The Indian markets recovered from the session lows, as a slew of better than expected European data help lift market sentiments. Sensex 30 index closed 26.43 points down at 17197.93 (-0.15%), while the Nifty 50 closed down 12.05 points at 5215.70 (-0.23%). The markets dipped lower in the morning session, as the ECB dashed hopes of any immediate action with regards to easing the Spanish and Italian borrowing costs. The Sensex 30 index reached an intra-day high of 17,342.88 and low of 17,182.29. While Nifty 50 reached a high of 5219.55 and a low of 5166.90. On the currency front rupee hovered around INR 55.45 to the Dollar.

· Germany: Markit Service PMI for July at 50.3 vs. est. 49.7 vs. prev. 49.9.

· Eurozone: Markit Service PMI for July at 47.9 vs. est. 47.6 vs. prev. 47.1.

· Eurozone: Markit PMI Composite for July at 46.5 vs. est. 46.4 vs. prev. 46.4.

· Eurozone: Retail Sales on M/M basis for June at 0.1% vs. est. 0.0% vs. prev. 0.8%.

· Eurozone: Retail Sales on Y/Y basis for June at -1.2% vs. est. -1.4% vs. prev. -0.8%.

On the domestic front, an economic survey showed that, Indian economy is likely to grow by 6 to 6.2 percent in the current fiscal versus a previous of 6.5 per cent in 2011-12.

In the individual stock corner, today’s top gainers included Asian Paints, Wipro, Dr. Reddys Labs, ONGC and Gail At the bottom end stocks included Sterlite Industries, Jindal Steel, Tata Steel, Hindalco, IDFC and ICICI Bank.

Commodities traded higher during the session with WTI at USD 88.22 up 1.25% and Brent trading at USD 106.55 up 0.61%. Later in the day, US Department of Labor is expected to release Nonfarm Payrolls data for July. The current expectation stand at 100K versus a previous 80K; Unemployment rate for July expected at 8.2 per cent versus previous 8.2 per cent.

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

(Economic Times, Bloomberg ,Business Standard,FX Street)

Categories: General News

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