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Sunday, July 01, 2012
Markets end with good gains for 4th week
The Indian markets stood positive for the fourth consecutive week. The Sensex rose 2.69% and the Nifty ended up 2.58% for the week ended June 29, 2012. Major Headlines: India's fiscal deficit for April-May at $25.3 bn Indian equities upgraded to 'equalweight': Morgan Stanley Non-urea fertiliser demand can slide by 28% Primary dealers to stop short-term debt issues from July 1: RBI RBI takes steps to boost economy by raising ECB limits e-Payment compulsory for PSUs from July 1: Fin Ministry
Manufacturing and services sector data for June 2012 in focus
Data on India's manufacturing and services sector for June 2012, the progress of the monsoon rains, further news from the European Union summit, if any, and Chinese economic data will dictate near term trend on the bourses. Auto and cement stocks will be in focus as companies from these two sectors start unveiling monthly sales volume data from Sunday, 1 July 2012. On the macro front, the manufacturing Managers' Index (PMI) for June 2012 will be out by 2 July 2012. The HSBC manufacturing Purchasing Managers' Index (PMI), compiled by Markit, slipped marginally to 54.8 in May from 54.9 in April. It has stayed above the 50 mark that separates growth from contraction for a little over three years now. The services purchasing managers' index for June 2012 is also expected to be out next week. The services sector grew at its fastest pace in three months during May. HSBC's services purchasing managers' index, compiled by Markit, rose almost two points to 54.7 in May from 52.8 in the previous month.
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