India-Global Market Summary 23-04-12Are 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.• Sensex tanked 277.16 points to 17,096.68 points and Nifty watered 90.25 points to 5,200.60 points on market close• Continuous selling Realty, Power, Metal and Banking stocks have dragged down the market. Additionally, weak global cues also strengthened weak market sentiment.• On BSE, the indices such as Realty, Technology, Metal, Capital Goods, Banking and Power were declined 2-3%.• All the indices were ended on red note on Monday trade
• In the technology space, Infosys stocks dipped 4% on reports that the company is under scrutiny from the US Department of Homeland Security (DHS) for likely errors in employer eligibility documents of its staff working in the United States.• TCS shed 3% in ahead of Q4 results. Investors seem to be pessimistic about TCS results.• In the Realty corner, DLF plunged 4% to Rs.197 after the announcement that the company would be replaced by Dr.Reddy in Sensex due to its poor performance.• SBI stocks were nosedived by over 3% after the bank announcement that the bank would reduce lending rates on expensive loans.
• Paper shares such as West Coast Paper Mills, Andhra Pradesh Paper Mills, Ballarpur Industries and Tamil Nadu Newsprint and Papers were rallied 4-20% due to huge volumes.• The shares of Sun pharma, ONGC, Reliance, NTPC and HDFC were rallied up to 1% in the weak Mumbai market.• Mid cap and Small indices were down 1.67% and 1.57% on the Bombay Stock Exchange.• The overall market sentiment was negative, with shares declined stood at 2037 and share advanced was at 1,223 on BSE.
Global News• On the global market, the financial stock market sentiment was too weak due to dismal Chinese factory output data.• China’s Industrial sector output grew to 49.1 in April from 48.3 in March. However, the reading lies still at the contraction side. The reading below 50 indicates contraction and above 50 indicates expansion.• Asian markets were ended on red note, with Hangseng slide more than 1% and Nikkei shed 0.20%.• European shares were trading lower as investors shifted safe haven Euro Zone bonds• The yield of Italy, Spanish, German, French and Dutch bonds rallied after a weekend that saw Socialist challenger Francois Hollande top the first-round of Frances presidential election and the collapse of budget talks in the Netherlands
• The political issues in Euro zone and weak data release from one of the world fastest developing economy, china were weakened market sentiment.• Crude futures tumbled 84 cents to $103.04 per barrel during the previous trade in the New York Mercantile Exchange Trade following the weak trade in equity market• Gold futures plunged $12 to $1,631 an ounce during the previous trade in New York due to strong dollar• Rupee depreciated steeply by 44 paise to Rs.52.51 per dollar on market close as import payment by oil importers increased demand for dollar in overseas
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