India-Global Market Summary 23-03-12Are you confused with savings and investment? Attend our webinarsession conducted on every Sunday from 11:00 a.m to 1:00 p.m andclarify all your doubts in finance planning. Visit www.ifmaonline.comand enroll yourself to take up training.• Indian market closed the week on positive note after witnessing a sharp fall in yesterday trade, supported by Banking and IT shares. The thirty share index up surged 165.27 points to 17,361.74 points and Nifty advanced 49.75 points to 5,278.20 points on market close.• The demand for IT shares boosted on hopes of seeing better Q4 results. The sentiment was lifted by the Accenture Plc, which has posted higher than expected year end result.• Banking shares were revived after the deputy Governor of RBI told that the monetary stance will start to reverse from next fiscal year
• IT shares such as Infosys, TCS and oracle Fin were up more than 1%. In the banking space, SBI and Axis bank were up marginally, Bank of Baroda and ICICI banks soared more than 1%.• Other than Metal and Consumer durable indices, all the indices were ended on green note. Realty, Banking, IT, power and FMCG were closed with a minimum one percent gain.• The notable gainers of the day are Hero Motocorp, Bharti Airtel, Sun Pharma, GAIL and HDFC bank. The scrips were surged in the range 2.25% to 4.08%• The big losers of the day are Jindal steel, ONGC, Coal India, Maruti Suzuki and Hindalco. Stocks were declined more than 1% each• Reliance Industries were up more than 1% after the Government approved $1.5 billion investment plan to produce over 10 mmscmd of gas per day in KG-D6 block.• SKS microfinance has informed that it has completed the securitization ofRs.321 crore with four banks. Scrip up 0.78%
• ONGC shares were dragged down by the news release that an increase in amount of cess payment on crude oil will hurt the net profit of State run Oil and Natural Gas Corporation Limited in FY13• Oil Minister, Jaipal Reddy told that India will not disrupt the crude trade with Iran as well as will ensure the trade to continue without breaching any International laws.• Maruti Suzuki slipped down after the Union at manesar plant demand wage revision• Mid cap and small cap indices were ended with a marginal gain of 0.61% and 0.40% respectively.• Of the total shares traded on BSE, 1614 shares were advanced, 1645 shares were declined and 169 shares were remained unchanged.
• Currency market was remained closed due to Gudi Padwa festival.• In overseas, Asian markets were ended almost on lower note, with Hang seng and Nikkei were tanked more than 1% on concerns over the shrinking growth of chinese economy.• European shares reflected the Asian market decline during the opening trade• Dollar slumped against the greenback of six currencies even though the financial stocks tumbled in the Asian market. Euro demand weighed high in overseas.• Weak dollar spurred buying interest of Gold futures. The commodity was seen at $1,649 with a gain of $7 an ounce during the previous trade• Crude futures soared 30 cents to $105.65 per barrel during the previous trade on the New York Mercantile Exchange
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