On Friday 15 July 2011, Putting a halt to their two consecutive sessions' uptrend, local bourses finished the lackluster day of trade with a loss close to half a percent. Benchmark Indices after showcasing splendid performance in the morning trade failed to hold onto the optimism and soon slipped into the red territory as investors sold riskier assets amid concern a global slowdown will hurt corporate earnings. Besides, that the June Inflation numbers which sparked the hope of the RBI continuing its anti inflation stance in the upcoming monetary policy review scheduled to held next week, also activated the bears into the Indian equity markets. Fresh shorts that were built in the rate sensitive sector i.e. Auto, Realty and Bankex mainly lugged the market lower. However, some solace came into the markets in the form of good result announcement from the IT bellwether TCS, which injected strength into the IT index, thereby making it the top gainer index on the BSE sectoral front with a gain of over 0.25%. However, overall trade at Dalal Street remained range struck as investors chose staying on the sidelines ahead of the next big trigger, RBI monetary policy review on July 26, 2011. On the global front, US stocks fell on Thursday as Fed Chairman Ben Bernanke backed off hints additional near-term stimulus could be on the way, removing a possible catalyst from a market already facing plenty of obstacles. However,a set of strong earnings from US corporations aided sentiment to some extent. The European shares were headed for their biggest weekly fall in four months on Friday, with miners tracking weaker metals and financials coming under pressure ahead of a bank stress test report expected to show some second- tier lenders have failed.
The BSE Sensex lost 67.53 points or 0.36% and settled at 18,550.67. The index touched a high and a low of 19,619.65 and 18,513.22 respectively. 7 stocks advanced against 23 declining ones on the index (Provisional). The BSE Mid-cap index lost 0.18% while Small-cap index was up 0.01%. On the BSE Sectoral front, IT up 0.30% was the only gainers. On the flip side, Metal down 0.87%, PSU down 0.65%, Realty down 0.48%, FMCG down 0.38% and Auto down 0.36% were the top losers.
India vix,a gauge for markets short term expectation of volatility lost 0.10% at 19.95 from its previous close of 19.97 on Thursday.The S&P CNX Nifty lost 17.85 points or 0.32% to settle at 5,581.95. The index touched high and low of 5,631.70 and 5,562.75 respectively. 17 stocks advanced against 32 declining ones and 1 stock remained unchanged on the index. (Provisional)
Asian equity indices finished the day's trade on mixed note on the last trading day of the week as investors remained cautious following a weak lead from Wall Street. The Nikkei rose about 0.40 percent, buoyed by European
investors scooping up cyclical shares, but was capped by the top of the narrow range it has traded in for most of the week, with the majority of big players on the sidelines ahead of bank stress tests in Europe, while Hong Kong fell 0.30 percent in the trade on concerns that US lawmakers will not be able to agree a deficit-cutting budget that will help avoid a debt default by
