• The domestic bourses tanked on Friday after data showed that India’s GDP growth in FY12-13 stood at 5%, the lowest in a decade. Moreover the fourth quarter GDP growth also remained weak at 4.8%. Central Bank Governor comments that retail inflation still remained at higher level reduced hopes of a rate cut by the central bank in its upcoming policy review, scheduled on June 17. Better-than-expected FY13 fiscal deficit data could not improve investor sentiments.
• The 30-share benchmark S&P BSE Sensex closed down 455 points or 2.25% at 19,760. The broader 50-share CNX Nifty index fell 138 points or 2.26% to 5,986.
• Barring S&P BSE IT, all other sectoral indices closed in red, among which S&P BSE Realty, Oil&Gas, Bankex and FMCG indices were the top laggards. Rate-sensitive sectors fell over concerns that the RBI may not cut key rates in its upcoming monetary policy review.
• The 30-share benchmark S&P BSE Sensex closed down 455 points or 2.25% at 19,760. The broader 50-share CNX Nifty index fell 138 points or 2.26% to 5,986.
• Barring S&P BSE IT, all other sectoral indices closed in red, among which S&P BSE Realty, Oil&Gas, Bankex and FMCG indices were the top laggards. Rate-sensitive sectors fell over concerns that the RBI may not cut key rates in its upcoming monetary policy review.
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