15 April 2010 Closing Market Updates

15 April 2010 Closing Market Updates  15:33

As expected a couple of days back, Nifty dropped suddenly after breaking 5310 mark.
Today initially Nifty gained some base to rise upto 5373.15 but after the inflation figures came out market started reacting.But last hour was bloodbath,nifty closed at 5268.85 shedding 54.10 points while Sensex lost 195.45 points and closed at 17626.51
India's food price index rose 17.22% in the 12 months to April 3, while the fuel index was up 12.43%. The rise in the food price index was slightly lower than an annual rise of 17.70% in the previous week.

The wholesale price index (WPI), on the other hand rose an annual 9.90% in March, the fastest pace in 17 months, driven by higher food and fuel prices.
The data was lower than CNBC-TV18 estimates of a double digit figure of 10.3% against 9.89% in February.
Finance Minister Pranab Mukherjee said that the numbers came out on expected terms. “I had expected it to rise to double digits”, reports CNBC-TV18 quoting NewsWire18.
The primary articles index was up 13.88% on the year on April 3.
The rise in the index was the fastest since October 2008 when it climbed 11.06%.
At its January policy review, the central bank raised its WPI inflation projection for end-March 2010 to 8.5% from the earlier estimate of at least 6.5%.
The wholesale price index is more closely watched than the consumer price index in India because it covers a higher number of products.
On BSE Sectoral Indices,Realty was the top gainer with 1.43% gain whereas Oil&Gas was the top loser by 1.80%.
Unitech was the top gainer among the Nifty50 stocks which gained 3.61% to close at 80.30 while Kotakbank was the top loser,declined by 2.99% to close at 745.
Overall market breadth was negative to 1.75 : 1 as 828 stocks declined and 473 stocks gained today on NSE.
 
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