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SENSEX 17059.40 -71.11
NIFTY 5138.30
-22.70
NASDAQ 2449.83 +68.78
Indian
equities ended a choppy session in the red as investors booked profits on every
rise ignoring positive cues from Europe and the US. FMCG, oil&gas and
metals moved higher while rate sensitives like banks and realty closed lower.
Meanwhile, the rise in food inflation has raised concerns of possible rate hike by the Reserve Bank of India. India's food price index rose 9.90 percent for week ended July 30 against 8.04 per cent a week ago. Fuel price index climbed 12.19 percent against 12.12 per cent. The primary articles index was up 12.22 percent, compared with an annual rise of 10.99 percent a week earlier. "The weekly inflation numbers reveal once again that the rate of inflation, especially food inflation, is still ruling at elevated levels and is far from declining. It will be interesting to see how Reserve Bank balances the concerns arising from the persistent inflationary pressures in the domestic economy and the impact of the continuing global financial turmoil. The Reserve Bank of India will meet in September to review monetary policy. All eyes will be on the Index of Industrial Production data for the month of June 2011. According to a Reuters poll, India's IIP may slip to 5.5 per cent from a nine-month low of 5.6 percent in May. National Stock Exchange's Nifty closed at 5138.30, down 22.70 points or 0.44 per cent. The broader index touched a high of 5184.95 and low of 5121 in trade today. Bombay Stock Exchange's Sensex ended at 17059.40, down 71.11 points or 0.42 per cent. The 30-share index touched intraday low of 17012.95 and high of 17207.82. We are close to the bottom and the sentimental fall along with the global market is already done. Every decline should be used to buy stocks for a minimum of one-year perspective. PTC, IDFC, Biocon, Axis Bank look good from investment point of view.
BSE Midcap
Index was down 0.16 per cent and BSE Smallcap Index moved 0.19 per cent lower.
Amongst the sectoral indices, BSE Bankex was down 1.04 per cent, BSE Realty Index declined 0.86 per cent lower and BSE Capital Goods Index slipped 0.69 per cent. BSE FMCG Index was up 0.03 per cent. Tata Power (-4.60%), Axis Bank (-3.05%), Maruti Suzuki (-2.95%), Bharti Airtel (-2.91%) and BHEL (-2.27%) were the major Nifty losers. HDFC (2.68%), Reliance Infrastructure (2.65%), Reliance Capital (2.42%), Kotak Bank (2.16%) and NTPC (1.31%) were amongst the gainers. Reliance Infrastructure posted net profit of Rs 430.49 crore for quarter ended June 2011 as compared to Rs 246.25 crore in the corresponding quarter a year ago. Total income increased to Rs 3769.97 crore from Rs 2369.43 crore. Market breadth was negative on the NSE with 1684 losers against 1536 advances. The European markets were in the green but rally in the US stock futures tapered down ahead of jobless claims data.
Regards
RAKESH MAKIN
+91 9915684997,
9041667797(DIRECT)
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in |
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