Monday, July 30, 2012

Indian stock markets decline on weak economic conditions

Indian stock markets decline on weak economic conditions:
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bechmark Indian stock indices including Bombay Stock Exchange's SENSEX and National stock exchange's broader index NIFTY closed in deep red today as sparse monsoon may boost inflation further and RBI doesnot look like cutting interest rates, the only positive coming today was that INR gained over 70p to USD. All of the sectoral indices of Bombay Stock Exchange remained in red with Banks and realty leading the pack. Foreign Investors sold stocks worth $66 million today.

The 30 component BSE SENSEX closed for the day at 16,639.82, down 206.23 points. The large cap index touched a high of 16,899.77 during day's trade today. BSE Midcap Index and the BSE Smallcap Index declined by 2.07 percent each. BSE Realty Index was down 3.07 percent, the BSE Capital Goods Index was 2.04 percent lower, the BSE Bankex declined 1.67 percent and the BSE FMCG Index was 1.57 percent lower.

The broader index Nifty ended at 5,043, down 66.60 points. The 50-share NSE index touched a low of 5,032.40 in intraday trade today.

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