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Copenhagen: The world’s best spin-doctors couldn’t put much of a glow on the Copenhagen summit. Representatives of 120 countries gathered in the Danish capital with solemn pledges to draft an international treaty to fight man made climate change, but all that emerged was a vague text with a few good intentions and no firm commitments. It"s not much comfort to think that no treaty might be better than a hastily composed bad one.

Support seen at 4,900 level
The Nifty closed below 5,000 on Friday due to unwinding of long positions and fresh shorts build-up by foreign institutional investors (FIIs). We had indicated in our December 10 report that the index might not hold the 5,000 level in near future. Technically, the market is trading in a bearish triangle pattern and fresh correction is expected next week with strong support around the 4,900 level. The daily Relative Strength Index has drifted below the mean level of 50, indicating caution. Any failure to rise from the current level could see the index drift lower to test the 4,940 level.

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Budget should provide augmented fiscal deficit data:RBI report
The government needs to provide an augmented fiscal deficit data in the budget to reflect the burden of off-budget items, including oil and fertiliser bonds on the exchequer, suggested a RBI Committee.
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Maruti sales soar 32% in Oct

The country"s largest car maker Maruti Suzuki India today reported a 32.45 per cent jump in total sales, at 85,415 units, in October compared to the same period last year. - TVS reports 12% increase in October sales - GM India Oct sales up 15% at 7,413 units - Japan"s vehicle production dives to 34-year low - Britannia net up 11% for Q2 - Marico rises 3.8% - A K Bhattacharya: Disinvestment without a purpose">A K Bhattacharya: Disinvestment without a purpose Sales in the domestic market grew 21.01 per cent to 71,551 units in the last month from 59,127 units in the same month last year, while exports rose over two-fold to 13,864 units compared with 5,363 units in the year-ago period, Maruti Suzuki India (MSI) said in a statement. Sales of the company"s oldest and once bread-and-butter model M800 declined by 5.53 per cent at 3,124 units from same period last year, while A2 segment (comprising Alto, Wagon R, Estilo, Swift, A-Star and Ritz) witnessed a growth of 18.43 per cent at 51,437 units compared to same period last year. Sales in the A3 segment (consisting of SX4 and DZiRE) increased 62.68 per cent to 8,804 units compared with 5,412 units in the corresponding period last year, the company said. MSI"s passenger car sales in October rose 21.99 per cent at 71,383 units against 58,515 units in the same month in 2008, the statement added.


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