DAILY MARKET REPORT – 18 JULY 2012

The markets ended in the positive territory in today’s trade on positive global cues, the CPI inflation data which came in lower at 10.02 percent.The index saw buying activity in stocks in the metals, realty, capital goods and tech sectors. The Index however remains range bound between 5150 – 5300. Investors see not many major events happening in the markets and hence the narrow range. Fed however did not propose a QE issue and I guess, markets were waiting for such an event to provide short-term momentum.

The Sensex closed 79.71 points or 0.47 percent higher at 17185.01 points. The index touched a high of 17200.42 and a low of 17038.59 points in trade today. The Nifty closed 23.45 points higher to end at 5216.30 points. It touched a high of 5222.85 and a low of 5169.05 points in trade today.

From the global market scenario,Asia was lower in trade on the outcome of the Fed not introducing major stimulus measures. China ended marginally positive for an otherwise lower close. Europe however has opened higher, although marginally as earnings reports of co.’s buoyed markets.

Credit Suisse reported its earnings, but shares of the co. gained as it announced a slew of measures to cut costs, sell assets to add around CHF (Swiss francs) 8.7 b (USD 8.9 b) to boost its capital. With issues relating to the stability of the banks, the move would be welcomed by investors for the near term. But it remains to be seen as to how the co. would go about with it and its performance in the subsequent quarters.

On the sectoral indices front on the BSE, the Metal, Realty, Capital Goods and IT index gained by an average of 1 – 2 percent each. Auto and  while Auto, Oil  and Gas Indices declined in trade.

On the individual stock front, Greaves Cotton surged 9 percent to INR 67 a share on a volumes which of 3.33 m shares were 10x normal volumes. News of the co. signing a long term agreement with Atul Auto in the previous week saw the share price surge. Bajaj Auto posted its 1Q12 earnings and the stock closed higher by 2.4 percent at INR 1480 a share. Tata Motors declined 3 percent to INR 220 as the stock went ex-dividend today. The co. proposed a dividend of INR 4  a share.

On the currency front, the Rupee closed 0.23 paise higher at 55.28 to the US Dollar.

Commodities traded lower during the session with WTI at USD 88.76 down 0.52% and Brent trading at USD 103.73 down 0.26%. On the weather front, thunderstorm expected over Boston, New York, Philadelphia and Washington D.C.

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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