Stock Market Closing : 9-August-2012
Nifty Updates On : 9-August-2012
Stocks to buy : 10-August-2012
BSE SENSEX and NIFTY benchmarks ended with a flat note due to depressing JUNE IIP data which contracted to 1.8% as against 2.4% in May, coupled with dismal corporate results including some of the index heavyweights like TATA MOTORS, RANBAXY and BHARTI AIRTEL. Other reasons for negative trend in the benchmarks include Moody’s cut towards India’s growth forecast to 5.5% for this year citing a lack of RBI action despite a broad-based slowdown and poor monsoons. Country’s largest Telecom operator BHARTI AIRTEL extended losses to 6% due to poor quarter results whereas top lender SBIN tanked 4% after the weak IIP data in June. Index heavyweight RELIANCE INDUSTRIES dropped by 1.5% whereas STERLITE INDUSTRIES topped the buying list with gains of 3.6%
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