Weak global cues took the markets down for a 6th consecutive session as Benchmark indices continued their slide, falling below Sept 2012 levels in USD terms. Fitch’s upgrade, FM assurance notwithstanding, could not prevent the markets from falling over a percent for the 2nd time this week, and investor sentiments were further dented by a weakened INR. Selling occurred across all counters. Select stocks like Bharti Airtel, Hindalco, State Bank of India, Hindustan Unilever , Reliance and Ambuja Cement managed to buck the sell-off. Large volume led selling took place in Apollo tyre, Sunpharma and SUN TV.The 52 week low/ high ratio hit 10:1. The volumes were down 10% from yesterday.
Money Market Today :
Today, Call & CBLO rates were in range of 7.35% to 7.15% and 7.50% to 6.91% respectively.
Yield on 10 year benchmark G-Sec 7.16% GS 2023 were in the range of 7.28% and 7.34%.
Money Market Outlook :
The liquidity situation remained tight.
News:
The IIP growth for April 2013 (base year 2004-05) was placed at 2.0% (y-o-y). The mining, manufacturing and electricity segments recorded y-o-y growth rates of -3.0%, 2.8% and 0.7% respectively. The IIP data for March 2013 was revised higher to 3.4% (y-o-y) from earlier estimate of 2.5% (y-o-y).
Money Market Today :
Today, Call & CBLO rates were in range of 7.35% to 7.15% and 7.50% to 6.91% respectively.
Yield on 10 year benchmark G-Sec 7.16% GS 2023 were in the range of 7.28% and 7.34%.
Money Market Outlook :
The liquidity situation remained tight.
News:
The IIP growth for April 2013 (base year 2004-05) was placed at 2.0% (y-o-y). The mining, manufacturing and electricity segments recorded y-o-y growth rates of -3.0%, 2.8% and 0.7% respectively. The IIP data for March 2013 was revised higher to 3.4% (y-o-y) from earlier estimate of 2.5% (y-o-y).
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