Breadth negative

The volatility continued to be cut to a key benchmark indices intra-day losses in early afternoon trading. BSE Sensex fell 77.42 points, or 0.42%, close to 40 points from days low, and almost 70 points from days high. Extending the market was weak. Market sentiment was weak Asian stocks edge, which fell after last week’s disappointing U.S. employment data. Index heavyweight Reliance Industries (RIL) cut less volatile market. capital goods and consumer goods stocks fell.  NRI online trading account

The market edged lower in volatile early trade as Asian equities fell. Continued volatility as the key index reference weakened further after recovery from the lows of the day in morning trading. The market shift to fresh mid-morning trading intraday low. The market pared losses in early afternoon trade.

At 12:20 IST, the BSE Sensex was down 77.42 points or 0.42% at 18,299.06. The Sensex fell 5.20 points the day the large number of 18,371.28 in early trade. The index fell 118.06 points from day’s low level of 18,258.42 in mid-morning trade, its lowest level since May 30, 2011.

S & P CNX Nifty rose 26.80 points, or 0.49% to 5,489.95. Nifty hit a low 5,479.85, its lowest level since May 30, 2011.

The market breadth, indicating the health of the market was weak. On BSE, 1420 shares declined, while 993 stocks advanced. A total of 109 shares remained unchanged. PAN Card for NRI

Among the Sensex pack of 30 members, 25 stocks declined, while the rest of them have increased. Jaiprakash Associates, Bajaj Auto, Hindalco Industries and M & M fell 1.64% to 3.07%. Cipla, HDFC, TCS, HDFC Bank and Bharti Airtel rose 0.25% to 1.3%.

Index heavyweight Reliance Industries (RIL) fell 0.42% to Rs 932.20 in volatile trade. The stock reached a high of Rs 939.95 and Rs 928.95 day low. The stock extended loss of 1.65% on Friday sparked by comments from the chairman Mukesh Ambani at 37 Company: th AGM (annual general meeting) that RIL has to face the challenges arising from rising commodity prices and inputs and inflation trends. Ambani said RIL will be debt free in the current year ending March 2012 (FY 2012). Ambani said RIL has a strong economy and a healthy balance. NRI Share trading account

Ambani said the company BP-RIL jointly assess and address technical issues in accelerating the production of gas in the KG D6 block once the government approves alliance BP-Reliance. Ambani said RIL is best placed to capture the top quartile of margins in the refining of oil, due to their strategies of oil supply, low operating costs and produce cleaner fuels. As for the petrochemicals division, said Ambani, as the diversification of our portfolio of specialty products, we will in the next five years we have achieved over the last thirty years in terms of revenue in this segment.

As for RIL organized retail sector, Ambani said Reliance Retail will soon launch a cash and carry format is based on the principle of providing inclusive growth of all trading partners to detail. Given the business wireless broadband services Ambani said the company is currently conceptualizing and its products and services.

Reliance Infrastructure fell 0.41%. The company said after trading hours on Friday, June 3, 2011, that bought back 75,000 parts that date under the repurchase program. The company has so far bought back 19 shares lakh for a total amount of Rs 121.14 crore. R-Infra has Rs 1,000 crore earmarked for share buybacks. NRI Demat Account

FMCG stocks fell on profit taking. United Spirits, Hindustan Unilever, ITC, Marico and Dabur India fell between 0.24% to 1.13%.

Capital goods stocks also fell in a soft market. BEML, BHEL, Thermax, Larsen & Toubro and Punj Lloyd pays between 0.11% to 3.49%.

HDIL rose 1.98% after the company said that the conjunction of slum dwellers in Mumbai Kurla composed Premiere International Airport, as part of the project of rehabilitating slum began.

In the new macro, the service sector expanded at its slowest pace in 20 months in May 2011 as soaring prices and rising rates on new business growth eroded and reduced levels of optimism, a survey showed Friday . The seasonally adjusted Markit Business Activity Index HSBC, based on a survey of over 400 Indian companies, has slipped to 55 May 2011, from 59.2 in April 2011, which was the twenty-fifth month of successive 50 level that separates growth from contraction.

India’s industrial growth slowed slightly in May has slowed the pace of new orders, but the plant input and output prices continued to rise strongly. HSBC Markit purchasing managers ‘index’, based on a survey of about 500 companies, fell to 57.5 in May to 58.0 in April, the weight of a slower growth rate of new orders and the labor shortage , data showed last week.

Police quickly broke up a massive anti-graft led by India’s most famous yoga guru Baba Ramdex Sunday, risking more political headaches for the scandal-tainted government. Ramdev campaign, which plans to launch a political party before the 2014 general election, after allegations of bribery in the Commonwealth Games and a telecommunications scam may have cost the government $ 39 billion. Ramdev accused the police of brutality when he broke his hunger strike he and thousands of supporters have begun in New Delhi Saturday, June 4, 2011.

Asian stocks fell Monday, June 6, 2011, under pressure from the killing last week of disappointing economic data from the United States. The key reference rates in Singapore, Indonesia and Japan fell 0.42% to 1.18%. The stock markets of Hong Kong, Seoul, Shanghai and Taiwan were closed for holidays.

Trade in U.S. index futures pointed out that the Dow could fall 10 points at the opening bell on Monday, June 6, 2011.

Meanwhile, the finance minister of Greece, Friday, June 3, 2011, said that negotiations on financial aid to Greece has concluded positively and the country also pledged to accelerate privatization of its assets. In another development, the opposition won an election in Portugal on Sunday, said they would seek to quickly move the austerity demanded by the support plan, including the European Union and the International Monetary Fund.


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