ECONOMY ANALYSIS
Sensex cracks 348 pts on Iraq tensions; Hero, Axis up 4.5%
India will overtake emerging mkt peers in 1-2 yrs: JPMorgan
Nifty unlikely to breach 8000; bullish on banks: Quantum
BPCL, HPCL fall 8-9%; Brent at 9-mth high on Iraq tension
Hero Motocorp gains 2%, Bain Capital may sell 4.3% stake
Sebi board to mull primary market reforms on June 19
MARKET ANALYSIS
The benchmark Sensex today tanked over 348 points, recording its biggest
single-session drop in over four months, on a broad-based sell off on
prices of crude oil surging to nine-months high levels amid unrest in Iraq.
In addition, a depreciating rupee which was trading 44 paise, or 0.73 per
cent, down at 59.69 against the US dollar in forex market, dampened
equity market sentiments.
The BSE index had risen to a day's high of 25,688.31 in early trade after
yesterday government data after trading closed showed that retail inflation
eased to 8.28 per cent in May and factory factory output growth
rebounded to 13-month high of 3.4 per cent in April.
Similarly, the National Stock Exchange index Nifty tumbled 107.80
points, or 1.41 per cent, to 7,542.10 after dipping to 7,525.35. It had
surged to 7,678.50 in early trade.
The BSE Realty index suffered the most losing 5.24 per cent as DLF, DB
Realty, HDILBSE -6.43 %, UnitechBSE -5.85 %, OmaxeBSE -1.52 %,
Oberoi RealtyBSE -5.04 %, and Indiabulls Real EstateBSE -3.36 % fell
up to 9 per cent.
Sensex cracks 348 pts on Iraq tensions; Hero, Axis up 4.5%
India will overtake emerging mkt peers in 1-2 yrs: JPMorgan
Nifty unlikely to breach 8000; bullish on banks: Quantum
BPCL, HPCL fall 8-9%; Brent at 9-mth high on Iraq tension
Hero Motocorp gains 2%, Bain Capital may sell 4.3% stake
Sebi board to mull primary market reforms on June 19
MARKET ANALYSIS
The benchmark Sensex today tanked over 348 points, recording its biggest
single-session drop in over four months, on a broad-based sell off on
prices of crude oil surging to nine-months high levels amid unrest in Iraq.
In addition, a depreciating rupee which was trading 44 paise, or 0.73 per
cent, down at 59.69 against the US dollar in forex market, dampened
equity market sentiments.
The BSE index had risen to a day's high of 25,688.31 in early trade after
yesterday government data after trading closed showed that retail inflation
eased to 8.28 per cent in May and factory factory output growth
rebounded to 13-month high of 3.4 per cent in April.
Similarly, the National Stock Exchange index Nifty tumbled 107.80
points, or 1.41 per cent, to 7,542.10 after dipping to 7,525.35. It had
surged to 7,678.50 in early trade.
The BSE Realty index suffered the most losing 5.24 per cent as DLF, DB
Realty, HDILBSE -6.43 %, UnitechBSE -5.85 %, OmaxeBSE -1.52 %,
Oberoi RealtyBSE -5.04 %, and Indiabulls Real EstateBSE -3.36 % fell
up to 9 per cent.
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