• Negativity hits market post last week’s mild recovery as market breadth takes a dive on the first trading session of the week: On BSE, 1688 shares declined and 1001 shares gained.
• More bad news for finance minister: Divestment candidates once again hammered; Government plans to divest 5 – 10 percent in companies like Hindustan copper (1.68 percent), Engineers India (0.11 percent), MMTC (1.76 percent), and BHEL (1.92 percent) led these stocks to end the day in red.
• Back to June 6 levels for Bank Nifty Index thanks to RBI’s status quo move: No rate cut led to 3.13 per cent fall in Bank Nifty and it closed below 9750 levels. Poor NPA management might turn the sentiment further bearish.
• RBI action, however, did not dampen all the action @ Sensex. It was a voluminous day as the total turnover on BSE and NSE amounted to Rs 2.31 lakh crore in comparison to last week’s average of Rs 1.45 lakh crore.
• Cut or no cut, HUL stock is good to beat its own past best performance: Chasing the dream run, HUL hit new 52 week high once again; Stock touched the levels of 453.30 intraday. However, market mayhem forced it to pare its gain and stock closed at 445.85 levels.
First Published: Monday, June 18, 2012, 18:39