11 March,2011 Closing Market Updates 15:30

11 March,2011 Closing Market Updates  15:30

Tsunami threatened market and Nifty ended with cautious note at 5449.85 with 44.55 points down whereas Sensex dropoped 132.32 points and ended at 18195.66. Market covered after making low on IIP numbers' disclosure. January IIP fig came out with 3.7% against 1.6% in December.

Among BSE Sectoral Indices, Oil & Gas Index was the major gainer by 0.85% and Metal Index was the top loser with 1.95%.

In Nifty50 stocks, Ranbaxy rose the most by 2.26% and ended at 461.Bhel was the top loser by 3.90% and ended at 1972.

Tatacoffee was the turnover topper by traded value and Unitech was the most traded stock by the quantity traded.

Advance/Decline Ratio was negative as 1048 stocks declined and 349 stocks gained today on NSE.

IIP Data :

The Index for Industrial Production (IIP) has come in at 3.7% for January, much higher than street estimates. According to a CNBC-TV18 poll, industrial output was estimated to be at 2.7% (YoY).

The capital goods sector has hugely disappointed with a degrowth of (-)18.6% versus 57.9% (YoY). However, surprises came in from electricity sector which saw an annual growth at 10.5% against 5.6%. Consumer non-durable goods grew at 6.9% (YoY) compared to (-)7%.

Starting from December itself, India has been struggling with a very high base which itself is bound to keep numbers a little lower. IIP had hit 20-month low of 1.6% in December.

Food and fuel inflation eased in late-February, but remained at elevated levels, maintaining the case for further monetary tightening to keep a lid on headline inflation.

India's food price index rose an annual 9.52% in the week to February 26, slower than a 10.39% rise in the previous week as prices of vegetables, potatoes and rice declined, data showed on Thursday.

The HSBC Markit Purchasing Managers' Index, an indicator of manufacturing expansion, rose to a three-month high of 57.9 in February from 56.8 in January.

That was the 23rd consecutive month the key index of manufacturing in Asia's third-largest economy has been above the 50 mark, that divides growth from contraction.

The manufacturing sector grew 5.6% in October-December from a year earlier, government data released on February 28 showed. India's exports in January rose an annual 32.4% to USD 20.6 billion, government data released last week showed.

Sector-wise growth in January

• Manufacturing sector growth at 3.3% vs 17.9% (YoY)
• Mining sector growth at 1.6% vs 15.3% (YoY)
• Capital goods growth at (-)18.6% vs 57.9% (YoY)
• Electricity sector growth at 10.5% vs 5.6% (YoY)
• Basic goods growth at 7.6% vs 11.5% (YoY)
• Intermediate goods growth at 7.9% vs 22.2% (YoY)
• Consumer goods growth at 11.3% vs 0.4% (YoY)
• Consumer durable goods growth at 23.3% vs 28.2% (YoY)
• Consumer non-durable goods growth at 6.9% vs (-)7% (YoY)