Research Reports

Markets end lower

Indian markets fell on Thursday, after rising inflation trimmed rate-cut hopes. Inflation rose to 7.55% for May as against 7.23% in previous month and economists say, even core inflation increased to 4.86% versus 4.77% month-on-month.

Statistics

While the BSE Sensex finally closed 202.63pts or 1.2% lower at 16,677.88, the Nifty lost 66.7pts or 1.3% to close at 5,054.75. Broad market indices ended lower as the BSE Midcap and Small Cap indices lost 1.27% and 0.67% respectively. Market breadth was negative as the A/D ratio was 0.59:1 on the BSE. NSE cash turnover was Rs.8,452crs. Vs. Rs.9,734crs. in the previous session.

Sectoral and Stock movers

Barring the BSE IT index, all the sectoral indices ended lower. The top losers were the BSE Realty, Bankex, Capital Goods and Power indices. The top gainers from the BSE 30 were Infy, Cipla and ITC. The top losers were Tata Motors, LT, NTPC and ICICI Bank.

Foreign markets

European markets are trading lower as the DAX (-0.53%), FTSE (-0.66%) and CAC (-0.45%) indices are in the red at 16:47 pm. Asian markets too have closed in the red barring the KOSPI ( 0.65%). The Nikkei (-0.22%), Straits (-0.47%), Hang Seng (-1.16%) indices have ended with losses.

Way forward

With the markets ending lower, traders will need to watch if the Nifty can hold above the 5020-5000 levels in the near term. Else, we could see a further correction in the markets.