MARKET 0UTLOOK 14 May 2012 by marketmagnify.com |
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The markets lost moderately during the week. The Sensex was down -3.19% while the Nifty lost -3.10% during the week. We can see the strong resistance of 5145 in Nifty. I think the Nifty is getting into a range between 4990 and 4830 and in Nifty cross the level of 4990 successfully then we can see the level of 5080.
From the global perspective, The slowdown in exports growth in April in the backdrop of the economic crisis in the Euro Zone is also a worrisome development,\" he said. Sectors such as engineering goods, electronic products and textiles posted high growth in the initial months of 2011-12, but subsequently slowed down. The textiles sector posted negative growth in April. Exports in April grew 3.2% after being in negative territory in March. For 2011-12, exports clocked 21% growth at $303 illion ( 14.5 lakh crore) However, a ballooning in trade deficit and current account deficit is now forcing the government to look for ways to boost exports. Trade deficit in 2011-12 was about 10.3% of GDP, while current account deficit was about 4% of GDP
For the week, The Sensex was down -3.19 % while the Nifty lost -3.10% during the week. The market is expected to remain volatile next week also.
NEWS AFFECTING INDIAN MARKETS
Indian Industrial Production falls unexpected 3.5%.
WPI measures the change in the price of goods sold by wholesalers. The higher this number is the stronger the affect on consumer inflation. A higher than expected reading should be taken as positive for the INR, while a lower than expected reading should be taken as negative for the INR.
Dr Reddy’s Laboratories Q4 net profit up to 27% YoY at Rs 212 cr.
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