.

"For me, it's not even worth the talk because it is what it is," the 31-year-old said. "It's not like he's unseeded. He is seeded within the top eight.

"He is seeded, so you don't face him in the first round. Quarter-finals are still a long way away."

Murray, last year's beaten finalist, faces Germany's Benjamin Becker after women's number three seed Maria Sharapova's match against France's Kristina Mladenovic.

The Briton is fuelled with hope following a brilliant year that included a straight-sets gold-medal victory over Federer at the Olympics and a U.S. Open title won in a punishing five-set encounter with Djokovic.

A back injury ruled him out of the French Open, handing him a lengthier preparation than his rivals for the short grasscourt season, while victory in the final of the Aegon Championships at Queen's confirmed he is in top shape.

Federer reduced Murray to tears by winning last year's final but singled the Briton out as the outstanding grasscourt player heading into the championships.

"For me he seems like maybe most natural on this surface. But then the other guys are already Wimbledon champions, Rafa and Novak. Ferrer's in the top four. He's also very good on grass," said the third-seeded Swiss.

"But to me Andy sort of stands out a little bit over the others."

The women's game has been given an extra edge after Sharapova and defending champion Serena Williams became embroiled in a tetchy row on the eve of the championships.

The Russian has been kept apart from Williams in the draw meaning the two rivals will not get the chance to settle their differences on court until at least the final.

World number two Victoria Azarenka is in Sharapova's half and begins her campaign on Monday with a Court One clash against Portugal's Maria Joao Koehler. (Reporting by Toby Davis; editing by Pritha Sarkar)

08.10 | 0 komentar | Read More

Blanc says close to being named PSG coach

PARIS (Reuters) - Former France coach Laurent Blanc said on Sunday he was very close to being named the new boss of French champions Paris St Germain.

Media had reported that the 47-year-old Blanc, who won the French title with Girondins Bordeaux in 2009, had already struck a deal with the Ligue 1 club.

PSG have been looking for a new coach since Carlo Ancelotti said he wanted to leave after leading them to their first domestic crown since 1994 in May.

The Italian has been linked in the media with Real Madrid, where the manager's position is vacant following Jose Mourinho's return to English side Chelsea.

"I will be in Paris on Monday to talk with them. It's very likely that I'll sign," Blanc was quoted as saying on the website of daily Le Parisien (www.leparisien.fr).

"I can't say more as of now, we'll know more next week," added Blanc.

"PSG is a great opportunity, a very good club. It's very interesting. I'll do what I want to - coach."

Blanc, who won the 1998 World Cup as a player, has repeatedly said in recent months that he was eager to be back in work after leaving his job with France following their 2012 Euro quarter-final exit.

(Writing by Gregory Blachier; Editing by Mark Meadows)

08.10 | 0 komentar | Read More

Find out: Costs of 2BHK areas acorss all metros

Prime property, the weekly real estate reckoner, finds out the prices of 2 BHK apartments across the four metros of Mumbai, Delhi, Chennai and Kolkata. 

Mumbai's property market remains subdued. High prices continue to dampen buyer sentiment. Jones Lang LaSalle is particularly bullish on the western suburbs and Navi Mumbai. It also advises buyers to hold on to purchases for now.

Rohan Sharma, Senior Manager Research, at Jones Lang LaSalle India says, "For a buyer it might make sense for him to see if the continued pressure on developers on unsold inventory makes them come down on prices. That trend has not been seen. But increasing pressure may lead to a situation where they might be able to get better. Schemes are being introduced in which they can enter into the market. So, they might get favourable payment terms and they might want to hold on for a minute and then enter the market."

Also read: 13 insights for India real estate in 2013

Mumbai's loss is often seen as Pune's gain. With the average price being less than Rs 5,000 a square feet Jones Lang LaSalle is bullish on Pune as an investment option.

"We have locations like Wakad and Aundh towards western side and Hadapsar which are doing well. However, they are still yet to pick up pace on the overall level of development. So, prices may not move up very quickly", adds Sharma.

New Delhi's builder flats have also witnessed a slowdown. Builders in Defence Colony and Panchsheel Park have been finding it difficult to sell independent floors but still don't want to budge on prices.

These flats are being viewed as too expensive and buyers have a plethora of options in the suburbs of Gurgaon and Noida with bigger specks and plenty of amenities.

"In terms of investment activity the Dwarka Expressway is seeing a lot of launches and good traction. There was a lot of end-user activity in this part of Gurgaon. Now, price points have increased, projects are being offered with better specifications. So, investor activity is also happening here. However, there are situations where a project priced at Rs 6500 a square foot in the primary market from a developer an investor is willing to sell-off at around Rs 5500-5600 a square feet.

Bangalore has seen many launches off-late. Jones Lang LaSalle says prices as well as rents have increased marginally since April. It expects rents for residential properties to continue to head north.

Sharma says, "Hebbal Flyover, in a radius of 3-4 kilometers, there is a good amount of residential activity happening. There is the North-East quadrant which we talk about Bangalore and where most of the residential launches and sales are happening."

And in Chennai Old Mahabalipuram Road (OMR) continues to be the hotspot for new launches. However a few high-end launches in the City Centre, where there is little available land, have been witnessed.

Overall Chennai is a stable market with no major movement expected in prices.

"Prices are looking stable in Chennai and they are merging corridors. They will take a while and this is a slightly slower market with respect to overall sales. So, entering today or maybe three, four months down the line would not make much of a difference on pricing", adds Sharma.

Prices in Kolkata have remained steady. It is not easy to get a home in Central Kolkata as the concept of apartment complexes is still developing. All the action though seems to be at Eastern Metropolitan (EM) bypass and Rajarhat.

Sharma says, "EM Bypass has projects available at higher end segment. They can go as high as Rs 14,000-15,000 a square feet and prices at Rs 7,000-8,000. So, a larger part it is catering to the upper-mid to a slightly luxury segment kind of profile. Rajarhat is slightly on the lower side. It is more an affordable location. Prices are typically between Rs 3,000-5,000 a square feet."

08.10 | 0 komentar | Read More

Here's what Atul Suri learnt from Rakesh Jhunjhunwala

Renowned trader Atul Suri focussed on the importance of sticking to fundamentals and knowing valuations before making investment decisions at CNBC-TV18's biggest investor initiative service -- Investor Camp. He shared his lessons on investment and trading learnt from Rakesh Jhunjhunwala; for whom he works with and trades for.

He also focused on sticking to the basics which becomes the thumb rule while investing. He cited the investment decision examples from Jhunjhunwala for whom he works with and trades for.

Also read: Golden ratings era ending for emerging markets

Suri said that he learnt that the important part of investment strategy was to live and work with the rules of investment and do adequate research before any such decision. "Using price to earnings (PE), discounted cash flow (DCF) are all semantics. The important part is the valuations", he added.

He called trading as a very momentum-based activity. On one evening, a trader might be bullish on the market and then sell of everything the next morning. That is the mind of the trader; an ability to turn on a dime based on price, he said. 

Speaking on portfolio management, he said that the common mistake done by everyone was to get confused with advices and speculations. He cited examples on how portfolios are influenced by rumours, insider information.

Once the price of such stocks comes down, then one goes back to valuations and basics and it (the stock) becomes a part of the long-term portfolio, he said. That keeps on adding to the portfolio and eventually ends up being one which is down 70-90 percent, he added.

Very few people really work that hard or are that oriented towards investment. Most people just try to play momentum based on what somebody has told you and it becomes a long term portfolio.

08.10 | 0 komentar | Read More