India Closing Report – July 16, 2012 – July 20, 2012

 

Monday Monday
Monday Monday (Photo credit: soonerpa)

The market seemd to never move throughout the 5 days of trading but is very cannily poised at the bottom with banks shaken. Yet one would like to believe that this will be a new bottom for the market because the overall correction from 5350 has been completed and tied into most fundamentals with results seasons positives. Even as analysts on the netorks are set to orrily look the nifty in the eye for the banks’ not being up anymore, I would be going into the weekend long on the banknifty at 10500 mark.

It is not a leap of faith but new positions on the banknifty on Monday may miss a good 100 points on the upside.

However back to the analysis of the week in question, it alloed one to feel remiss about India Inc and hopefully tempered expectations from Policy reform as most expected a panacea from government speak to propel further gains like on a couple of nes stops on Sibal and spectrum last week shooed in.

English: Dainik Bhaskar logo
English: Dainik Bhaskar logo (Photo credit: Wikipedia)

The week began with MCX addingequities platform licenses from the regulator and Sensex futures getting into the limelight as well. ifty currency contracts have been gaining volume in the 2012 move but as of now the currency is tick at a one feels intermediate not so lo mark of 54.9 purely for trading reasons

The Power reforms were solved adequately with Mundra expectedly left alone and SEB loans lobbed to states duly.

MCX Logo
MCX Logo (Photo credit: Wikipedia)

Germany has already approved the Spanish bank bailout and finand will complete the exercise before markets open on Monday. There are still 45 minutes of trading left as I close out the week in the report. Healthcare and Utilities standout as powerful movers for the indices and Banks and Financials dominate especially after results were compared. The IT story was finally accepted as relegated to the second rung Media scrips and businesses survived another quarter ithout groing subscription or falling Advertising revenues and making good enough big money with Dainik Bhaskar’s 43 crores and Zee News’ 158 crores. Fresh investments are due.

 

Bank Nationalisation - India - Newspaper Clipping
Bank Nationalisation – India – Newspaper Clipping (Photo credit: Wikipedia)

 

 

 

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