Thursday, June 13, 2013

Sensex down 170 pts; Apollo Tyres & Sun Pharma crash

The market has once again opened on a shaky note as the Sensex starts trading session 194.49 points down at 18846.64, and the Nifty is down 50.85 points or 0.88% at 5709.35. About 38 shares have advanced, 241 shares declined, and 26 shares are unchanged. The market has once again opened on a shaky note as the Sensex starts trading session 194.49 points down at 18846.64, and the Nifty is down 50.85 points or 0.88% at 5709.35. About 38 shares have advanced, 241 shares declined, and 26 shares are unchanged. indianstock market software stock market software
Ratings agency Fitch raising India's economic outlook to 'stable' from 'negative' has not even managed to boost market sentiments. On Wednesday, the rating agency has given a thumbs up to the government's fiscal consolidation drive and expects inflation to ease further.Stock specifically, Apollo Tyres crashes 13% as the company acquired US based Cooper Tires for about USD 2.5 billion  and will fund the deal through debt. nifty buy sell signal software stock market software

Other losing stock is Sun Pharma (down 5.1 percent) as the drug company settled Protonix patent infringement battle with Pfizer and Takeda for USD 550 million. Meanwhile, the rupee has opened at 58.10 per dollar Thursday, down by 31 paise compared to previous day's closing of 57.79 per dollar. On the global market front, Wall Street ended yet again in red in choppy trading. The CBOE VIX, the volatility index, spiked 9 percent. The Dow posted its first three day losing streak, amid concerns of Fed tapering its quantitative easing (QE) The Dow Jones Industrial Average tumbled 126.79 points, to close at 14,995.23The important data to be released from the US today are the weekly jobless claims. Estimates peg it slightly higher at 350000 compared to 346000 the previous week. share market technical analysis indianstock market software
In other asset classes, the euro is holding firm above 1.33 to the dollar. The dollar index has slipped below the 81 mark. Meanwhile, the yen strengthened, currently sub 96. In commodities, Brent Crude hovers around 103 dollars per barrel. From precious metals space, gold is continuing to trade around 1385 dollars an ounce.

Source : .Money Control

1 comment:

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