Nifty and Sensex weekly trend analysis for August 5, 2013 to August 9, 2013
NIFTYTrend- WeakSENSEXTrend- Weak Previous week, Indian stock markets continued sell off for the second consecutive week. Markets closed in red on all five trading days of the weak. On 30th July 2013, RBI decided to leave key rates unchanged. RBI also lowered growth forecast for the financial year to 5.5 per cent from 5.7 per cent. These along with previous actions by RBI to tighten the liquidity and the failure of that move as rupee weakens further (3.4 per cent) resulted in the under performance of markets. Realty, Power, PSU, FMCG, Metal, Oil-Gas sectors were among losers. IT sector out performed. BSE benchmark S&P Sensex opened at 19714.42, after seeing a high of 19751.03, went to a low of 19078.72 and closed at 19164.02 (584.17 points or 2.96 per cent lower).S&P CNX Nifty opened at 5869.95 went to a high of 5886 and then saw a low of 5649 before closing at 5677.90 (208.30 points or 3.54 per cent lower). Short term technical trend of the Nifty and...
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