Sensex, Nifty For Nearly Two Weeks In The Growth Of Industrial Production In July Low

The benchmark index fell to its lowest level in almost two weeks after data showed the growth of industrial production Sad 3.3% in July 2011. BSE Sensex fell 393.69 points, or 2.33%, close to 5 points for the day and off a low of about 200 points higher than today. In addition, the weak growth in industrial production, a setback in Asian equities triggered by renewed fears of European sovereign debt crisis also weighed in Indian securities today, September 12, 2011, 50 units, S & P Nifty below the level Psychological 5,000 CNX NRI Pan Card.

Index heavyweight Reliance Industries (RIL) has weakened the market volatility. Stocks of real estate interest rates fell slightly sensitive to the concerns that interest rates increased demand for Dent residential and commercial properties. Populations of construction declined slightly in a soft market. State the oil marketing companies (PSU WTO) acquired on the shores of the oil services providers fell oil prices fell. The size of the market was weak. The 13 sectoral indices on BSE were in red.

The market opened weak marking renewed fears of European sovereign debt crisis sent Asian stocks plummeted. The market trimmed losses in trading morning, after fresh intraday lows. The market collapsed in mid-morning trade after the latest data showed growth of 3.3% sad industrial production in July 2011. The data came on the market around 11:00 IST.

Investors will be looking deep data in the second quarter in September 2011 the payment of advance tax due Thursday, September 15, 2011, which could give clues Q2 September 2011 results NRI demat account.

At 11:20 IST the BSE Sensex was down 393.69 points or 2.33% to 16,473.28. The index fell 198.72 points to 16,668.25 day high in early trading. The index fell 397.83 points to 16,469.14 few days in mid-morning trade, its lowest level since August 30, 2011.

S & P CNX Nifty fell 116.25 points or 2.3% to 4943.20. The Nifty hit a low of 4,931.25 in intraday trading, its lowest level since August 30, 2011.

Extension of the market, shows the general health of the market was weak. BSE, 1603 shares declined, and 656 shares rose. A total of 62 shares remained unchanged.

Among the 30 Sensex stake, 27 declined and only three have increased. Consumer goods giant Hindustan Unilever rose 3.15% to defense purchases. Jindal Steel & Power, Jaiprakash Associates and Hindalco Industries, pays between 3.99% to 5.13%.

Manufacturer of India’s largest selling trucks Tata Motors shed 4.96%, extending losses of 3.21% on Friday. The company reported after market hours, Friday, September 9, 2011, as managing director and group chief executive, Carl-Peter Forster, has submitted his resignation Friday, September 9, 2011, with immediate effect. Forster’s resignation, according to a statement from Tata Motors, was inevitable due to personal circumstances. Forster, who previously directed the operations of General Motors Co. ‘s in Europe, he joined Tata Motors in February 2010. Its mandate includes Tata Motors managing their global operations, including Jaguar and Land Rover (JLR), which was acquired in June 2008.

I deeply regret that my personal situation is difficult for me to continue to work in the difficult management of the increasingly global group of Tata Motors with its main operations in India and the United Kingdom and increasingly in other markets abroad Forster said in a statement. Forster, however, remain on the board for a short period as non-executive member. Prakash Telang, Managing Director of Operations in India and Ralf Speth, CEO of Jaguar and Land Rover, will represent their respective operations in the set.

Index heavyweight Reliance Industries (RIL) shed 1.73% to 810.90 rupees. The stock was volatile. Certified high success Rs 822.80 and low of Rs 806 so far during the day. The company denied cost inflation in its D6 gas field in Krishna-Godavari (KG) basin. RIL said that audits of three independent experts found that the costs in the area of ​​KG-D6 are not inflated and the company had joined the PSC (Production Sharing Contract). With regard to the Comptroller and Auditor General of India (CAG) observation that the operator has an incentive to keep costs high, independent auditor Ernst & Young (E & Y), said any increase in capital spending is detrimental to the contractor and the government. Consultant Daniel Johnston noted that the assessment activities that RIL has in relation to the various discoveries in the KG-D6 block are in line with the oil of good practices (GIPIP).

RIL has said that the independent reports by E & Y, the IPA and Daniel Johnston & Co., Inc., a wholly RIL to strengthen its response CAG department. Independent of the nature of the investigations conducted by the consultants of international repute, has been recognized by Ril commendably bringing the flow of India’s first deep water oil and gas production in record time, RIL said. The fact that the high energy, BP has entered into a strategic partnership with RIL in this field, but also vindicates the position of RIL, RIL said. The newly formed partnership with BP, RIL is confident that the full potential and KG-D6 and the other blocks, bringing greater benefits from the nation, RIL said.

RIL, issued a statement after trading hours on Friday 9 In September 2011, the CAG said that the final report to Parliament on Thursday 8 In September 2011, the RIL is initially estimated capital expenditures for the D -1 and D-3 gas discovery was $ 2.4 billion, later revised to $ 8.8 billion. CAG report also said that RIL has started to implement the revised capital expenditure plans, before they were approved by the government. The report also found that RIL did not give a little ‘less of a priority for the KG D6 block, which the government would be able to give other companies the further studies.

ONGC rose 0.63%. The company earlier this month, has presented a booklet of about Rs 11,000 crore-Monitoring public offering with the Securities and Exchange Board of India.

State oil marketing companies (OMC PSU) was the price of crude oil fell. HPCL, BPCL and Indian Oil Corporation rose between 0.7% and 1.73%. A reduction in oil prices can be reduced to below-backs on state oil marketing companies (OMC PSUs) for domestic sales of diesel, LPG and kerosene at controlled prices. The government has already exempted from the price of gasoline.

Offshore oil companies fell on lower crude prices. Aban Offshore, Great Offshore, Jindal Drilling, Dolphin Offshore paid by between 1.03% to 3.29%.

With crude oil futures slid for a third day in New York as investors bet the debt crisis of Europe could damage economic growth, demand for products of quenching. Crude for October delivery fell to $ 1.63 a barrel, or 1.9% to 85.61 dollars a barrel.

Stocks of real estate interest rates fell slightly sensitive to the concerns that interest rates increased demand for Dent residential and commercial properties. Purchase of two residential and commercial buildings are largely driven by finance. DLF, HDIL, Indiabulls Real, Phoenix Mills and Unitech fell 0.2% to 4.01%.

Construction stocks declined slightly in a soft market. Hindustan Construction Company, Nagarjuna construction company, Larsen & Toubro, Jaiprakash Associates and Patel Engineering declined 2.07% to 4.16%.

Foreign institutional investors (IIE) has sold shares worth Rs 427.67 crore, Friday, September 9, 2011, according to preliminary data of the award.

Industrial production in India increased by 3.3% in July 2011 from a year earlier, well below market expectations, hurt by a sharp drop in capital goods output. Reading is significantly lower than the growth of industrial production by 8.8% in June 2011, government data showed Monday, September 12, 2011. Capital goods production in July fell 15.2% from the previous year, compared with an increase of 38% in June Industrial production, which has a weight of 75.5% in the index, rose 2.3% year on year in July, compared with an increase of 10% in June Mining output rose 2.8%, compared to a revised decrease of 1.1% in June

In the long-term rainfall in the second half of the season helped to alleviate concerns that the monsoon this year could fall below their long-term average, after a brief pause in July, when the country usually receives one third of monsoon rains. Monsoon was 3% above average until September 7, 2011, as per the latest information on the Indian Meteorological Department (IMD). A large part of the country were the average of the average rainfall this year, but the season has been characterized as well as cradle and periods of torrential rains in some parts of western and eastern.

While rainfall in general plays a key role in determining agricultural production, the timing and distribution of rainfall are also important to ensure a good harvest. The unusual shape of rainfall this year could delay the harvest, which affects the yields of major crops grown in the summer as rice, oilseeds, sugarcane and cotton. Acreage of rice from September 2, 2011 increased 12% last year to 35.75 million hectares.

A good monsoon season can often be improved farm incomes and the impact on the wider economy by increasing consumption and a reduced price of food. But food prices are not necessarily, if the delays and excessive rains in some areas, affecting hundreds.

Annual inflation in food articles group declined to 9.55% for the week ended August 27, 2011, from 10.05% the previous week, the latest data show. Was 14.76% for the same period last year. However, inflation in the major group rose to 13.34% in the week in review articles of 12.93% for the week ended August 20, 2011. Was 15.24% in the period last year. Inflation in fuel and electricity group was 12.55% in the week ended August 27, unchanged from the previous week, the latest data show. Was 12.61% in the corresponding week last year.

Reserve Bank of India (RBI) said that the change in the anti-inflation monetary policy is motivated by evidence of a sustainable reduction in inflation. Data on consumer price inflation, 14 September 2011 to August 2011 to provide clues about likely central bank along the lines of its mid-quarter monetary policy review September 16, 2011. Reserve Bank of India increased its key rate 11 times over the past 18 months to tame high inflation.

Inflation based on wholesale prices is expected to be 9.6% in August 2011, more than a reading of 9.22% in July 2011, according to the median estimate of 13 economists surveyed by Capital Market. Data for Wednesday, September 14, 2011. Eleven of the twelve economists surveyed by Capital Markets expect a 25 basis points (bps) increase in repo rate is the main short-term political interests of the Reserve Bank of India in its policy review on 16 mid-term September 2011.

Moody’s Investors Services confirmed its rating of Baa3 foreign currency debt rating of India and the Ba1 local currency debt annual credit analysis published last week. Votes for the company given the positive outlook for bonds denominated in Indian rupees, saying it is considering a rating of Baa3 uniform for all bonds if India is to improve the fiscal position and its commitment to strengthen the market inside. Currency debt outlook is stable.

The report was optimistic about India’s ability to overcome an economic crisis. While not immune to a slowdown in international growth, the strength of domestic demand and economic diversity provides protection against a downturn in the exposed sectors worldwide, the report said. India noted that the foreign exchange reserves equivalent to four times its external debt.

A debt to GDP ratio of 71% is a concern that the interest on this debt eats 25% of revenues from India every year. But Moody expects continued growth of GDP and further fiscal consolidation efforts will continue to reduce the public debt / GDP, the report said.

India, exports of goods grew by 44.2% in August 2011 over the previous year, for a total of $ 24.3 billion, a sharp slowdown from the previous pace, Commerce said Rahul Khullar Friday, September 9, 2011. Imports account for just over a month increased by 41.8% year on year and 38.4 billion U.S. dollars, which increased the trade deficit of $ 14.1 billion from $ 11.1 billion in July.

Asian stocks fell Monday, September 12, 2011, with some successful actions of several years of low, after renewed fears of a Europe of sovereign debt crisis led to the sale of U.S. brand and European markets late last week. The key benchmark indices in Hong Kong, Indonesia, Japan and Singapore fell 1.84% to 3.38%. South Korea, Taiwan and mainland China markets were closed for holidays.

China’s trade surplus fell sharply in August, exports pulled back from a record and imports surged, giving the second largest economy is feeling the effects of weaker global growth, while Domestic demand remains robust.

The steep losses in Asian shares Monday, 12 In September 2011, came after the Dow Jones Industrial Average and S & P 500 fell by 2.7% each on Friday, September 9 and the Stoxx Europe 600 index was down 2 6%. Among the news on Friday, hitting the shares of Western markets was the resignation of the European Central Bank (ECB) Executive Board member Juergen Stark, a supporter of higher interest rates, whose origin was seen signs of a political dispute at the ECB.

The Group of Seven finance chiefs on Friday, promised to make co-ordinated by the global economy, but slow offered some specific characteristics, and resigned from the emphasis on debt crisis.

Federal Open Market Committee (FOMC) is scheduled to conduct a policy review of US two-day yields of 20 and 21 September 2011.

The U.S. index futures said the Dow could fall 108 points on opening bell Monday, September 12, 2011.


Comments are closed.