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Finalaya daily wrap_12feb2013
Indian markets snapped their losing momentum despite disappointing IIP & retail inflation numbers and below estimates Dec Quarter result from heavyweights like SAIL & Oil India. Sensex gained 100 points to end the eight day losing streak. Oil & Gas was the top performing sectorial index driven primarily by above estimated Q3 numbers from ONGC. Dec IIP (Index of industrial production) shockingly contracted 0.6% Vs 0.1% contraction in Nov-2012 while retail inflation as measured by the consumer prices index (CPI) rose 10.79% in Jan-2013 Vs 10.56% in Dec-2012.
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Finalaya daily wrap_12feb2013
Indian markets snapped their losing momentum despite disappointing IIP & retail inflation numbers and below estimates Dec Quarter result from heavyweights like SAIL & Oil India. Sensex gained 100 points to end the eight day losing streak. Oil & Gas was the top performing sectorial index driven primarily by above estimated Q3 numbers from ONGC. Dec IIP (Index of industrial production) shockingly contracted 0.6% Vs 0.1% contraction in Nov-2012 while retail inflation as measured by the consumer prices index (CPI) rose 10.79% in Jan-2013 Vs 10.56% in Dec-2012.
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