MARKET UPDATES

SHREE GANESHAY NAMAAH !
India joins global markets sell-off, Sensex crashes 298 pts
Equities plunged and the rupee hit a fresh record low as markets globally felt the tremors of the political upheaval in Greece. The 30-share Sensex fell to 15,974.60 ��" its lowest level in four months��"before closing at 16030.09, down 298.16 points or 1.83% over the previous close. The Niftyclosed at 4,858.25, down 84.55 points or 1.71% after hitting a four-month low of 4,837.05 intraday.
Auto, metal, capital goods and banking shares were the worst performing sectors, with stocks like Tata Motors, JSW Steel, Steel Authority of India and Tata Steel figuring among the big losers.
In the currency market, the rupee hit a new low of 54.46 to the dollar, raising fears of more foreign investors cutting exposure to Indian shares. When the rupee weakens to the dollar, the value of a share portfolio in dollar terms decreases, as you need more rupees while converting them into dollars.
NIFTY FUTURE :
Supp. 4760/ 4780 / 4816 / 4842
CMP: 4856.90
Resis. 4872 / 4898 / 4930 / 4960
BANK NIFTY FUTURE  :
Supp. 8907 / 8953 / 9000 / 9053
CMP : 9108.05
Resis. 9163 / 9220 / 9265 / 9310
Market Updates :
To issue austerity measures to improve fiscal health: FM
India will issue some austerity measures to aid the fiscal consolidation process, Finance Minister Pranab Mukherjee said. Addressing the Parliament, he assured that the government has taken steps to boost growth. He is confident that India growth is intact and it is only the Greek crisis that is pulling the domestic market down.
However, there are many concerns overhanging India’s growth. The FM is concerned that GDP growth has fallen to 6.9%. Meanwhile, Mukherjee informed that the government is planning measures to bolster growth like allocating more grains to states, increase food subsidy and spending in rural infra, social sector to step up local demand.
Talking on the rising fuel prices, he said that the government can't pass on entire oil price rise burden to consumers. "We are examining if crude oil imports can be reduced. We need to take collective measures on rising fuel prices," he reiterated.
Stock With Volumes :
Info Edge (India), Mahindra & Mahindra Financial Services, HPCL and JainIrrigation Systems are among the other stocks to see a surge in volumes on BSE today, 16 May 2012.
Housing Development Finance Corporation (HDFC) clocked volume of 6.46 lakh shares by 13:30 IST on BSE, a 12.66-times surge over two-week average daily volume of 51,000 shares. The stock tumbled 4.16% to Rs 618.15.
Info Edge (India) notched up volume of 1.96 lakh shares, a 5.94-fold rise over two-week average daily volume of 33,000 shares. The stock fell 1.87% to Rs 700.
Mahindra & Mahindra Financial Services clocked volume of 1.20 lakh shares, a 5.76-foldrise over two-week average daily volume of 21,000 shares. The stock lost 0.71% to Rs 659.
Hindustan Petroleum Corporation (HPCL) clocked volume of 1.79 lakh shares, a 2.52-fold surge over two-week average daily volume of 71,000 shares. The stock rose 2.31% to Rs 309.80.
Jain Irrigation Systems clocked volume of 9.48 lakh shares, a 1.57-fold rise over two-week average daily volume of 6.03 lakh shares. The stock rose 3.5% to Rs 78.30.
Note : Data From Capital Market And Money Control !
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