MARKET EYE-SGX Nifty gains; traders expect consolidation

Mon Jan 7, 2013 8:43am IST

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Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

* Nifty futures on the Singapore Exchange gain 0.21
percent. The MSCI-Asia Pacific index, excluding Japan
 is up 0.03 percent.      
* Asian shares outside Japan edged up on Monday, supported by
data showing the U.S. economy continuing on a path of slow but
steady recovery that had pushed Wall Street stocks to a
five-year high.  
* Foreign investors bought 11.64 billion rupees of stocks, while
domestic institutions sold 8.25 billion rupees of stocks on
Friday, when India's BSE index rose 0.1 percent.
* Indian shares are expected to remain in a narrow range ahead
of the October-December quarterly results from IT bellwether
Infosys Ltd on Friday, which will kick off the
earnings reporting season. 
* The market to also keep an eye on the Reserve Bank of India's
Deputy Governor K.C. Chakrabarty and finance ministry officials'
pre-budget discussion with bankers and representatives of
financial institutions in Delhi. (0630 GMT) 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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