market wrap up
27 Mei 2011
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Indian markets ends down more than 1%, Nifty slips below 5500; down 58 pts. SBI Q4FY11 net profit down 32% at Rs. 1867 Cr., NII up 38.2% to Rs. 6721.4 Cr. Global equity markets ends down on Euro debt worries & weaker economic data. Indian equity market ended down more than 1% ahead of F&O expiry last week, though, last day short covering helped Nifty to cut some losses. Nifty sliced 58 pts to settle below 5500 at 5486 while Sensex sliced 205 pts to end at 18326. Nifty is likely to consolidate in arrange of 5380 – 5600 in coming week as it lacks a trigger in coming week. Bank Nifty future plunged more than 3% shredding 367 pts to end at 10666. In frontline stocks, L&T, Reliance Power, Bajaj Auto gained 3-4% on better Q4 results. SBI Q4FY11 net profit came below expectations as it dipped 32% to Rs. 1867 Cr. vs. Rs. 2742 Cr. due to higher provisioning to Rs. 2349 Cr. vs. Rs. 1378 Cr. Though, its NII was up 38% to Rs. 6721.4 Cr. vs. Rs. 4841.9 Cr. Infrastructure space bellwether L&T's Q4 results came better than expected at Rs. 1686 Cr., up 23% y/y while its net sales advanced 13% to R15213 Cr. y/y. Food inflation slipped to 7.47% vs. 7.7% w/w due to cheaper pulses and vegetables & Fuel price inflation eased to 12.11% vs. 12.25% w/w. Global equity markets ended down with major indices of U.S and Europe in red as Euro zone debt fears haunts inventors concerning the Greek debt default, Spain election next week and series on weaker economic data. DJIA ended down 83 pts as U.S industrial production was flat while Philly fed manufacturing came down at 3.9 vs. 20.2 and existing home sales down at 5.05m vs. 5.21m. European markets ended down on Greek debt default as Euro slides down. DAX was down 135 pts at 7267, CAC was down 28 pts while FTSE was marginally up 22 pts at 5949.
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Indian markets ends down more than 1%, Nifty slips below 5500; down 58 pts.
SBI Q4FY11 net profit down 32% at Rs. 1867 Cr., NII up 38.2% to Rs. 6721.4 Cr.
Global equity markets ends down on Euro debt worries & weaker economic data.
Indian equity market ended down more than 1% ahead of F&O expiry last week,
though, last day short covering helped Nifty to cut some losses. Nifty sliced 58 pts to
settle below 5500 at 5486 while Sensex sliced 205 pts to end at 18326. Nifty is likely to
consolidate in arrange of 5380 – 5600 in coming week as it lacks a trigger in coming
week. Bank Nifty future plunged more than 3% shredding 367 pts to end at 10666.
In frontline stocks, L&T, Reliance Power, Bajaj Auto gained 3-4% on better Q4 results.
SBI Q4FY11 net profit came below expectations as it dipped 32% to Rs. 1867 Cr. vs.
Rs. 2742 Cr. due to higher provisioning to Rs. 2349 Cr. vs. Rs. 1378 Cr. Though, its NII
was up 38% to Rs. 6721.4 Cr. vs. Rs. 4841.9 Cr. Infrastructure space bellwether L&T's
Q4 results came better than expected at Rs. 1686 Cr., up 23% y/y while its net sales
advanced 13% to R15213 Cr. y/y. Food inflation slipped to 7.47% vs. 7.7% w/w due to
cheaper pulses and vegetables & Fuel price inflation eased to 12.11% vs. 12.25% w/w.
Global equity markets ended down with major indices of U.S and Europe in red as
Euro zone debt fears haunts inventors concerning the Greek debt default, Spain
election next week and series on weaker economic data. DJIA ended down 83 pts as
U.S industrial production was flat while Philly fed manufacturing came down at 3.9 vs.
20.2 and existing home sales down at 5.05m vs. 5.21m. European markets ended down
on Greek debt default as Euro slides down. DAX was down 135 pts at 7267, CAC was
down 28 pts while FTSE was marginally up 22 pts at 5949.
GET THE BEST TRADING CALLS FOR INTRADAY TRADING IN EQUITY AND NIFTY
CALL THE EXPERTS AT +9990323428,9910664620
OUR SPONSERS
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