SENSEX 16677.88 -202.63
NIFTY 5054.75 -66.70
USD/INR 0055.61 +00.67
NASDAQ 2835.14 +16.53
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UPDATEDTIME 09.28 PM 14 JUNE 2012
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The BSE Sensex provisionally
closed 200 points lower while Nifty slipped below its 200-DMA on
Thursday after the government released much-awaited inflation numbers
for the month of May.
India's wholesale price index (WPI) rose 7.55 percent in May from a year earlier, driven by double-digit rise in food and fuel prices, government data showed on Thursday.
The March inflation was revised upwards from 6.89% provisional to 7.69%. The market reacted negatively to the news and slipped downwards.
India's wholesale price index (WPI) rose 7.55 percent in May from a year earlier, driven by double-digit rise in food and fuel prices, government data showed on Thursday.
The March inflation was revised upwards from 6.89% provisional to 7.69%. The market reacted negatively to the news and slipped downwards.
More than
expected high inflation rate caused jitters in the market as to the reaction of
the RBI in the forthcoming policy meeting on 18th," he said. Analysts on
average had expected an annual rise of 7.70 percent, according to an ET Now
Poll.
The Nifty index is likely to move in the broad range of 4800-5300 in the medium term. A closing below 200-DMA at 5070 on the Nifty could lead to further downside up to 4950 in the short term.
However, if Nifty is able to sustain levels above 5070 today, it could recover in the next couple of days to re-test the 5130 level.
Even though the 50-share index is likely to remain volatile, the broader range is likely to be 4800-5300 in the short term, according to analysts.
Markets seem perturbed by the strikingly high inflation number for the month of May. However, we expect this to make it all the more difficult for RBI to cut interest rates beyond 25 bps in its scheduled policy review on the 18th.
"We see 4980 as the next major and most crucial support on the index and would advise traders to keep booking profits on both shorts and long positions as volatility is most likely to persist in the week following this one.
The Nifty Index ended at 5,054.75, down 66.70 points or 1.3 percent. It touched an intraday high of 5,130.00 and a low of 5,082.45.
The Sensex closed at 16,677.88, down 202.63 points or 1.23 percent. It touched an intraday high of 16,921.49 and a low of 16,765.36.
The BSE Midcap Index ended down 1.3 percent and the BSE Smallcap Index closed 0.6 percent lower.
The BSE Banking Index closed 2.9 percent lower, the BSE Realty Index declined 3.04 percent and the BSE Capital Goods Index closed 2.89 percent lower.
The BSE IT Index rose 0.2 percent and the BSE Technology Index advanced 0.04 percent.
Top traded stocks on the BSE included SBI, L&T and Tata Motors Ltd.
Top Sensex gainers included Infosys Ltd, which ended 1.1 percent higher at Rs 2498.75, followed by Cipla Ltd, which was up 0.3 percent at Rs 304.95.
Top Sensex losers included Tata Motors, which ended 4.6% lower at Rs 226.95, followed by L&T, which was down 4.06% at Rs 1295.25.
Banking shares corrected sharply after wholesale price inflation accelerated to 7.55 percent in May from a year earlier, though core WPI is estimated at around 4.85 percent.
The Nifty index is likely to move in the broad range of 4800-5300 in the medium term. A closing below 200-DMA at 5070 on the Nifty could lead to further downside up to 4950 in the short term.
However, if Nifty is able to sustain levels above 5070 today, it could recover in the next couple of days to re-test the 5130 level.
Even though the 50-share index is likely to remain volatile, the broader range is likely to be 4800-5300 in the short term, according to analysts.
Markets seem perturbed by the strikingly high inflation number for the month of May. However, we expect this to make it all the more difficult for RBI to cut interest rates beyond 25 bps in its scheduled policy review on the 18th.
"We see 4980 as the next major and most crucial support on the index and would advise traders to keep booking profits on both shorts and long positions as volatility is most likely to persist in the week following this one.
The Nifty Index ended at 5,054.75, down 66.70 points or 1.3 percent. It touched an intraday high of 5,130.00 and a low of 5,082.45.
The Sensex closed at 16,677.88, down 202.63 points or 1.23 percent. It touched an intraday high of 16,921.49 and a low of 16,765.36.
The BSE Midcap Index ended down 1.3 percent and the BSE Smallcap Index closed 0.6 percent lower.
The BSE Banking Index closed 2.9 percent lower, the BSE Realty Index declined 3.04 percent and the BSE Capital Goods Index closed 2.89 percent lower.
The BSE IT Index rose 0.2 percent and the BSE Technology Index advanced 0.04 percent.
Top traded stocks on the BSE included SBI, L&T and Tata Motors Ltd.
Top Sensex gainers included Infosys Ltd, which ended 1.1 percent higher at Rs 2498.75, followed by Cipla Ltd, which was up 0.3 percent at Rs 304.95.
Top Sensex losers included Tata Motors, which ended 4.6% lower at Rs 226.95, followed by L&T, which was down 4.06% at Rs 1295.25.
Banking shares corrected sharply after wholesale price inflation accelerated to 7.55 percent in May from a year earlier, though core WPI is estimated at around 4.85 percent.
Regards
RAKESH MAKIN
+91, 9041667797(DIRECT),
9915684997
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
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