HDFC Bank, HCL Tech earnings fail to keep Nifty above 5300
18 Apr 2012
Positive cues from European markets failed to cheer Indian equities, which ended almost where they started trade from.
The mood was dampened by the Indian consumer inflation, which rose 9.47% in the year to March, faster than the previous month's reading of 8.83%, government data showed on Wednesday.
Auto stocks were on buyer's radar today on hopes of slash in car loans rate to boost domestic auto sales. Realty and banks ended in red.
CLSA cut its target for the BSE Sensex to 19,000 from 20,000, citing risks such as the widening current account and fiscal deficits, as well as the uncertainty over foreign taxation.
Monsoon and Impact on Economy
India's monsoon rains are likely to be within long-term averages in 2012, the weather office head said on Monday, reassuring farmers ahead of next week's official forecast from New Delhi.
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