RBI Monetary Policy Review is due for today. Market participants/ Investors have adopted yesterday a cautious approach in view of RBI's credit policy announcement scheduled for today (16th June, 2011). There is expectation that RBI will increase interest rates atleast 25 bps to tame inflation, which will make bears more active.
Also, Monthly Inflation Numbers going to announced on Thursday besides these 1st Installment of Advance tax numbers also due from June 15th which will declare further trend of markets.
Also, Monthly Inflation Numbers going to announced on Thursday besides these 1st Installment of Advance tax numbers also due from June 15th which will declare further trend of markets.
The BSE Sensex shed 176.42 points or 0.96% to settle at 18,132.24, its lowest closing level since 26 May 2011. The Sensex hit a high of 18,308.69 in early trade, almost unchanged from the previous day's close. The index fell 197.45 points at the day's low of 18,111.21 in late trade. The S&P CNX Nifty lost 53 points or 0.96% to 5447.50, its lowest closing level since 26 May 2011. The Nifty hit a low of 5,438.95 in intraday trade. The BSE Mid-Cap index fell 0.55% and the BSE Small-Cap index declined 0.59%. Both these indices outperformed the Sensex.
The market breadth was negative. On BSE, 1,645 shares declined while 1,209 shares advanced and a total of 102 shares remained unchanged. The breadth was positive earlier in the day. Among the 30-member Sensex pack, 25 stocks fell while the rest of them rose.
BSE clocked turnover of ` 2663 crore, lower than ` 4007.73 crore on Tuesday, 14 June 2011.
FOR TODAY: EU as well as US markets closed in DEEP RED, more than 1%. All Asian markets are trading at this time in DEEP RED (0.8-1.3%). SGX Nifty is trading at 5487.50 at 9 a.m., down 67.50 points indicating that our Nifty may also open with a big gap down nearly 5390-5400 area.
5377 and 5325 ARE SUPPORTS FOR TODAY. IF RBI'S RATE HIKE LIMITED TO 25 BPS, THEN WE MAY SEE A BOUNCE BACK UPTO 5441/5477 LEVEL.
FOR TODAY: EU as well as US markets closed in DEEP RED, more than 1%. All Asian markets are trading at this time in DEEP RED (0.8-1.3%). SGX Nifty is trading at 5487.50 at 9 a.m., down 67.50 points indicating that our Nifty may also open with a big gap down nearly 5390-5400 area.
5377 and 5325 ARE SUPPORTS FOR TODAY. IF RBI'S RATE HIKE LIMITED TO 25 BPS, THEN WE MAY SEE A BOUNCE BACK UPTO 5441/5477 LEVEL.
