DAILY MARKET REPORT – 18 JUNE 2012

The Indian markets diverged from its global peers as the Reserve Bank of India left key policy rates and CRR unchanged. Sensex 30 index closed 244 points down at 16705.835 (1.44%). The Sensex touched a high of 17109.95 and a low of 16636.09 points in trade today. The Nifty 50 closed down 74.80 points at 5064.25 (1.46%) and it touched a high of 5190.20 and a low of 5057.25 in trade today. . Additionally government data showed that CPI inflation stood at 10.36 per cent Y/Y in May, while WPI inflation rose to 7.55 per cent in May from 7.23 per cent on M/M basis. RBI’s decision to keep interest rates unchanged was a significant factor which weighed on the stocks.

On the currency front rupee slid further hovering around INR 55.83/84.

In the individual stocks corner Tata Sponge rose almost 14 per cent in trade on news of 11.26 per cent stake acquisition by Tata Steel. Todays top gainers included Power Grid, Tata Steel, Bajaj Auto, Cairn and ACC. At the bottom end stocks included SBI, DLF, Sterlite Industries, ICICI Bank, PNB and HDFC Bank.

Globally markets have still held their gains, as Asian peers were buoyed by the results from the Greece elections. However the gains in the European markets have been trimmed as yield on the Spanish 10 year bonds remained elevated. The yields on the 10 year Spanish bonds rose by 25 basis points rising to 7.13 per cent. While Italian 10 year yields rose by 8 basis points to 6.21 percent.

Commodities have marginally pared back their gains with WTI at USD 84.04 up 0.01% and Brent trading at USD 97.69 up 0.08%. On the weather front, tropical rainstorm Carlotta is expected to collide with a tropical wave, creating a new center of circulation over the southern Gulf of Mexico. Additionally tropical cyclone Guchol is expected to bring torrential rains to Japan.

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

(Moneycontrol, Economic Times & Bloomberg)



Categories: General News

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