Market Fall Down Due To Release IIP Data 10 jun 11

Dur To release  of IIP Data most of the stocks relay down which make the take the market in negative condition.
IIP(Index of Industrial Production) is 
a measurement which represents the status of production in the industrial sector for a given period of time compared to a reference period of time. IIP number is one of the best statistical data, which helps us to measure the level of industrial activity in Indian economy.  IIP data is a very important indicator to the Government for planning purposes and is also used by various organisations like Industrial Associations, Research Institutes, Financial Institutes and Academicians.

A better IIP number would show a positive growth on our Industrial production and share markets would possibly cheer.

Due to release of IIP DATA Nifty has tested the 5800 mark after the lower than expected Index of Industrial Production (IIP) data.

The 50-share NSE Nifty fell 42 points to 5,800 and the 30-share BSE Sensex lost 133 points to 19,319 amid volatility. Breadth too turned more in favour of declines - about 428 shares advanced as against 812 shares declined.

There was slow down in major sectors. Manufacturing sector grew 3.5% versus 16.1%, mining sector grew just 0.6% versus 11% on year-on-year basis. Capital goods growth came in negative 18.4% as against 46.7% (YoY).

Punjab National Bank was the equity movers for today

The scrip opened at Rs. 1090.00 and has touched a high and low of Rs. 1109.40 and Rs. 1065.00 respectively. So far 110391 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1395.00 on 09-Nov-2010 and a 52 week low of Rs. 933.00 on 26-May-2010.
Last one week high and low of the scrip stood at Rs. 1224.90 and Rs. 1065 respectively. The current market cap of the company is Rs. 34279.08 crore.
The promoters holding in the company stood at 58.00% while Institutions and Non-Institutions held 36.81% and 5.20% respectively.

The Bank’s net profit for the quarter ended March 31, 2011 has increased by 5.80% at Rs 1200.90 crore whereas the same was at Rs 1135.03 crore for the quarter ended March 31, 2010. Its total Income has surged by 32.89% at Rs 8585.65 crore for the quarter under review whereas the same was at Rs 6460.78 crore for the corresponding quarter of the previous year.

For the year ended March 31, 2011, the Bank has registered a growth of 13.52% in its net profit at Rs 4433.50 crore whereas the same was at Rs 3905.35 crore for the year ended March 31, 2010. Its total Income has also grown by 22.99% at Rs 30599.06 crore for the year whereas the same was at Rs 24879.40 crore for the previous year.

On consolidated basis, The Group’s net profit for the year ended March 31, 2011 has increased by 15.16% at Rs 4574.73 crore whereas the same was at Rs 3972.57 crore for the year ended March 31, 2010. Its total income stood at Rs 31206.60 crore for the year ended March 31, 2011 whereas the same was at Rs 25435.74 crore for the previous year.

Punjab National Bank (PNB) has also decided to raise its base rate from 9.50% to 10.00% and benchmark prime lending rate (BPLR) from 13.00% to 13.50%, with effect from tomorrow May 05, 2011.


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Bankers expect 25-bps hike tomorrow. Will RBI attend?

The Reserve Bank of India is treading a fine line while trying to cope with growing market expectations of a 25 basis points hike in its credit policy which will be announced on Tuesday.
"We expect RBI to raise rates by 100 basis points by October 2011, with a 25 bps hike on Tuesday," chief India economist at Bank of America Merrill Lynch, Indranil Sengupta said. Also, the bank could tighten provisioning norms for bank loans to real estate and might accept some part of the Deepak Mohanty report, according to him. 
the central bank would up rates by 25 basis points and not 50. "central bank expect a steady progression of 25 bps with 75-100 bps till December or maybe even up to March," he said.
Rate hike, whether it is 25 or 50 basis points, will be passed on to customers, according to Canara Bank's chairman and managing director S Raman. "The hike will translate to lending rate hikes," he said however, adding that in case of interest rate hikes, the burden won't be passed on. "Banks have been ahead of the curve for deposit rate hike," he pointed out.
So will the anticipated 100 bps hike up until December mar the credit demand? Sengupta says not really. He expects a 20% loan growth this year—a step down from 23-24% levels that the bank has seen. "The full impact of higher rates will be probably felt towards the end of the year. It’s not until the first quarter of next year that lending rates will really start biting growth as such,"

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Nifty Trend For Today | Market Trend For 19 April

Nifty Trend
Support level - 5650-5625
Resistance Level - 5784-5800-6000
If Nifty breaks 5700 level than one has to exit all longs from the market.


Weak Asian market can be attributed to the today’s plunge in the market which we had predicted yesterday. The market breadth has been negative with 1826 declines against 1083 advances. IndusInd Q4 net profit jumped 76% to Rs 172 cr and despite that it has gone down today as in the negative market environment even good stocks also take a toll. We see market moving in a broad range of 5700-5735-5800-6050-6135 and thus it is good to trade only in successful stocks as aim is to trade less but trade with a high level of accuracy. The aim should be to stay longer in market, rather than to cut the golden eggs laying hen as stock market opens its gateways to riches almost every day.

In the present global scenario of high inflation, we may see a consolidation phase in the market as we are going to see the March quarter earnings and looking out into June quarter earnings for companies across the globe and we need to be cautious as rising costs, input costs and the high rising crude costs are going to take a toll on the market.

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