MARKET SUMMARY – 21 MAY 2012

The Indian markets ended on a marginal positive note with the Sensex 30 Index closing 30.51 points up at 16183.26 (+ 0.19%), while the Nifty closed up 14.60 points at 4906.05 (0.30%). The Sensex reached 16298.39 points on the higher side and a low of 16149.61 points in the day’s trade. The Nifty touched an intraday high of 4937.50 points and tested intraday lows of 4888.50 in trade today.

Indices gave up all their morning gains as global cues and local macroeconomic factors once again weighed on the rupee, which hit the 54.93 mark against the dollar, hitting a new life-time low. In addition, investment bank Morgan Stanley cut Indian’s FY12-12 growth forecast to 6.3 per cent from previous 6.9 per cent. IndusInd Bank has quoted a price target of INR 55.25 to the dollar in the near term.

On the individual stock front State Bank of India continued its winning streak, rising up to 4 per cent at INR 2018. In addition indices were also supported by Tata Power, Maruti Suzuki, Hindalco, Coal India, BHEL and L&T.

Finally commodities inched higher with WTI up 0.38 per cent hovering at USD 91.83, as UN and IAEA officials began their talks in Tehran, hoping for a possible breakthrough to ease sanctions and deflate the threat of war.

Kindly check the Market Summary tab for further information on stock-related data.

(Moneycontrol, Economic Times and NDTV Profit)



Categories: General News

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