NIFTY 5 Days Up
Indian Equity Market
Bank Nifty Future
Indian markets end the week on flat basis, Nifty up 13 pts & Sensex up 23 pts.
June IIP dips to 7.1% vs. 11.3% in May while Monsoon still below 26% normal.
Global markets hit worse, DJIA down 3.3%, S&P down 3.8% & NASDAQ lost 5%.
Indian equity markets ended this week flat but on positive basis. Nifty ended above
5450 & settled at 5452.10, up 13 pts while Sensex ended at 18167, up 23 pts.
Benchmark Nifty consolidated between 5490 – 5390. Nifty opened the week & ended
the week on positive basis while it lost it gains amid week on weak global cues & sell off
pressure from western markets. Nifty failed to cross the psychological level of 5500.
In frontline stocks, Tata motors surged 13.4% & Cairn India gained 4.2%.
In IT space, Infosys, Wipro & TCS fell almost 2% - 3% on weak western markets data.
June Industrial production index fell down to 7.1% vs. 11.3% in May. Monsoon rains
below 26% normal past week while Food price index is up at 11.40% vs. 9.53% and
Fuel price index eased down at 12.66% vs. 14.26%. In earnings, Tata Motors posted
strong results beating street expectations, Net profit up at Rs. 1988.73 Cr. vs. loss of
Rs. 328 Cr. & sales volume increased b