Five lesser known points about Tuesday’s markets
The overall market breadth was positive, as 1361 shares rose while 1311 shares fell.
Rohit J Joshi/ZRG
• The overall market breadth was positive, as 1361 shares rose while 1311 shares fell.
• The BSE Capital Goods index rose 1.84 percent. This was despite poor capital goods output data seen in Index of Industrial production (IIP) numbers. IIP in April rose a dismal 0.1 percent; once again Capital goods output fell 16.3 percent in April after witnessing a contraction of 20 percent in March 2012.
• Rate sensitive stocks (Realty, Banking, and Auto) rally on the back of expectations that RBI will cut interest rates at mid-quarter monetary policy review on 18 June 2012; Except Health care sectoral index, all the other sectoral indices ended the day in green.
• Airline stocks (SpiceJet, Jet Airways, Kingfisher Airlines) gained 3-8 percent as crude slips further, and could lead to the possibility of cut in ATF prices.
• Nifty closed above 5100 levels; the last time Nifty closed above 5100 was on 7th May 2012.