Monday, May 13, 2013

The big market downtrend and inflation slowdown!

Delivering surprises are but humdrum affairs for both the indices of the Indian bourses. A positive sentiment pervaded across the Indian market when the sensex crossed the 20,000 mark. And then, it declined 2.14 percent to end at 19,691.67 today. The Nifty exhibited a similar downtrend, falling 2.08 percent to end at 5,980.45.

The biggest loser was ITC Ltd. that slumped by 5.2 percent on profit booking. Amid other major losers is TCS, falling by 2.6 percent on continued apprehension about a US immigration bill. It was indeed a panicky situation for investors and stock brokers alike.

Meanwhile, another breaking market news is CPI data or India's annual consumer price inflation slowing to 9.39 percent for the second straight month in April. While food prices mounted an annual 10.61 percent in April against 10.61 percent in March, consumer prices went up 10.39 percent in March. Inflation recorded in April eased to 5.50 percent, its lowest level since November 2009.

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