Indian markets are trading in red after the RBI's mid quarterly policy review announcement. RBI has hiked the policy rates by 0.25 basis points, repo and reserve repo rates are now 7.50% and 6.50% respectively. RBI said that domestic growth outlook remains unchanged and there is no evidence of any sharp or broad-based slowdown. Back home, primary articles inflation for week ended June 4 has come in at 12.86% versus 11.52% (WoW), food inflation stood at 8.96% versus 9.01% (WoW) while, fuel group inflation was at 12.84% versus 12.46% (WoW). Back on street, on the global front, cues remained sluggish as all Asian and European indices are trading in the negative territory. All the domestic sectoral indices are trading in red, the broader markets too are in the red; there were 903 shares on the gaining side against 1,484 shares on the losing side while 124 shares remained unchanged.
The BSE Sensex is currently trading at 18,032.95, down by 99.29 points or 0.55%. The index has touched a high and low of 18,093.14 and 18,005.82 respectively. There were just 6 stocks advancing against 24 declines on the index.
The broader indices are trading in red; the BSE Mid cap and Small cap indices plunged by 0.70% and 0.38% respectively.
There were no gainers on the BSE Sectoral space. While, Realty down by 1.17%, CG down 1.00%, IT down by 0.94%, CD down by 0.90% and Auto down by 0.85% were the top losers on the index.
The gainers on the Sensex were Hindustan Unilever up by 1.23%, SBI up by 0.50%, BHEL up by 0.36%, Bharti Airtel up by 0.32% and Reliance Infra up by 0.25%.
On the flip side, Sterlite Inds down by 2.03%, Maruti Suzuki down by 2.02%, Wipro down by 1.85%, Bajaj Auto down by 1.83% and DLF down by 1.53% were the top losers on the index.
Meanwhile, India's service exports in April stood at $11.46 billion whereas imports were valued at $6.88 billion, the Reserve Bank of India said on June 15. This is the first time when monthly figures are published by the RBI.
In a press release, RBI said, now the aggregate data on trade in services will be released on a monthly basis after a gap of about 45 days. As a follow up of the implementation of the recommendations of the working group on balance of payments, provisional aggregate data on trade in services have been compiled for the first time for April 2011. These provisional data will undergo a revision when the BoP data are compiled on a quarterly basis which will be released with a lag of a quarter".
On the other hand, for the period April-May 2011, exports grew by 45.3% to $49.8 billion while imports were up by 33.3% to $ 73.7 billion and trade deficit for the same period were $ 23.9 billion. The export sector outstanding performance for April-May 2011 was mainly because of strong performance of the following sector engineering, 115% ($ 14.7billion); Gems $ Jewellery 23% ($5.7 billion), petroleum & oil products, 64% ($ 8.8 billion); cotton yarn & made-ups, 10.4% ($ 1.04 billion); electronics, 80% ($ 1.83 billion) and Marine products, 15.8% ($0.4 billion).
The S&P CNX Nifty is currently trading at 5,408.45, down by 39.05 points or 0.72%. The index has touched a high and low of 5,427.55 and 5,404.40. There were 10 stocks advancing against 40 declines on the index.
The top gainers of the Nifty were HUL up by 1.31 %, Reliance Capital up by 0.64%, BPCL up by 0.54%, SBI up by 0.48% and Kotak Bank up by 0.43%.
On the other hand, Ambuja Cements down by 3.30%, IDFC down by 2.76%, HCL Tech down by 2.30%, Grasim Industries down by 2.05% and Sterlite down by 2.03% were the major losers on the index.
All the Asian counterparts were trading in the red; Shanghai Composite declined 1.25%, Hang Seng plunged by1.87%, Jakarta Composite lost 0.91%, KLSE Composite down by 0.21%, Nikkei 225 slid 1.56%, Straits Times descended 1.06%, Seoul Composite dropped 2.01% and Taiwan Weighted descended 2.00%.
The BSE Sensex is currently trading at 18,032.95, down by 99.29 points or 0.55%. The index has touched a high and low of 18,093.14 and 18,005.82 respectively. There were just 6 stocks advancing against 24 declines on the index.
The broader indices are trading in red; the BSE Mid cap and Small cap indices plunged by 0.70% and 0.38% respectively.
There were no gainers on the BSE Sectoral space. While, Realty down by 1.17%, CG down 1.00%, IT down by 0.94%, CD down by 0.90% and Auto down by 0.85% were the top losers on the index.
The gainers on the Sensex were Hindustan Unilever up by 1.23%, SBI up by 0.50%, BHEL up by 0.36%, Bharti Airtel up by 0.32% and Reliance Infra up by 0.25%.
On the flip side, Sterlite Inds down by 2.03%, Maruti Suzuki down by 2.02%, Wipro down by 1.85%, Bajaj Auto down by 1.83% and DLF down by 1.53% were the top losers on the index.
Meanwhile, India's service exports in April stood at $11.46 billion whereas imports were valued at $6.88 billion, the Reserve Bank of India said on June 15. This is the first time when monthly figures are published by the RBI.
In a press release, RBI said, now the aggregate data on trade in services will be released on a monthly basis after a gap of about 45 days. As a follow up of the implementation of the recommendations of the working group on balance of payments, provisional aggregate data on trade in services have been compiled for the first time for April 2011. These provisional data will undergo a revision when the BoP data are compiled on a quarterly basis which will be released with a lag of a quarter".
On the other hand, for the period April-May 2011, exports grew by 45.3% to $49.8 billion while imports were up by 33.3% to $ 73.7 billion and trade deficit for the same period were $ 23.9 billion. The export sector outstanding performance for April-May 2011 was mainly because of strong performance of the following sector engineering, 115% ($ 14.7billion); Gems $ Jewellery 23% ($5.7 billion), petroleum & oil products, 64% ($ 8.8 billion); cotton yarn & made-ups, 10.4% ($ 1.04 billion); electronics, 80% ($ 1.83 billion) and Marine products, 15.8% ($0.4 billion).
The S&P CNX Nifty is currently trading at 5,408.45, down by 39.05 points or 0.72%. The index has touched a high and low of 5,427.55 and 5,404.40. There were 10 stocks advancing against 40 declines on the index.
The top gainers of the Nifty were HUL up by 1.31 %, Reliance Capital up by 0.64%, BPCL up by 0.54%, SBI up by 0.48% and Kotak Bank up by 0.43%.
On the other hand, Ambuja Cements down by 3.30%, IDFC down by 2.76%, HCL Tech down by 2.30%, Grasim Industries down by 2.05% and Sterlite down by 2.03% were the major losers on the index.
All the Asian counterparts were trading in the red; Shanghai Composite declined 1.25%, Hang Seng plunged by1.87%, Jakarta Composite lost 0.91%, KLSE Composite down by 0.21%, Nikkei 225 slid 1.56%, Straits Times descended 1.06%, Seoul Composite dropped 2.01% and Taiwan Weighted descended 2.00%.
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