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Market wrap
1. MARKET WRAP
18.05.2012
Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 I
BSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
2. The markets opened on a negative note. Later in the day saw minor
recovery which continued in the second part of the day with Nifty moving
into the green towards the end of the day, and closed regaining most of
its losses in green at the day high.
Support from better than expected results from SBI and minor green in
US futures space helped the market to recover. SBI’s Q4 jumped nearly 20
times. This helped Bank Nifty to recover 4% from the low made today
bringing value buying in banking stocks.
Rising inflation will tie the hands of RBI to further ease the interest rates
as it is expected to spiral up after the proposed fuel price hike, including
diesel and LPG price hike, which is expected after the ongoing Parliament
session.
Market Wrap
Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 I
BSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
3. On the sectoral front, there was tremendous buying in banking, FMCG,
PSU, oil and metal stocks while selling continued in auto, capital goods
and realty. Aviation stocks gained as oil companies cut jet fuel prices
recently.
SBI results played the game for the markets today. US futures gained
ahead of Facebook Inc debut and G-8 meeting. Europe is expected to
remain subdued to weak and the global markets will overlook them till
the new election results.
Market Wrap
Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 I
BSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
