India-Global Market Summary 07-05-12Are you confused with savings and investment? Attend ourwebinar session conducted on every Sunday from 11:00 a.m to1:00 p.m and clarify all your doubts in finance planning. Visitwww.ifmaonline.com and enroll yourself to take up training.• The main index recovered from intraday low in the last hour of trade as the announcement from Finance Minister about the GAAR rebounded market sentiment. The statement says that GAAR rules are deferred for one year. i.e. It would be implemented from the financial year 2014.• Sensex was up 81.63 points to 16,912.71 points and Nifty soared 27.30 points to 5,114.15 points on market close• Sensex touched an intraday low of 16,514 points and an intraday high of 16,944.13 points on BSE.
• On the sectorial front, capital goods edged higher by 3%, while Power, Metal and auto indices were up more than 1%. Banking, Realty and PSU stock indices were ended on positive terrain• FMCG, Oil & Gas, technology and Healthcare indices were ended on negative terrain.• Titan industries were 3.51%after finance minister has withdrawn levy on all branded and non-branded jewellery.• Airline stocks such as Kingfisher Airlines, Jet Airways and Spice-Jet ended higher by 7-12% each after the FM statement on deferment of GAAR rules by one year.• The shares of Housing Development Finance Corporation increased by 1% to Rs.663 per share after the company registered 17% increase in net profit at Rs.412 cr in Q4
• Andhra bank shares were up surged 3.73% after the bank reported reported 8.6% jump in fourth quarter net profit at Rs.339 crore over a year• IRB Infrastructure hit 3 years low by shedding more than 12% after the promoter of the company has been dragged for investigation for RTI murder activist Satish Shetty murder case• The shares of Oil Marketing companies edged higher by 2-5% after the crude futures price tumbled in the overseas market• UCO bank has reported that its net profit has surged 12 percent to Rs.2.53 billion during the quarter ended March 31, 2012 from Rs.2.26 billion in the corresponding period of the last financial year. Stock up 1.31%• Mid cap and small cap indices were up 0.5% and 0.3% each on BSE
Global News• The weak US job report and unclear political situation in European region fuelled fears over the double dip recession during the Asian trading hours, which led the stocks to end on negative terrain• Hangseng and Nikkei Average each were shed discreetly by 2% on Monday trade• US job report showed that payrolls climbed up by 115,000 in April against the expectation of 163,000 addition during the period• In France, Nicolas Sarkozy was defeated by Francois Hollande, raising questions about the France’s own commitment to austerity measures. The poll result from Greece suggested two major parties that backed the nation’s fiscal bailout and austerity package had fared poorly, raising the possibility of a change in government and rejection of the financial aid needed to meet Greece’s borrowing obligations.
Crude futures tumbled 58 cents to $97.91 per barrel during the last trade as weak trade in equity market drove back the crucial commodity future contract in New York Gold futures was down $6 to $1 640 an ounce during the last trade in New York Mercantile Exchange due to strong dollar ----------------------------------------------Free Internship Programme for the students with a backgroundof Finance and commerce, For more details, contact 044-32983431/ email@example.com. Visit us atwww.ifmaonline.com, To Keep you updated with daily marketnews, visit www.indiafinancebazaar.comFor students, we provide tailor made financial training upon thecollege request. Contact firstname.lastname@example.org forfurther details or call us at 044-32973431