Monday market definitely down because of petrol hike
It was a flat week for the Indian market, also the week of F&O expiry, and the market traded quiet and muted for most part. Global cues were weak and eurozone concerns weighed down on our market too. This week's performance was average and the numbers are: Sensex and Nifty closed flat. CNX Midcap index was up 0.8%, BSE Smallcap index up 1.5% over the week. BSE Realty index up 2%, BSE CD index up 3.2%, BSE FMCG index up 2.8%, BSE IT index down 1.7% and BSE Oil & Gas index up 3%.
New Delhi: Petrol and diesel will cost up to Rs 3.50 per litre more, households will have to pay an additional Rs 35 per cylinder and poor man's cooking medium kerosene will be dearer by Rs 3 a litre from today, the government has said.
The government's move to hike fuel prices will stoke inflation with monthly wholesale price index expected to rise by 0.9 percentage points in the short term, India's chief economic adviser Kaushik Basu said on Friday.
Nifty witnessed yet another correction from the higher levels, as we kmentioned in our previous reports that one could go for sell on rise until it close above 5400 for the targets of 5250 & 5200. Now in the next week we could expect some more correction in it. In the downside 5200 would be a key support. Closing below this support could make it slip till the lower levels of 5115 to 5120 in short term. The short term resistance zone could now be seen close to the levels of 5345 to 5350. Stock futures tips, stock options tips, Stock tips, Nifty future, nifty futures , nifty futures for tomorrow, stock future, stock options, options tips, futures tips.
