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In a revised study on trends in the global tech industry, technology research and advisory firm Gartner stated that the European sovereign debt crisis and a feebler euro will impact global IT spending during the existing year (2010).

In a report, Gartner research vice president Richard Gordon stated, "The European sovereign debt crisis is having an impact on the outlook for IT spending, which is projected to grow 3.9 percent in 2010 to $3.35 trillion as against $3.23 trillion in a recession-hit 2009."

The 30-share index Sensex today increased up by 51.75 points to 17,561.08 during the opening trade, regaining overnight losses, on the back of fresh demand from stockists.

The Sensex lost 191.57 points to 17,509.33 on Thursday (July 01).

The Nifty of National Stock Exchange (NSE) also gained 12.55 points to 5,263.95 as against its last closure at 5,251.40.

The Sensex hit the intra-day high and low of 17,598.94 and 17,522.24 respectively, whereas the Nifty touched an intra-day peak of 5,277.25 and low of 5,251.25.

Pepper July delivery gained Rs 141 and settled at Rs 18040/quintal boosted by export demand amid limited domestic supplies. Pepper prices will stabilize with positive bias. Pepper exports fell 22 percent to 19,750 tonnes in April-March period, but traders say shipments have been picking up. Spot pepper gained168 rupees to end at 17,892 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 18138/quintal while low of Rs 17852/quintal. Now support for the pepper is seen at 17882 and below could see a test of 17724. Resistance is now likely to be seen at 18168, a move above could see prices testing 18296.

Trading Ideas:

Guar yesterday we have seen that market has moved -1.23% on poor demand in the physical market and hop

Talks between Brazilian miner Vale SA and the United Steelworkers union to end an 11-month-old strike at Vale's nickel operations in Ontario have been terminated, as the two sides were deadlocked. Nickel has touched a low of Rs 895 a kg after opening at Rs.917, and last traded at Rs 902.9.For today market is looking for the support at 892.9, a break below could see a test of 883 and where as resistance is now likely to be seen at 914.9, a move above could see prices testing 927.

Trading Ideas:

Nickel trading range is 883-927.

Vale, USW strike talks over fired employees end in deadlock

Japan's refined zinc exports for May fell 39 percent from a year earlier to 8,717 tonnes, with Taiwan accounting for the largest share of export volume, Ministry of Finance data showed. Zinc yesterday we have seen that market has moved -1.16%. Market has opened at 82.7 & made a low of 81.55 versus the day high of 82.85. The total volume for the day was at 22174 lots and the open interest was at 7755.Now support for the zinc is seen at 81.5 and below could see a test of 80.9. Resistance is now likely to be seen at 82.8, a move above could see prices testing 83.5.

Trading Ideas:

Zinc trading range is 80.9-83.5.