Market Outlook for the day – Broadly, Nifty has immediate support between 7330-7380 spot levels so one can initiate fresh long positions around that zone for technical rebound.
Shriram Transport Finance Corporation (STFC), one of the country’s largest asset finance company with AUM of Rs 53,000 crore, expects 12-15 per cent growth in the second half of the current financial year.
The government has slapped an additional penalty of $579 million on Reliance Industries for producing less than targeted natural gas from its KG-D6 block.
After rising to a five-month high in May, WPI inflation dipped to 5.43 per cent in June mainly on account of a decline in the prices of food items and vegetables with the exception of potato and onion. It was at 5.16 per cent a year ago in June 2013.
The Sensex and the Nifty ended the session marginally in the red in a volatile trading session. Dip in WPI inflation to 5.43 per cent in June failed to enthuse the investor sentiment. Among BSE sectoral indices, consumer durables, IT and TECk indices fell by 2.24 per cent, 1.27 per cent and 0.99 per cent, respectively. On the other hand, capital goods, auto, metal and power indices remained investors' favourite and were up 1.14 per cent, 0.99 per cent, 0.97 per cent and 0.76 per cent, respectively. The market breadth, indicating the overall health of the market, was negative.