The Sensex fell on Friday 15th Mar,as private sector lenders were hit after the government and the RBI said that they would investigate allegations of money laundering practices,while S&P's comments that weaker growth was constraining ratings also weighed.
ICICI Bank fell 3.8 %, while HDFC Bank ended 1.1 % lower.
*The finance ministry P Chidambaram and the RBI are investigating allegations of money laundering practices at top private sector lenders ICICI Bank, HDFC Bank and Axis Bank.
*ICICI Bank Ltd, HDFC Bank Ltd, and Axis Bank Ltd said on 14th March, they were investigating the allegations but defended their internal controls aimed at preventing money laundering.
Shares of the three lenders fell on Friday with ICICI Bank down 4%, HDFC Bank down 1.7%, and Axis Bank down 0.9%.
Shares of the three lenders fell briefly on Thursday 14th March but recovered to end the session with gains following lower-than-expected core inflation data.
The Sensex provisionally fell 0.78 per cent, while the Nifty ended down 0.57 per cent.
The Indian equity market ended near day’s low on Wednesday amid heavy sell off seen in scrips across the sector. Market participants preferred to remain cautious ahead of the monthly inflation data to be released on Thursday.
The NSE Nifty has declined by almost 130 points or 2.1% in the past three trading sessions. In Today decline was led the Banking stocks,index heavy weights like SBI,ICICI Bank,Axis Bank and PNB were among the major laggards.
Barring the FMCG sector all the other major BSE sectoral indices ended in the red.
Among the other major losers were Consumer Durables, PSU, Auto and the IT stocks. Even the Mid-Cap and the Small-Cap stocks were under pressure.
Finally, BSE Sensex closed at 19362 with down 202 points over the previous close. It opened at day's high of 19511 for an intra-day low of 19338.
The NSE Nifty closed at 5851 with down 63 points over the previous close. It earlier touched a day’s high of 5893 and a day’s low of 5842.It opened at 5,884.
Sensex and Nifty gainers:
ITC, Sun Pharma, Tata Power, Bharti Airtel, Coal India, Hindustan Unilever
RIL, Infosys, TCS, Wipro, Bajaj Auto, HDFC Bank, ONGC, Gail India, Tata Motors, ICICI Bank, HDFC, Hero MotoCorp, Maruti, Jindal Steel, Tata Steel
The advance decline ratio was in favour of the bears.1882 stocks declined against 1003 advancing stocks,while 128 stocks remained unchanged.
The INDIA VIX shot up by 7% to close at 16.20 for hit a day’s high of 16.43 and day's low of 14.69.
Stocks which hit 52-week high during the week were:
Madras Cements, Satyam Comp, Asian Paints,Rollatainers, Vapi Paper.
Stocks which hit 52-week low during the week were:
Apple Finance,BEML, Golden Tob,JCT Electronics, JCT
Indian Stocks On 11th Mar 2013:
GLOBAL MARKETS :
# Nifty futures on the Exchange of Singapore gains 0.3%.The MSCI-Asia Pacific index, excluding Japan was high 0.05%.
# Asian shares eased but the dollar stayed near multiyear high against the yen on Monday after U.S. labour jobs data showed economic recovery there gaining traction.
# U.S. stocks closed out a week with another day of gains on 8th Mar as the Dow hit yet another record closing high on a payrolls report that improve performance even the most
optimistic forecasts.
Watch these India's Stocks FACTORS:
# Feb trade data
# India airwave auction to start with Sistema ShyamTele Services expected to be the only require.
# Feb auto sales data
FINANCIAL:
# The government is likely to either increase or scrap the
foreign direct investment limit in sectors where set at
less than 100 %.
# Exchange Board of India chief said that India's capital markets regulator will soon ease
registration norms for foreign investors.
# SEBI has also introduced regulations overseeing the public sale of preference shares and will allow hybrid securities, which has debt and equity components to be listed on exchanges.
COMMODITIES INDIA:
*The head of refiner Mangalore Refinery and
Petrochemicals Ltd said that India is set to halt all crude oil imports from Iran because
insurance companies in the country.
* An inter-ministerial panel is likely to decide on 11th Mar the floor price for 12.5 % stake sale in National Aluminium Co Ltd. Mint reported citing unidentified
sources.
* The Indian government raised 56.84 million dollar by selling some of its shares in state-run Rashtriya Chemicals and Fertilizers Ltd on 8th Mar.
Indian Stocks On 8th Mar 2013:
GLOBAL MARKETS:
* Nifty futures on the Exchange of Singapore gains 0.02%.The MSCI-Asia Pacific index,excluding Japan was up 0.29 %.
*In United State stock supported Asian shares on Friday 7th Mar 2013 but prices were covered ahead of key United State jobs and Chinese trade figures due later in the session,while the dollar waited near a three and half year high against the yen.
Watch these India's Stocks FACTORS :
* Finance Minister to address boards of RBI and SEBI
* India's Chief Economic Advisor Raghuram Rajan and Chairman of the Prime Minister's Economic Advisory Council C Rangarajan will address an industry meeting.
* The Indian government will sell a 12.5 % share in Rashtriya Chemicals and Fertilizers Ltd. through sale of shares to raise about 57 million dollar.
* India-foreign reserves bank lending data.
COMMODITIES INDIA:
* Petroleum minister M Veerappa Moily said that he long-drawn legal battle between the Comptroller &Auditor General and Reliance Industries Ltd. over
the analysis of the financial and physical performance of the
company's KG-D6 gas block has been resolved.
* India may avoid a drought for a fourth straight year as the El Nino weather system looks unlikely to impact monsoon rains a leading forecaster said on 6th Mar.
* A unit of Coal India Ltd has revived a proposal to set up a 1600 megawatt power plant in India's eastern Odisha state at a cost of 90 billion rupees.Marking the world's largest coal miner's foray into the power sector.
* Tata Steel Ltd will seek to form a group to finance construction of a railway line from its iron concessions in western Ivory Coast to the port of San Pedro.
* Jindal Steel & Power Ltd has extended its offer period for its proposed takeover bid of Gujarat NRE Coking Coal Ltd from March 15 to March 29.
