SENSEX 17213.70 -18.85
NIFTY 5227.25 -08.00
USD/INR
0055.10 -00.83
NASDAQ
2893.50 +27.31
GOLD 29285.00
+63.00
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UPDATEDTIME 09.28 PM 13 JULY 2012
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The Nifty gave
up intraday gains and closed marginally in the red due to lack of buying
interest among investors in absence of positive cues. WPI inflation data,
Reserve Bank of India's (RBI) policy meet and government reforms will provide
direction to the market in comings sessions.
The WPI inflation for June is expected to be 7.6% vs 7.5% in May 2012. It will be difficult for the RBI to cut rate unless the government take some tough measures, say analysts.
"Looking ahead, inflation data for June, quarterly results and monsoons will hold the market’s attention over the next two weeks. The Presidential elections will be over soon and expectations are that, the government will move ahead with reforms.
The actions of the government will likely have a bearing on the RBI rate decision towards the end of the month. We maintain that, government reforms are a pre-requisite for markets to move up sustainably.
Meanwhile, the Prime Minister has approved the constitution of an expert committee on GAAR (General Anti-Avoidance Rules) to undertake stakeholder consultations and finalise the guidelines for GAAR. Dr. Parthasarathi Shome will be the Chairman of the GAAR committee. N Rangachary, Dr Ajay Shah and Shri Sunil Gupta will be members.
There are also reports that the government may announce a hike in diesel prices after the Presidential elections. If the government goes ahead with the decision then it might give some confidence to the investors.
The Sensex ended at 17,213.70, down 18.85 points or 0.11 percent. It has touched a high of 17,342.88 and a low of 17,182.29 in trade today.
The Nifty closed at 5,227.25, down 8 points or 0.15 percent. It has touched a high of 5,267.15 and a low of 5,216.85 in trade today.
There is heavy news flow both from government as well as corporates so just keep it light, lower your volumes, have lower number of positions.
5,180-5,200 is a decent downside support. On the upside, we will have trouble getting past 5,350. Market is in a consolidation and still in an uptrend.
The BSE Midcap Index was down 0.22 percent and the BSE Smallcap Index edged 0.11 percent lower.
Among the sectoral indices, the BSE Realty Index was down 1.37 percent, the BSE Metal Index declined 1.15 percent, the BSE Power Index was 0.68 percent lower and the BSE IT Index slipped 0.44 percent.
Jindal Steel (3.80%), Hindalco Industries (2.40%), Tata Power (2.18%), State Bank of India (1.94%) andInfosy Technologies (1.83%) were among the major Nifty losers.
Hero MotoCorp (1.22%), TCS (1.06%), HDFC Bank (1.02%), ONGC (0.88%) and HCL Tech (0.79%) were among the major gainers.
The WPI inflation for June is expected to be 7.6% vs 7.5% in May 2012. It will be difficult for the RBI to cut rate unless the government take some tough measures, say analysts.
"Looking ahead, inflation data for June, quarterly results and monsoons will hold the market’s attention over the next two weeks. The Presidential elections will be over soon and expectations are that, the government will move ahead with reforms.
The actions of the government will likely have a bearing on the RBI rate decision towards the end of the month. We maintain that, government reforms are a pre-requisite for markets to move up sustainably.
Meanwhile, the Prime Minister has approved the constitution of an expert committee on GAAR (General Anti-Avoidance Rules) to undertake stakeholder consultations and finalise the guidelines for GAAR. Dr. Parthasarathi Shome will be the Chairman of the GAAR committee. N Rangachary, Dr Ajay Shah and Shri Sunil Gupta will be members.
There are also reports that the government may announce a hike in diesel prices after the Presidential elections. If the government goes ahead with the decision then it might give some confidence to the investors.
The Sensex ended at 17,213.70, down 18.85 points or 0.11 percent. It has touched a high of 17,342.88 and a low of 17,182.29 in trade today.
The Nifty closed at 5,227.25, down 8 points or 0.15 percent. It has touched a high of 5,267.15 and a low of 5,216.85 in trade today.
There is heavy news flow both from government as well as corporates so just keep it light, lower your volumes, have lower number of positions.
5,180-5,200 is a decent downside support. On the upside, we will have trouble getting past 5,350. Market is in a consolidation and still in an uptrend.
The BSE Midcap Index was down 0.22 percent and the BSE Smallcap Index edged 0.11 percent lower.
Among the sectoral indices, the BSE Realty Index was down 1.37 percent, the BSE Metal Index declined 1.15 percent, the BSE Power Index was 0.68 percent lower and the BSE IT Index slipped 0.44 percent.
Jindal Steel (3.80%), Hindalco Industries (2.40%), Tata Power (2.18%), State Bank of India (1.94%) andInfosy Technologies (1.83%) were among the major Nifty losers.
Hero MotoCorp (1.22%), TCS (1.06%), HDFC Bank (1.02%), ONGC (0.88%) and HCL Tech (0.79%) were among the major gainers.
Regards
RAKESH MAKIN
+91, 9041667797(DIRECT),
9915684997
OFF 0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
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