India’s monthly Inflation data for May 2011 expected to be announced on Tuesday, the 14th June (today) which will be in focus. Data may provide some cues on the likely monetary policy stance of the Central Bank in its mid-quarter policy review on June 16, 2011. Bloomberg consensus estimates suggest 8.7%, much above the Reserve Bank of India's (RBI) perceived comfort level of about 5%. The RBI is seen raising its key-lending rate by 25 basis points at its mid-quarter monetary policy review on 16 June 2011 to tame inflation.
The BSE Sensex lost 2.51 points or 0.01% to settle at 18,266.03, its lowest level since 30 May 2011. The Sensex rose 44.67 points at the day's high of 18,313.21 in afternoon trade. The index fell 147.78 points at the day's low of 18,120.76 in morning trade, its lowest level since 27 May 2011. The S&P CNX Nifty was down 3 points or 0.05% to 5482.80, its lowest level since 30 May 2011. The Nifty hit low of 5,436.95 in intraday trade, its lowest level since 27 May 2011. The BSE Mid-Cap index rose 0.28% and the BSE Small-Cap index gained 0.3%. Both these indices outperformed the Sensex.
The market breadth turned positive from negative in late trade. On BSE 1,437 shares rose while 1,389 shares declined and a total of 115 shares were unchanged. Among the 30-member Sensex pack, 17 stocks rose while the rest of them declined.
BSE clocked turnover of ` 2472 crore, lower than ` 2638.60 crore on Friday, 10 June 2011.
FOR TODAY: EU as well as US markets were closed flat but on positive bias. Asian markets are trading today morning mostly in GREEN. SGX Nifty is trading presently (9 am) at 5505.50, up 3.50.
NIFTY WILL OPEN FLAT TO POSITIVE NOTE. WATCH 5511/5541 ON THE UPSIDE WHEREAS 5470/5463 ON THE DOWNSIDE.
NIFTY WILL OPEN FLAT TO POSITIVE NOTE. WATCH 5511/5541 ON THE UPSIDE WHEREAS 5470/5463 ON THE DOWNSIDE.
