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Profit booking seen next week
The Nifty closed around 4,800 on Friday on short-covering by foreign institutional investors (FIIs) and strong global cues. However, the trading pattern on the F&O segment suggests that the index may face strong resistance above the 4,800 level. Technically, the Nifty has to cross its Friday high of 4,835 to keep its bullish momentum. If the index slips below its Friday low of 4,755, it may revisit the recent low next week. The SGX Nifty (November futures) closed at 4,767 as against its Friday close of 4,797 indicating weak opening on Monday.

Congress may retain CMs in three states
As the Congress held its fort in the key industrial states of Haryana and Maharashtra and strategically important Arunachal Pradesh, the three incumbent chief Ministers — Bhupinder Singh Hooda, Ashok Chavan and Dorjee Khandu — are likely to retain their place in the new governments.

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'You should always play the contrarian'
Sanjay Sinha is the chief executive officer of DBS Cholamandalam Asset Management, a joint venture between the Murugappa Group and DBS of Singapore. Prior to taking over as CEO a year ago, Sinha was the CIO of SBI Mutual Fund. In an interview with Ram Prasad Sahu, he talks about the global recovery, the need for support from the regulators, macroeconomic environment and investment themes that would play out over the medium term
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WTO rules against China; Victory for US

The United States has won a case against China at the World Trade Organisation which has ruled that it is illegally restricting imports of movies, music and books into the country. - Anti-dumping probes rise with green shoots - Hindi-Chini camaraderie at Copenhagen - US proposal to reopen Doha deals gets cold response - Dani Rodrik: Making Room for China">Dani Rodrik: Making Room for China - Cleaner environment processes can"t be dodged - Indian drugs face EU music The WTO Appellate Body yesterday held that China was obstructing trade by forcing foreign suppliers to distribute certain copyright-intensive products through state-owned companies which is inconsistent with the Beijing’s obligations with the WTO. “Today America got a big win...The Appellate Body’s findings are key to ensuring full market access in China for legitimate, high-quality entertainment products and the exporters and distributors of those products,” Ron Kirk, US Trade Representative, said. US companies and workers are at the cutting edge of these industries, and they deserve a full chance to compete under agreed WTO rules, he said. “We expect China to respond promptly to these findings and bring its measures into compliance,” Kirk added. Monday’s Appellate Body report and the WTO panel report, released on August 12, call on China to allow US companies to import into China films for theatrical release; audiovisual entertainment products, such as DVDs; music and other sound recordings; and reading materials. In fact, Western countries have been complaining against the restrictions for long, which say that China’s rapid rise as a trade power has been in part aided by unfair policies that boost sales of Chinese goods abroad while limiting imports into its market.


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