Encounter breaks out at J&K’s Anantnag

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Srinagar, May 28 | An encounter broke out between terrorists and security forces in Jammu and Kashmir’s Anantnag district on Saturday, police said.

“Encounter has started at Shitipora Bijbehara area of Anantnag. Police and security forces are on the job,” police said.

The firefight broke out after a joint team of security forces, which cordoned off the area and launched a search operation on the basis of specific information about presence of terrorists, came under heavy fire as they zeroed in on the spot where terrorists were hiding.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

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