Sensex loses over 2% this week; Metal, Realty, CG hit most
Indian markets ended this week on a dismal note with indices dropping over 2% on the back of weak global cues. Though higher-than-expected, GDP growth data pegged at 5.5% failed to impress the general market sentiment.
Investors are awaiting for U.S. Federal Reserve Chairman Ben S. Bernanke`s speech. On sectoral front, BSE Metal, Realty and Capital goods plunged the most.
The 30-share index, Sensex plunged 402.46 points, or 2.26% to 17,380.75 for the week ended Aug. 31, 2012.
On the other hand, the broad based NSE Nifty dropped 128.20 points, or 2.38%, to 5,258.5 during the week.
Stocks to watch today for trading
Nifty and Sensex are expected to open in green
Indian markets are likely to react positively after an expert committee on General Anti Avoidance Rules (GAAR) has recommended postponement of the controversial tax provision by three years.
The Indian markets are likely to remain volatile this week. Automobile and cement stocks will be focus as companies from these two sector start unveiling monthly sales volume data for August 2012.
On Friday, US stocks ended higher after Federal Reserve Chairman Ben Bernanke, said the central bank was prepared to take further steps to revive growth in the economy.
JSW Steel Ltd
JSW Steel Ltd, after the company announced merger of JSW Ispat with itself to create the second largest domestic producer with an annual production capacity of 14.3 million tonnes.
Tata Motors Ltd
Tata Motors Ltd, In a separate report, Tata Motors said its sales of passenger vehicles for August, 2012 were at 22,311 units, higher by 33 per cent over 16,829 units in August last year.
Mahindra & Mahindra Ltd
Mahindra & Mahindra Ltd, after the company reported a healthy 19.77 per cent jump in domestic sales at 42,826 units during the month against 35,756 units in August, 2011.
Maruti Suzuki India Ltd
Maruti Suzuki India Ltd, after domestic sales in August this year stood at 50,129 units, compared to 77,086 units in the same month last year, down 35 per cent.
TV 18 Broadcast Ltd
TV 18 Broadcast Ltd, after the company said the capital issues committee of its board has approved a price of Rs 20 per share for its rights issue.
Rashtriya Chemicals and Fertilizers Ltd
Rashtriya Chemicals and Fertilizers Ltd, after the state-run firm is considering a possible $1 billion investment in Canadian potash mines to secure long-term supply of the soil nutrient, the company’s chairman said.
Hero Motocorp Ltd
Hero Motocorp Ltd, after the country’s largest two-wheeler maker Hero MotoCorp today reported a dip of 11.88 per cent in sales at 4,43,801 units in August. The company had sold 5,03,654 units in August, 2011, Hero MotoCorp said in a statement.
TVS Motor Ltd
TVS Motor Ltd, after the two-wheeler major reported 20.6 per cent dip in sales at 1,54,647 units in August. The city-based company had sold 1,94,898 units during the same month last year.
McNally Bharat Engineering
McNally Bharat Engineering Co Ltd (MBECL), after the company has acquired control of Hayward Tyler, a