Market review: Diwali fails to lift stock mkt

Nov 17 2012, 16:59 IST
Comments 0
The BSE benchmark sensex continued to decline for the second consecutive week. (Reuters) The BSE benchmark sensex continued to decline for the second consecutive week. (Reuters)
SummaryThe BSE benchmark sensex continued to decline for the second consecutive week.

crore and Rs 50,308.36 crore.

Among the major indices the BSE-Auto fell by 2.97 per cent followed by the BSE- Metal 2.71 per cent, the BSE-Capital Goods 2.15 per cent, the BSE-FMCG 2.00 per cent and the BSE-IT 1.51 per cent.

However, the BSE-IPO rose by 7.47 per cent and BSE-Consumer Durable 1.49 per cent.

Foreign Insitutional Investors (FIIs) continued their buying spree by investing Rs 984.71 crores including the provisional figure of Novemver 16.

Major losers from the Sensex pack were Tata Motors (5.56 per cent), Tata Steel (5.25 per cent), ITC (4.83 per cent), Hero Motocorp (4.72 per cent), Hindalco Ind (3.88 per cent), Cipla (3.40 per cent), Icici Bank (3.09 per cent), Wipro (2.99 per cent), Sterlite Ind (2.99 per cent), Jindal Steel (2.98 per cent), TCS (2.98 per cent), Gail India (2.57 per cent) , Larsen (2.65 per cent), HDFC (2.44 per cent), SBI (2.26 per cent), Sun Pharma (2.22 per cent) and Tata Power (2.02 per cent).

However, Bharti Airtel rose by 9.37 per cent and Coal India 1.36 per cent.

Forex: Extending losses for the third straight week, the Indian rupee closed the truncated week down by 41 paise to two-month low of 55.16 against the Greenback on tepid domestic economic data amid sustained dollar demand from importers.

Sharp fall in local equities too added fuel to the fire.

The Forex market was closed on November 13 and 14 on account of 'Diwali' holidays.

Poor industrial production data, record-high trade deficit, sticky retail-level inflation and statement given by RBI Governor D Subbarao Friday regarding economic growth and high inflation dashed hopes of key rates cut by the apex bank in the next monetary policy meeting.

At the Interbank Foreign Exchange (Forex) market, the local unit resumed slightly better at 54.68 a dollar from last weekend's close of 54.75 and immediately touched a high of 54.61.

However, sluggish stock markets amid sustained dollar demand from importers, mainly oil refiners, and weak economic datas pulled the rupee down to a low of 55.2050 before ending the week at two-month low of 55.16, exhibiting a fall of 41 paise or 0.75 per cent.

In straight three week of losing string, the rupee has slumped by 160 paise or 2.99 per cent.

The Indian benchmark sensex, this week, plunged by 374.31 points, or 2.00 per cent, mainly affecting the rupee.

India's exports in October contracted 1.63

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...