DAILY MARKET REPORT – 1 AUGUST 2012

The markets ended on a flat note today on lack of global and domestic news. IT and Metal stocks saw pressure from sellers, while other declining exports and other PMI data caused investors to exercise caution today.

India’s exports declined 5.5 percent to USD 25.1 b in June with imports falling to USD 35.4 b, leading to a trade deficit of USD 10.3 b. The HSBC PMI data for China and India came out and both nations saw declining data, with India suffering its biggest month-on-month drop in the PMI. Elsewhere, European PMI data from Italy, France, Germany, U.K and the European Union all declined for the month of July, most notable the UK PMI. On the economic front, we have a lot of data coming from the US, with the ISM Manufacturing Index, its Non farm employment change data. But the biggest of them all is the U.S Federal Reserve’s decision on the interest rates followed by the FOMC’s statements. Could see the markets to remain choppy to end flat either sides. This, combined with ECB’s interest rate decision could lay the path for this week.

Asian markets declined, generally on China’s lower PMI data. Europe is mixed but marginally higher ahead of the Fed’s meet.

Coming back to the Indian markets, the Sensex closed at 17257.38, up 21 points (0.12%) on highs of 17291.99 and a low of 17189.16 points today. The Nifty closed 11.50 points higher at 5240.50 points on highs 5246.30 and a low of 5212.65 today.

On sectoral indices on the BSE, the Healthcare Index rose 1.32 percent, the Capital Goods Index rose 0.95 percent and Power Index gained 0.91 percent. The Metal Index declined 0.66 percent, the Oil & Gas Index was lower by 0.58 percent and the IT Index declined 0.40 percent.

On the stock front, Cipla rose 4.4 percent in trade on better than expected results. Reliance, L&T, Infosys and HUL rose between 0.4 – 0.8 percent. Tata Motors rose 0.6  percent after its sales for July rose 15 percent y.y to 74,159 units. Reliance overtook ONGC to become the most valued co. on market capitalization. Adani Power declined on lower results.

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

(Economic Times, Business Standard, CNBC and Moneycontrol)



Categories: General News

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