The markets rose today on the back of better than expected U.S Payrolls data and emerging solutions for the Euro crisis. Global cues too, are in the positive territory, with Asia setting the pace, followed by Europe. News of implementation of reforms during the monsoon session of the parliament also buoyed sentiments. In all, it was a good start to the week on the back of Friday’s data. India’s FM P. Chidambaram came up with plans to attract further investments in the country, policies to tackle inflation and promote growth. This could just be the precursor to the monsoon session of the parliament with investments expected to rise to 38.5 percent of the nation’s GDP.

The Nifty closed 5282.55 points, up 66.85 points or 1.28 percent on highs of 5293.20 and lows of 5260.85 in trade today.  The Sensex closed 215.03 points or 1.25 percent higher at 17412.96 points. It touched highs of 17451.53 points and low of 17313.05 in trade.

On the sub-indices news on the BSE, the Midcap Index inched 0.44 percent higher and the Smallcap Index rose 0.77 percent. The Oil & Gas Index gained 2.99 percent, mainly on news that benefited Reliance Industries, the Auto Index rose 1.69 percent and the Bankex advanced 1.34 percent. However, the FMCG Index fell 0.49 per cent and the BSE IT Index declined 0.25 per cent.

On the individual stocks, Reliance Industries rose almost 5.7 percent in trade as WTI crude saw a sharp rise on US payroll data. Developments between the oil ministry and the co. on investments in the KG-D6 basin to spur output also was favourable for the stock. Banks such as HDFC Bank and ICICI Bank also held onto their gains on hopes of rising investment in the country.

The Rupee hovered at 55.32, down 43 paise to the Dollar.

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(Economic Times, Bloomberg ,Business Standard)


The Indian markets recovered from the session lows, as a slew of better than expected European data help lift market sentiments. Sensex 30 index closed 26.43 points down at 17197.93 (-0.15%), while the Nifty 50 closed down 12.05 points at 5215.70 (-0.23%). The markets dipped lower in the morning session, as the ECB dashed hopes of any immediate action with regards to easing the Spanish and Italian borrowing costs. The Sensex 30 index reached an intra-day high of 17,342.88 and low of 17,182.29. While Nifty 50 reached a high of 5219.55 and a low of 5166.90. On the currency front rupee hovered around INR 55.45 to the Dollar.

· Germany: Markit Service PMI for July at 50.3 vs. est. 49.7 vs. prev. 49.9.

· Eurozone: Markit Service PMI for July at 47.9 vs. est. 47.6 vs. prev. 47.1.

· Eurozone: Markit PMI Composite for July at 46.5 vs. est. 46.4 vs. prev. 46.4.

· Eurozone: Retail Sales on M/M basis for June at 0.1% vs. est. 0.0% vs. prev. 0.8%.

· Eurozone: Retail Sales on Y/Y basis for June at -1.2% vs. est. -1.4% vs. prev. -0.8%.

On the domestic front, an economic survey showed that, Indian economy is likely to grow by 6 to 6.2 percent in the current fiscal versus a previous of 6.5 per cent in 2011-12.

In the individual stock corner, today’s top gainers included Asian Paints, Wipro, Dr. Reddys Labs, ONGC and Gail At the bottom end stocks included Sterlite Industries, Jindal Steel, Tata Steel, Hindalco, IDFC and ICICI Bank.

Commodities traded higher during the session with WTI at USD 88.22 up 1.25% and Brent trading at USD 106.55 up 0.61%. Later in the day, US Department of Labor is expected to release Nonfarm Payrolls data for July. The current expectation stand at 100K versus a previous 80K; Unemployment rate for July expected at 8.2 per cent versus previous 8.2 per cent.

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(Economic Times, Bloomberg ,Business Standard,FX Street)



China’s shipyard’s are piled on with a larger number of ships on account of declining orders experienced in the 1HY12 period. Orders for new ships declined on rising prices of commodities, fluctuating cargo rates and the uncertainty in the economy. Orders have declined by almost 50 percent to see some of the smaller firms file for bankruptcies. (Bloomberg)

China’s banking regulator, The China Banking Regulatory Commission would keep a watch on its property markets by enhancing risk management and lending activities. The regulatory body planned to increase lending activities to construction projects, smaller businesses and other housing projects. (Bloomberg)


The chairmen’s of Central Bank and Union Bank , expect a 50 bps reduction in CRR to ease money supply. However the MD of Yes Bank and the Indian chief economist of HSBC, did not expect RBI to cut CRR or the Repo rate in the coming policy meet.  (Financial Express)

According to the Agricultural and Processed Foods Export Development Authority, exports of organic textile products are expected to rise to INR 1500 cr in FY2012-13 vs INR 1027 cr in the previous year. Uniformity in standards and regulations across major markets such as Europe and Japan would smooth the path for exports of goods. (Business Standard)

Market capitalization of top 7 co.’s in the Sensex declined by INR 31792 cr for the week ended 27 July. SBI led losses followed by Coal India, ONGC and Bharti Airtel and NTPC. TCS, ITC and HDFC Bank gained their market cap during the same period. (Economic Times)

Indian foreign exchange reserves grew by USD 580m (versus a previous decline of USD 872.27m) to USD 287.34b for the week ended 20 July. (IANS/YAHOO)

For the month of July (3rd to 27th) FII’s made a gross purchases of INR 44,192cr shares and sold equities worth INR 35,768cr. (Economic Times/PTI)

Steel Co.’s – According to CMIE, steel prices are expected to rise by 7.2 per cent this year and rates are expected to firm up from October due to rise in demand, despite the weakness in the international markets. However, prices were likely to remain under pressure during the July-September monsoon season. (Financial Express)

Reliance Industries – Infotel Broadband is likely to procure over USD 1b of network gear from Samsung Electronics, to meet its 4G equipment requirements. (Economic Times)

Petronet LNG – Co. is to construct a power plant project near its upcoming LNG import port in Kerala, India. The co. will construct a 1200 megawatt gas-fired power plant in a 50:50 joint venture with the state government. The outlay is expected at around INR 3500 cr. (Business Standard)

Sesa Goa – Co. plans to extract around 10 m tonnes of iron ore in the first phase from its Liberian Western Clusters project for FY2013-14. The co. expects a higher output on account of higher projection of reserves in the Liberian plant. Reserves are expected 3x higher than its original estimate of 1 b tonnes. (Business Standard)

Nalco – Co. is likely to take a hit of INR 300cr annually as it is forced to keep 5 per cent of production capacity idle due to lower metal price and shortage of coal. (The Hindu Business Line)

Godrej – Consumer product maker stated that it observes a slowdown in sales in the rural markets of India.  Rise in the cost of living, higher inflation and high interest rates could contribute to the slowdown inspite of the FMCG industry seeing a rise at a CAGR of 11 percent in the last ten years. (Business Standard)

Lupin – According to co.’s management, co. is looking to acquire brands and technology firms in US markets, as co. aims to grow its sales over 20 per cent over the next two years. (Business Standard/PTI)

Walmart Inc and Prudential Finance have started lobbying with the U.S government and legal policymakers to gain support for its retail venture in India. FDI in multi-brand retail has been kept on hold by the Indian government on account of the strong opposition by political parties. (Economic Times)

Firms NCC and IL&FS Engineering have decided to exit from the INR 850 cr hydro electric construction project on a tributary of the Sutlej River in India. (Economic Times)


Maruti Suzuki – Co. reported 1Q12-13 net profit at INR 423.8cr vs. previous INR 549.2cr. Total sales at INR 10,529cr vs. previous INR 8,256.6cr. (Indian Express)

HDFC Ltd – Co. reported 1Q12-13 bet profit at INR 1,275.86cr vs. previous INR ,1020.06 in 1Q11-12. Total income at INR 11,656.50cr vs. previous INR 7,268.79cr. (Indian Express)

Birla Corp – Co. reported 1Q12-13 net profit at INR 84.74cr vs. previous INR 111.88cr in 1Q11-12. Net Sales at INR 658cr vs. previous INR 556.97cr. (Indian Express)

United Spirits – Co. reported 1Q12-13 net profit at INR 144.95ce vs. previous INR 137.71cr in 1Q11-12. Net sales at INR 2,057.29cr vs. previous INR 1,935.42cr. (Financial Express)


The ECB president Mario Draghi is expected to meet with the head of Bundesbank, Jens Weidmann over next couple of days, to discuss plans of joint rescue by ECB and European rescue funds, to purchase Spanish and Italian government bonds, according to persons familiar. (WSJ)

Greece political leader have agreed on most of the austerity measures demanded by its creditors and now are looking at pension and wage cuts to find the Final EUR 1.5b. Greece requires to find savings worth EUR 11.5b for 2013 and 2014 to satisfy the demands of its lenders. In related news the ECB and national central banks are expected to take losses on their holdings of Greek government bonds. As official aims to reduce Greece’s debt by EUR 70b to EUR 100b, cutting its to about 100 per cent of annual GDP, according to several eurozone senior officials. (Reuters/Yahoo/Telegraph UK)

The Emnid poll for the Bild am Sonntag mass circulation weekly showed, 51 per cent Germans believed that, Germany would be better off outside the eurozone. The poll also showed that 71 per cent of Germans wanted Greece to leave euro if it did not live up to its austerity promises. (Telegraph UK)

The ratings agency Standard and Poor’s has affirmed UK’s ‘AAA’ credit grade, and expects the economy to recover in the second half of the year. (AP/ Boston.com)

Aviva Plc – Co. plans to divest its stake in U.S life insurance business division which it had purchased for USD 2.8 b in 2006. Buyers include private equity firms and financial firms. (Bloomberg)


President Barack Obama’s Office of Management and Budget has forecasted a budget deficit of USD 1.21 t in FY12, lower than the USD 1.33 t forecasted in February. It also forecasted that unemployment rate would average 8 percent and 4Q12 GDP is expected to grow 2.6 percent on a y/y basis. (Bloomberg)

The first year of recovery of the U.S economy from the recession was weaker than estimated as GDP rose only 2.5 percent in the period ended June 2010, vs 3.3 percent expansion previously. (Bloomberg)

Boeing – Co. won a USD 339m US Air Force contract to build the 10th satellite in the Wideband Global Satellite Communications program. (Economic Times/Reuters)



The Indian indices closed the day in the positive territory on the back of strong gobal cues. The Sensex ended the day at 17278.85 points, up 93.84 points or 0.55 percent.  The Sensex touched a high of 17318.93 and a low of 17244.76 points in intraday trade today.The Nifty closed 26.40 points or 0.51 percent higher at 5242.70 points with highs of 5257.75 and a low of 5233.15 points.

On the sectoral indices front on the BSE, the Midcap Index was up 0.14 percent and the Smallcap Index also gained 0.39 percent. The IT Index rose 1.62 percent, the Oil & Gas Index returned 1.21 percent higher, the Power Index was up 0.94 percent and the Metal Index gained 0.91 percent. However the Auto Index was down 0.39 percent.

On the global front, Asia closed higher on favourable results of co’s the previous night. Hang Seng and Kospi gained over 1.50 percent each on average while the rest, China’s stock exchange and Japan’s Nikkei gained 0.7 percent on average. European indices also opened the day’s trade at higher levels on stronger earnings.

On other news from around the globe, Spain’s bond auctions saw yields rise again. Deutsche Bank planned to slash 1000 jobs from its investment banking unit. Novartis filed its results and its EPS exceeded expectations. UK’s Retail sales for June registered a rise, but came in below expectations.

On the stock front, oil marketing co’s gained after a report by UBS stated that diesel prices would have to be raised by the government to avoid a further credit rating downgrade. Infosys, which was panned on its dismal results, saw buying activity as it gained 3 percent while TCS inched higher marginally by 0.4 percent. BHEL gained over 2 percent on news of the govt. of India to propose a 21 percent duty on equipment imported for power generation. L&T, its rival, also marginally gained today. Nomura upgraded Reliance Industries to buy from neutral on attractive valuations which will help it post better earnings.  Maruti dominated news for all the wrong reasons as union workers clashed with the management resulting in stoppages at its Manesar plant. The stock declined 9 percent.

Crisil India reported its numbers and so did Kotak Mahindra Bank and L&T Finance Holdings.

On the currency front, the Rupee traded at an intraday high of 55.14/16 to the Dollar.

Commodities traded higher during the session with WTI at USD 91.23 up 1.51% and Brent trading at USD 107.07 up 1.82%. On the weather front, severe thunderstorm expected over Pittsburg, Columbus and Louisville.

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(CNBC, Economic Times and Moneycontrol)


The markets ended in the positive territory in today’s trade on positive global cues, the CPI inflation data which came in lower at 10.02 percent.The index saw buying activity in stocks in the metals, realty, capital goods and tech sectors. The Index however remains range bound between 5150 – 5300. Investors see not many major events happening in the markets and hence the narrow range. Fed however did not propose a QE issue and I guess, markets were waiting for such an event to provide short-term momentum.

The Sensex closed 79.71 points or 0.47 percent higher at 17185.01 points. The index touched a high of 17200.42 and a low of 17038.59 points in trade today. The Nifty closed 23.45 points higher to end at 5216.30 points. It touched a high of 5222.85 and a low of 5169.05 points in trade today.

From the global market scenario,Asia was lower in trade on the outcome of the Fed not introducing major stimulus measures. China ended marginally positive for an otherwise lower close. Europe however has opened higher, although marginally as earnings reports of co.’s buoyed markets.

Credit Suisse reported its earnings, but shares of the co. gained as it announced a slew of measures to cut costs, sell assets to add around CHF (Swiss francs) 8.7 b (USD 8.9 b) to boost its capital. With issues relating to the stability of the banks, the move would be welcomed by investors for the near term. But it remains to be seen as to how the co. would go about with it and its performance in the subsequent quarters.

On the sectoral indices front on the BSE, the Metal, Realty, Capital Goods and IT index gained by an average of 1 – 2 percent each. Auto and  while Auto, Oil  and Gas Indices declined in trade.

On the individual stock front, Greaves Cotton surged 9 percent to INR 67 a share on a volumes which of 3.33 m shares were 10x normal volumes. News of the co. signing a long term agreement with Atul Auto in the previous week saw the share price surge. Bajaj Auto posted its 1Q12 earnings and the stock closed higher by 2.4 percent at INR 1480 a share. Tata Motors declined 3 percent to INR 220 as the stock went ex-dividend today. The co. proposed a dividend of INR 4  a share.

On the currency front, the Rupee closed 0.23 paise higher at 55.28 to the US Dollar.

Commodities traded lower during the session with WTI at USD 88.76 down 0.52% and Brent trading at USD 103.73 down 0.26%. On the weather front, thunderstorm expected over Boston, New York, Philadelphia and Washington D.C.

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( Business Standard, Economic Times and Moneycontrol)


Lacklustre day of trade, volatile index, sums up the day. The Sensex closed a measly 1.99 points up or 0.01 percent at 17105.30 in trade today. The Sensex touched a high of 17236.08 and a low of 17,074.63 points in trade today. The Nifty closed 4.4 points or 0.08 percent lower at 5192.85 points. Nifty touched a high of 5236.70 and a low of 5181.70 in trade today.

RBI governor D Subbarao stated that India should come up with a Producer Price Index to measure inflation rather the current procedure as it was able to capture price changes of goods and services better.

On the sectoral indices front on the BSE, the Realty Index was down 1.47 percent, the Auto Index declined 1.41 percent, the Power Index was 1.34 percent down and the Capital Goods Index also fell 0.88 percent. The FMCG and Healthcare Index rose 1 and 0.83 percent respectively.

On the stock front, stocks of the Tata Group declined in trade today for the second consecutive session. TCS declined 2 percent, Tata Motors was lower by 1.5 percent; Tata Steel and Tata Power declined 0.7 percent each. Reliance Industries declined in trade to INR 719.15, down 0.16 percent, on warnings that its output would lower from the KG-D6 basin if the its latest capex plan is not announced. Axis Bank was down 2 percent on rising NPA’s inspite of posting higher 1Q12 numbers. Bajaj Finance also reported its earnings. Aviation stocks declined on price hike of aviation turbine fuels.

On the global markets, most of them in Asia rose on account of hopes of the Fed announcing a stimulus package for the economy. Asia rose well by around 0.5-1.00 percent, Hang Seng being the biggest gainer amongst the Indices. Europe is marginally positive in trade.

It was shocking to see HSBC Holdings being involved in investigations which could seriously malign its image. The co. was accused of money laundering, bypassing sanctions by lending to Iran and to various terrorist organizations.

Spain auctioned its debt worth EUR 3.5 b worth of short term debt on lower yields.

All eyes on the Fed today as markets would look forward to stimulus inducing measures.

On the currency front, Rupee closed at 55.21, up 0.07 paise to the dollar.

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(Bloomberg, Business Standard, Economic Times and Moneycontrol)


Well, inflation numbers came in today, and it came in lower than expected. Markets, which were volatile in trade, were affected by the news of a lower than expected monsoon season, which potentially could have an impact on the economy of India. The Meteorological Department announced that rains would miss its forecast in July and would be lower in September. IT stocks also disappointed in trade today.

On the global scenario, markets ended flat but China declined on earnings worries. Europe has also traded flat in trade today as not much in terms of events happened.

Markets ended near their day lows today. The Sensex closed 110.39 points or 0.64 percent lower at 17103.31 points today. Sensex touched a high of 5246.85 and a low of 5190.45 in trade today. The Nifty index closed lower by 30 points, below the 5200 mark at 5197.25 points which is near its 20-day moving average. Nifty touched a high of 17282.30 and a low of 17079.63 in intraday trade.

Amongst the sectoral indices on the BSE, the IT Index was continued to decline by2.56 percent, the Metal Index declined 2.09 percent, the Realty Index  and Power Index declined 1.86 percent  and 1 percent respectively.

On the individual stock front, Bank of America Merrill Lynch panned Reliance Industries by stating that the firm could see reduced output by 24 percent for its 2Q12 results as the GRM from its Singapore operations touched USD 5.5 a barrel, a 19 month low. Kingfisher Airlines declined 5 percent to INR 9.85 a share, below its face value of INR 10 on news of the co.’s employees going on a strike for nonpayment of dues. Lupin gained 4 percent to INR 574 a share. United Phosphorous acquired a Netherlands based firm Agrichem. Tata Motors saw a 6 percent rise in vehicle sales on a y/y basis.

Commodities traded mixed during the session with WTI at USD 86.69 down 0.47% and Brent trading at USD 102.42 down 0.02%. In Geopolitical news Saudi Arabia and United Arab Emirates have opened a new pipeline bypassing the Strait of Hormuz. The new pipeline bypassing the strait to carry 6.5m barrels of oil accounting for 40 per cent of the oil that passes through the Strait of Hormuz.  Brent trading at USD 102.42 up 0.02%

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(Bloomberg, Business Standard, Economic Times and Moneycontrol)


The week ends with the markets closing flat in a listless session of trade on the back of flatter global cues. HDFC Bank‘s 1Q12 numbers rose 30 percent, but were in line with expectations, hence, it didn’t have much of an effect. LIC provided a small boost to the investors as the insurance giant on news that it would infuse a total of INR 60,000 cr in Indian equities. It should be noted that the firm previously bailed out ONGC as part of the government’s divestment programme.

The Sensex closed 18.85 points or 0.11 percent lower at 17213.70 points. Sensex touched an intraday high of 17342.88 and a low of 17182.29 in trade today. The Nifty closed 8 points lower at 5227.25 points after touching highs of 5267.15 and a low of 5216.85 points today.

On the news from the global cues, Asia closed marginally higher on China’s GDP data, which failed to give a direction to the markets. Europe, however, opened higher in trade.


  • There also was some GDP action today with Singapore also giving out 2Q12 numbers.
  • Bond auctions in Italy saw yields decline over previous auction’s data as the investors ignored Moody’s rate cut on the country.
  • India’s trade deficit for June narrowed, on data released by the Commerce Secretary.

On the sectoral indices for the BSE index, the Midcap Index closed 0.23 percent lower; SmallCap Index declined 0.12 percent, Realty Index was down 1.58 percent, the Metal Index was lower by 1.24 percent, the Power Index slipped 0.7 percent and the IT Index was down 0.49 percent.

On the individual stock front, HDFC Bank came up with its 1Q12 numbers. R Software rose 16 percent to INR 98.15 a share on its consolidated profit rising almost twice to INR 9.58 cr for its 1Q12 results. IT Firm IGate also rose in trade as it reported a 217.5 percent rise in 1Q12 profit which came in at USD 12.7 m.

There was some news on the FII front as well. FII’s reduced their stake in ICICI Bank and Axis Bank while stake in HDFC Ltd and HDFC Bank. FII’s also divested some of their stake in Yes Bank, Indus Ind Bank and Union bank of India during the quarter.

On the currency front, the rupee closed near the 56 levels at 55.93, up 0.41 points. Commodities traded higher during the session with WTI at USD 87.18 up 1.28% and Brent trading at USD 102.06 up 0.98%.

Things to watch out for:

Inflation data (that scheduled for July 16), which will decide the Reserve Bank of India’s move on July 31 (a day of first quarter monetary policy review).

Analysts on average expect June inflation in the range of 7.5%-7.8% as against 7.55% in previous month and core inflation around 4.9%-5.5% versus 4.8% in May. Therefore they feel the RBI may not consider rate cut.

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(Bloomberg, Business Standard, Economic Times and Moneycontrol)


The Sensex and Nifty closed higher in days trade today led by L&T and ITC and banking and auto sectors. The Sensex closed 226.37 points or 1.30 percent higher at 17618.35 points in trade. The Nifty closed higher by 1.33 percent at 5345.35, ending trade 70.20 points higher. News on better than expected UK data on manufacturing and the resolution of the EU leaders to provide Spain with funding spurred markets today.

BofA-Merrill Lynch issued a warning to co’s coming out with first quarter earnings would report a weaker number. OECD added to woes by stating in its report that unemployment would still remain higher until end of 2013.

On the sectoral indices front for the BSE index, the Midcap index closed 1.1 percent higher while the Smallcap Index rose 0.79 percent. Capital Goods Index advanced 1.82 percent, the Banking Index advanced 1.52 percent and the Auto Index was higher 1.50 percent.

Global cues set forth with Asia closing lower in days trade on lower import data by China. India also started lower but alongwith Europe, it rose on the favourable news emanating from the UK and the EU stability fund.

On the individual stock front, RCom rose 7 percent on higher trading volumes. Companies of the Anil Dhirubhai Ambani Group (ADAG) rose in trade on investors response to the IPO of its undersea cable business.  OnMobile gained 8 percent on news of its promoter, CEO and MD Arvind rao, resigning from the co. Maruti Suzuki gained in trade as its car sales rose 8.29 percent in June. For Kingfisher Airlines, grace period from its lenders would soon run out of time as SBI led calls to get the co. to infuse equity or cash into the co.

On the earnings front, Indus Ind Bank’s 1Q12 results came in line with expectations.

The Rupee gained 0.47 paise to close at 55.87 to the dollar.

Commodities inched lower during the session with WTI at USD 85.51 down 0.53% and Brent trading at USD 99.58 down 0.74%. On the weather front, hurricane Emilia in the Eastern Pacific has reached category three status.

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(Business Standard, Economic Times and Moneycontrol)


The Indian markets closed on a lower note to start the week on global cues and lower data from the US and inflation cooling in China. The Sensex closed 129.14 points or 0.74 percent lower at 17391.98 today. Sensex touched an intraday highs of 17485.79 and a low of 17343.55 points in trade. The Nifty closed 41.80 points or 0.79 percent lower at 5275.15 points. It touched an intraday high of 5300.60 and a low of 5257.75 points.

On the global scenario, Asian indices closed on China’s inflation and US data (Friday) which fuelled concerns of growth. Europe has also opened lower in trade today with investors keeping an eye on the earnings season.

On the sectoral indices front, BSE Midcap Index declined 1.30 percent and the BSE Smallcap Index fell 1.13 percent lower today.  The Auto Index also fell 1.3 percent, the Metal Index moved 1.7 percent lower, the Power Index was 1.6 percent down and the BSE Capital Goods Index was 1.3 percent lower in trade today.

On the currency front, the Indian rupee hit an intraday low of 56.06 to the Dollar, but got recovered to 55.84 at close.

On a report by the Intelligence Bureau, there were suggestions that Ketan Parekh (KP) and his associates falsely drove up prices of certain shares  on higher volumes. The companies which were targeted were Dewan Housing (which was down 14.5%), Goenka Diamond (plunged 20%), Orchid Chemical (down 5%), IVRCL (down 6.7%), Pantaloon (down 3.5%), TBZ (down 6%) and GMR Infra (tanked 5%).

Shares of IGL rose 5.5 percent on hiking CNG prices. SKS Microfinance also rose 12 percent to INR 94.95 for the third consecutive trading session on higher volumes of 9.78 m shares as RBI Governor D. Subbarao hinted at a possibility in relaxation on norms for microfinance firms.Bajaj Auto declined 3 percent as it cut prices of its products in Sri Lanka in the range of  5 to 14 percent to boost sales as the country hiked its excise duty.

Commodities inched higher during the session with WTI at USD 84.85 up 0.47% and Brent trading at USD 98.64 up 0.46%. On the weather front, slow moving thunderstorms are expected to erupt from Virginia to South Carolina.

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(Business Standard, Economic Times and Moneycontrol)