DAILY MARKET REPORT – 2 AUGUST 2012

The markets ended lower in a range bound trading session on lack of any significant global economic data. As we covered earlier, investors would await the decision taken by ECB President Mario Draghi on benchmark interest rates. Yesterday, the U.S Fed left rates unchanged and with the Bank of England also sticking to not changing rates, it looks very much likely that the ECB could also follow suit. Will Draghi cut rates or not? Markets and investors are also waiting cautiously and hence the flat trading sessions today.

Coming back to the Indian markets, the Sensex closed at 17224.36 points, down 33.02 points or 0.19 percent on highs of 17246.01 and lows of 17157.28 points.

The Nifty closed at 5,227.75, down 12.75 points or 0.24 percent on highs of 5236.90 and lows of 5209.95 points in intraday trade today.

On the BSE, the Midcap Index gained 0.21 percent and the Smallcap Index rose 0.45 percent. The Oil & Gas Index was declined 1 percent, the Bankex fell 0.29 percent and Metal Index fell 0.28 percent. The Power Index rose 0.77 percent and the Capital Goods Index gained 0.64 percent.

On stock specifics, power giant NTPC rose 4 percent in trade after Coal India’s agreement this week to supply 80 percent of the coal needed to fuel new power projects eased concerns about supply of the key commodity. Tata Power gained 1.5 percent. Tata Motors declined 2 percent on lower sales numbers. NIIT Tech fell 6 percent to INR 280 as its promoters sold a 7.4 percent stake in the co. The rupee still hovers at 55.5 levels.

Summing up the session, the much touted Fed and BoE  decisions were non-events. All eyes on the ECB meet now.

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

(Economic Times, Bloomberg and Business Standard)



Categories: General News

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