Market
sustained above 6000 mark. Nifty closed at 6029.20 gained 160 points. Sensex
closed on two month high at 20149.85.
Event
week market closed on higher level nifty sustained above 6000 mark on Friday. Whole
sale price index increased marginally to 4.86% in June compared to 4.7% during
the previous month. The inflation stood at 7.58% during the same month last year.
the rate of inflation of food articles, which has 14.34% jumped to 9.74% in June compared to 8.25% in may. RBI (reserve
bank of India) hike lending rates to commercial banks by 2 percent to 10.25
percent.rbi has capped borrowing through the liquidity adjustment facility (LAF)
at 75000 crore, raised the marginal standing facility rate to 10.25 percent and
announced the sale of rs. 12000 crore worth of government securities.RBI has
also increased the marginal standing facility (MSF) rate to 10.25 percent from
8.25 percent. Reliance industry quarter first net profit up 19 percent
.refining revenue of the company is at rs.81458 crore versus Rs 77872
crores.tcs software major profit grew by about $ 668 million. Rupee
strengthened closed at 59.35 per dollar up by 0.55 .since January the rupee has
weakened 7.89% .on the global front France’s cap was down by 0.43%, Germany’s
dax was down by 0.42%, Britain fest was down by 0.41%.
This
week nifty is getting in to the range of 6110-5840 near term support of 5750.
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