Markets Inch Upwards, Feb IIP Growth At 4.1 Per Cent
Vidrum / 12 Apr 2012
The markets have inched higher at this hour. The February IIP data indicates that the industrial output has grown by 4.1%. Meanwhile, the January IIP data was revised from 6.8% to 1.1%.
The markets have inched higher at this hour. The February IIP data indicates that the industrial output has grown by 4.1%. Meanwhile, the January IIP data was revised from 6.8% to 1.1%. The markets are now expecting that the RBI may go in for a rate cut in the upcoming monetary review scheduled for Tuesday, April 17, 2012.
The other Asian indices are currently trading firmly in the positives. The positive signal from the European indices will also keep the Indian indices in gains.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| FTSE | 5,627.01 | -0.14% |
| CAC | 3,246.95 | 0.29% |
| DAX | 6,709.17 | 0.52% |
| Hang Seng | 20,311.58 | 0.85% |
| Nikkei | 9,524.79 | 0.70% |
| Shanghai | 2,350.86 | 1.82% |
| SENSEX | 17,331.21 | 0.77% |
| NIFTY | 5,271.10 | 0.85% |
Bankex has surged by 1.64% on the expectation of a rate cut from the RBI. SBI, Canara Bank and Axis Bank have all surged by 2%. The FMCG, Auto, CG and CD indices are also trading up. Among the other indices, HC, Realty, Teck and IT have lost the gains made yesterday.
Among the Sensex stocks, Maruti Suzuki and Hero MotoCorp are both up over 2% on improved sentiments. Hindalco and Sterlite are up over the positive IIP data. The financial shares of DLF are down by 2.13% despite expectations of a rate cut.
In other stocks, Astrazeneca Pharma has surged by 9.93%, and is the top gainer among the ‘A’ list stocks. Its promoters have a 90% shareholding, which is required to be cut to 75%, and we believe that the current surge is on account of the same. There is no news on the stock at the moment. The shares of Max India are up by 7.8% over the announcement of a 26% stake sale to the Japanese company, MS&AD. Dabur India's stock has surged by 4.10%. Overall, the Domestic Institutional Investment has gone from 5.7% to 6.44% as per the latest shareholding pattern.
Neyveli Lignite has surged by 4.16%, as the latest press release indicates that the company has been able to increase its power generation as well as mining production. ABB has also surged by 1.42% after it announced receiving new orders.
Lupin has scaled a new peak at Rs 559. GSK Consumer Healthcare, Nestle India and ITC has also touched new highs. On the other hand, Spectrum Foods has touched a new low, as is the case with Techno Electrical And Engineering.
Varun Industries, Sterling Holiday Resorts, Hitachi Home & Life Solutions (India), Gujarat NRE Coke and Bank Of Baroda are the few stocks that have shown a rise in volumes. The volumes have also risen in the HDIL and Unitech counters.
The market breadth, which indicates the overall health of the market, is positive. Out of a total of 2754 stocks, 1651 stocks advanced, 969 stocks declined and 134 stocks remained unchanged.
We expect the markets to be volatile with a positive bias today.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.