1. Market summary 21-05-2012
• Market rose on higher European stocks. The market breadth was strong. Sensex up by 0.19%
to 16183.26 and Nifty up by 0.3% to 4906.05. Among the 30-share Sensex pack, 16 gained
while the rest of them declined.
• Reliance Industries was firm. Auto major Tata Motors rose on bargain hunting after recent
steep slide. Tata Steel rose, with the stock bouncing back after an intraday slide, on strong
financial performance on sequential basis in fourth quarter ended March 2012. Tata Power
Company jumped nearly 4% ahead of its FY 2012 results tomorrow, 22 May 2012. Two
capital goods pivotals viz L&T and Bhel gained on announcing new order wins. SBI gained
over 3%. IT pivotals edged lower on euro-zone debt worries. Coal India rose 2.41% after net
profit jumped 71.7% in the year ended March 2012.
• State-run oil marketing firms gained after the anti-trust regulator Competition Commission of
India (CCI) reportedly cleared these firms of charges that they formed a cartel and fixed the
price of bio-diesel, saying that they have not violated provisions of the competition law.Realty
stocks rose after realty major Unitech issued positive future outlook at the time of announcing
results. Shares of aviation companies gained for second straight day as oil companies cut jet
fuel prices recently, the third straight reduction in rates since April 2012. Reliance Capital
jumped 7.85%.
2. Market summary 21-05-2012
• Finance minister Pranab Mukherjee will move an amended Banking Laws
(Amendment) Bill in Parliament today, 21 May 2012. The Bill is likely to cap
shareholders' voting rights in private banks at 26% and 10% in case of nationalized
banks irrespective of their total holding. The Bill will also pave the way for issuing
new bank licences to private sector entities
• Gold price rose on firm global trend. Bargain buying and weak Indian rupee also
supported the price
• Indian rupee trades flat tracking a mild recovery in risk assets after G8 leaders over
the weekend backed keeping Greece in the euro zone and vowed to take all steps
needed to combat financial turmoil.
3. Market summary 21-05-2012
• European markets traded positive on speculation European leaders will come up
with a strategy to ease the region's debt crisis when they meet on Wednesday, 23
May 2012.
• Most Asian stocks rose after G8 leaders over the weekend backed keeping Greece
in the euro zone and vowed to take all steps necessary to combat financial turmoil
while revitalizing a global economy increasingly threatened by Europe's debt crisis
• German Finance Minister Wolfgang Schaeuble will discuss the 17-nation currency
with his French counterpart, Pierre Moscovici today before European Union
leaders meet for a summit in Brussels on Wednesday, 23 May 2012. The G8 world
leaders on Saturday, 19 May 2012, affirmed they want Greece to remain in the euro
zone.
• Chinese Premier stressed the importance of adjusting policies decisively to prevent
a rapid economic slowdown, suggesting that Beijing is leaving the door open for
more aggressive monetary and fiscal easing measures. China will put more
emphasis on ensuring steady growth while maintaining a proactive fiscal policy and
a prudent monetary policy
