India Autos

India Autos

India Strategy - March 3 2012

India Strategy - March 3 2012

GSPL Ltd

GSPL Ltd

Ranbaxy- Strategy?

Ranbaxy- Strategy?

Market slips for 2nd straight week

The market fell for the second consecutive week as data showing slowdown in GDP growth in Q3 December 2011 spooked investors. Macroeconomic worries arising from high oil prices also weighed on the domestic bourses.

The Sensex fell 286.77 points or 1.60% to 17,636.80 in the week ended 2 March 2012. The S&P CNX Nifty fell 69.95 points or 1.29% to 5,359.35.

The BSE Mid-Cap index rose 0.72%. The BSE Small-Cap index fell 0.43%. Both these indices outperformed the Sensex.

Bank stocks edge higher in volatile market

Key benchmark indices eked out small gains in a volatile trading session. The barometer index, BSE Sensex, rose 52.83 points or 0.3%, off close to 95 points from the day's high and up about 130 points from the day's low. Index heavyweight Reliance Industries (RIL) edged higher in volatile trade. Pharma major Sun Pharmaceutical Industries hit record high. Bank stocks rose on bargain hunting after recent slide.

The barometer index has lost 115.88 points or 0.65% in March 2012 so far (till 2 March 2012). The Sensex had jumped 559.13 points or 3.25% in February 2012. The index has surged 2,181.88 points or 14.11% in calendar 2012 so far (till 2 March 2012) on the back of heavy inflow from foreign funds. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,500.94 points or 16.52%. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,174.34 points or 10.97%.

Volatility may prevail on bourses

The market is expected to remain volatile next week due to uncertainties over elections results in five states due on Tuesday, 6 March 2012. The stock market remains closed on Thursday, 8 March 2012, on account of Holi.

The Bombay Stock Exchange (BSE) and the National Stock Exchange are holding a special 1-1/2 hour trading session on Saturday, 3 March 2012, as BSE is testing its Disaster Recover Site (DR). Trading will begin at 11:15 IST and conclude at 12:45 IST on that day.

Polling for assembly elections in five states concludes on Saturday, 3 March 2012. The counting of the votes takes place on 6 March 2012, with the results due on the same day.