DAILY MARKET REPORT – 17 JULY 2012

Lacklustre day of trade, volatile index, sums up the day. The Sensex closed a measly 1.99 points up or 0.01 percent at 17105.30 in trade today. The Sensex touched a high of 17236.08 and a low of 17,074.63 points in trade today. The Nifty closed 4.4 points or 0.08 percent lower at 5192.85 points. Nifty touched a high of 5236.70 and a low of 5181.70 in trade today.

RBI governor D Subbarao stated that India should come up with a Producer Price Index to measure inflation rather the current procedure as it was able to capture price changes of goods and services better.

On the sectoral indices front on the BSE, the Realty Index was down 1.47 percent, the Auto Index declined 1.41 percent, the Power Index was 1.34 percent down and the Capital Goods Index also fell 0.88 percent. The FMCG and Healthcare Index rose 1 and 0.83 percent respectively.

On the stock front, stocks of the Tata Group declined in trade today for the second consecutive session. TCS declined 2 percent, Tata Motors was lower by 1.5 percent; Tata Steel and Tata Power declined 0.7 percent each. Reliance Industries declined in trade to INR 719.15, down 0.16 percent, on warnings that its output would lower from the KG-D6 basin if the its latest capex plan is not announced. Axis Bank was down 2 percent on rising NPA’s inspite of posting higher 1Q12 numbers. Bajaj Finance also reported its earnings. Aviation stocks declined on price hike of aviation turbine fuels.

On the global markets, most of them in Asia rose on account of hopes of the Fed announcing a stimulus package for the economy. Asia rose well by around 0.5-1.00 percent, Hang Seng being the biggest gainer amongst the Indices. Europe is marginally positive in trade.

It was shocking to see HSBC Holdings being involved in investigations which could seriously malign its image. The co. was accused of money laundering, bypassing sanctions by lending to Iran and to various terrorist organizations.

Spain auctioned its debt worth EUR 3.5 b worth of short term debt on lower yields.

All eyes on the Fed today as markets would look forward to stimulus inducing measures.

On the currency front, Rupee closed at 55.21, up 0.07 paise to the dollar.

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

(Bloomberg, Business Standard, Economic Times and Moneycontrol)



Categories: General News

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