Saturday, September 17, 2011

Indian Stock Markets Weekly Review

SENSEX and NIFTY traded choppy with high volatility during last week (16th Sep 2011) trade and has closed the week on a flat note on weekly basis.

Nifty started the week with a gap down action below 5000 levels but has managed to hold on to the 4900 support despite all the volatility. Nifty bounced back during the mid of the week and tested the short term resistance area of 5150 on Friday's trade. 

The Sensex gained 66.85 points or 0.4% for the week to settle at 16933.83 whereas the Nifty ended up 24.80 points or 0.5% at 5084.25 levels.

Tata Motors, Infosys, NTPC, ONGC and Hindustan unilever were the major gainers during last week where as L&T, BHEL, Tata Steel and Bharti Airtel were the major draggers during last week trade.

RBI in its monetary policy review hiked repo rate by 25 bps (8.25%) leading to reverse repo increase by 25 bps (7.25%). CRR remains unchanged at 6%.

IIP nos for the month of July came in at 3.3% (consensus: 6.2%) v/s 8.3% (in month of June).

Inflation for the month of August 2011 came in at 9.78% v/s 9.2% in the month of July.
India's food inflation for the week ended September 3 declined to 9.47% on a week-on-week basis from 9.55% for the week ended August 27 while the fuel price index increased to 13.01% (last week: 12.55%).

Nymex crude increased 2.5% on a weekly basis to close at $89.43 /barrel (on Thursday).

The week witnessed weak economic data from the US. The U.S. poverty rate rose to the highest level in almost two decades. Data released by the Census Bureau showed the proportion of people living in poverty climbed to 15.1 percent last year from 14.3 percent in 2009, and median household income declined by 2.3 percent

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