DAILY MARKET REPORT – 28 JUNE 2012

The markets ended flat in trade on a volatile day of trading today. The outcome of the EU Summit is awaited which could provide direction in the shorter term to the markets. The Sensex 30 index closed 23 points higher at 16990.76 (0.14%) and the Nifty 50 closed 7.25 points higher at 5149.15 (0.14%) higher in days trade.

The Sensex touched an intraday high of 17033.85 and a low of 16918.87 in day’s trade today. The Nifty touched an intraday high of 5159.05 and a low of 5125.30 points today.

The EU Summit could lead to the possibilities of further stimulus packages or debt issuances by the ECB. The central bank could also cut rates in the coming period to calm the markets. Globally, markets were mixed on trade on account of the EU Summit. Asian indices and European markets traded cautiously or were lower in trade. Europe opened lower in trade today.

The Indian Rupee touched 56.98 levels as it rose by 0.17 points as PM Manmohan Singh signaled his intent to boost the economy.

On the stock front, OnMobile Global hit a record low of INR 32.65 on FII’s and investors reducing their holdings on the co. struggling with its operations. On the sectoral indices, BSE Oil & Gas Index was down 0.59 percent, Bankex was 0.59 percent down and the BSE Capital Goods Index declined 0.33 percent. The BSE FMCG Index was up 0.71 percent, BSE Power Index rose 0.18 percent and the BSE Auto Index gained by 0.01 percent.

Commodities moved lower with WTI at USD 80.05 down 0.20% and Brent trading at USD 92.92 down 0.62%. On the weather front, showers and thunderstorms are expected from plains to the Deep South and eastern seaboard.

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

(Business Standard, Economic Times and Moneycontrol)



Categories: General News

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