MARKET UPDATES

SHREE GANESHAY NAMAAH !
Nifty below 4950; 'Sell in May, go away' comes true again
After being down in the dumps for the better part of day, Indian equities staged a smart late trade recovery on hopes of a RBI rate cut to revive the sagging economy.  Also, gains in European shares aided the recovery.
The country’s economic growth slumped in the January-March quarter to a nine-year low of 5.3% as the manufacturing sector contracted and a fall in the rupee to a record low suggests the economy remains under pressure in the current quarter.
The old wisdom "Sell in May and Go Away" strategy certainly held this year with benchmark index Niftyshedding close to 6% in the current series.
NIFTY FUTURE :
Supp. 4856 / 4880 / 4892 / 4903
CMP: 4916.25
Resis. 4936 / 4950 / 4976 / 4995
BANK NIFTY FUTURE  :
Supp. 9114 / 9188 / 9265 / 9352
CMP : 9438.65
Resis. 9525 / 9615 / 9690 / 9763
Market Updates :
Bank of India leads gainers in 'A' group
UCO Bank, Asian Paints, Central Bank of India and Syndicate Bank are among the other gainers.
Shares of public sector banks dominated the gainers in the BSE's 'A' group today, 31 May 2012, on hopes the Reserve Bank of India (RBI) will cut interest rates to revive growth after the latest data showed a sharp deceleration in GDP growth in Q4 March 2012.
India's economy grew at a much lower than expected annual rate of 5.3% in Q4 March 2012, largely due to a decline in manufacturing output, the latest data showed. The data showed that the manufacturing sector shrank 0.3% in the quarter compared with a year earlier. The farm sector grew 1.7%. GDP growth for the year ended March 2012 was at 6.5%, lower than the government's projection of a 6.9% expansion.
State-run Bank of India spurted 6.59% to Rs 340.45. The stock topped the gainers in the BSE's 'A' group.
State-run UCO Bank jumped 5.63% to Rs 69.40. The stock was second biggest gainer in 'A'group.
State-run Central Bank of India rose 5.09% to Rs 76.45. The stock was fourth biggest gainerin 'A' group.
State-run Syndicate Bank rose 4.76% to Rs 92.50. The stock was fifth biggest gainer in 'A'group.
India's largest paint maker by sales Asian Paints climbed 5.57% to Rs 4034.65. The stock was third biggest gainer in 'A' group. The stock hit a record high of Rs 4,170 in intradaytoday, 31 May 2012.
Stock With Volumes :
Volumes jump at Thermax counter
Liberty Shoes, Financial Technologies (India), Hercules Hoists and Zandu Realty are among the other stocks to see a surge in volumes on BSE today, 31 May 2012.
Thermax clocked volume of 1.52 lakh shares by 13:18 IST on BSE, a 44.03-times surge over two-week average daily volume of 3,000 shares. The stock lost 0.67% to Rs 443.
Liberty Shoes notched up volume of 6.50 lakh shares, a 11.74-fold rise over two-week average daily volume of 55,000 shares. The stock jumped 13.2% to Rs 104.20.
Financial Technologies (India) clocked volume of 1.14 lakh shares, a 3.11-fold rise over two-week average daily volume of 37,000 shares. The stock surged 3.9% to Rs 601.40.
Hercules Hoists clocked volume of 3.02 lakh shares, a 3.1-fold surge over two-week average daily volume of 97,000 shares. The stock fell 1.75% to Rs 274.50.
Zandu Realty clocked volume of 52,000 shares, a 3.07-fold rise over two-week average daily volume of 17,000 shares. The stock jumped 7.25% to Rs 1,719.70.
Note : Data From Capital Market And Money Control !
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