November WPI Inflation Eases, Markets Move Higher
DSIJ Intelligence / 14 Dec 2012
The markets opened on a weak note today but their course has changed following the release of Wholesale Price Index (WPI) inflation data earlier this morning.
The markets opened on a weak note today but their course has changed following the release of Wholesale Price Index (WPI) inflation data earlier this morning. The WPI data for Nov 2012 came in positive at 7.24 as compared to 7.45 for Oct. The easing in inflation has raised hopes of a rate cut in the RBI's monetary policy review meet scheduled for Dec 18, 2012. On the back of these hopes, the Sensex is trading higher by 37.54 points or 0.20% at 19226.80 and Nifty is up by 11.80 points or 0.20% at 5863.20.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 22569 | 0.55 |
| Nikkei | 9738 | -0.05 |
| Shanghai | 2151 | 4.34 |
| SENSEX | 19226.8 | 0.2 |
| NIFTY | 5863.2 | 0.2 |
The market breadth is neutral, with 1317 (47.79%) advances and 1306 (47.39%) declines. All the interest rate-sensitive indices are trading higher. The BSE Realty, Bankex and Auto indices have gained 1.24%, 0.76% and 0.53% respectively. The midcap and smallcap indices are up 0.40% and 0.03% respectively.
Although the global sentiment has been subdued due to concerns over the fiscal cliff in the US, the Shanghai Composite is trading higher by 4.34%. This humongous rise in the index has resulted out of the initial reading of the manufacturing Purchasing Managers’ Index (PMI) released by HSBC and London-based Markit Economics.
Fertiliser stocks have seen an upward movement. This up-move has resulted out of a urea policy by the government that is expected to bring in projects worth Rs 35000 crore. The stocks of Chambal Fertilisers and Chemicals, Liberty Phosphate and Deepak Fertilisers and Petrochemicals Corporation are trading higher by 1.61%, 6.30% and 1.04% respectively.
Jet Airways and Kingfisher Airlines are trading higher by 1.54% and 0.23% respectively as speculations over a possible stake out to Etihad continue on the street.
Among the top gainers are Sterlite Industries, SBI and Tata Motors, up by 2.29%, 1.95% and 1.86%. Tata Motors has been seeing gains since yesterday due to strength in the global retail numbers of Jaguar and Land Rover.
The top losers include Bharti Airtel, BHEL and ONGC, lower by 2.00%, 1.25% and 1.00% respectively.
Ahead in the day, we expect the markets to continue trading positive over a lower inflation figure and buoyed hopes.
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.