The market closed @ 5484 (down 80) and sensex @ 18345 (down 240).
Apparently the market for some strange reason was not impressed with the IPP (indl prodn ) of 7.3% for march 2011.
This was way higher than the analyst estimates of 3.7%. .
As soon as the figures were announced - the market after a slight knee jerk to 18600 - fell steadily to 18345.
The food inflation for April was also lower - @ 7.7 Vs 8.53% WoW - and the fall in crude prices to below $ 100 also did not have any effect.
As usual the weak global cues were cited as the reason for the fall . Oh yeah!
Any way - tomorrow the election results for TN/Kerala/WB and Assam will be announced and tomorrow being end of week AND Friday 13th - lets hope the market does not test the 5350 levels.
A good day to go on a long week end and forget the market.
Apparently the market for some strange reason was not impressed with the IPP (indl prodn ) of 7.3% for march 2011.
This was way higher than the analyst estimates of 3.7%. .
As soon as the figures were announced - the market after a slight knee jerk to 18600 - fell steadily to 18345.
The food inflation for April was also lower - @ 7.7 Vs 8.53% WoW - and the fall in crude prices to below $ 100 also did not have any effect.
As usual the weak global cues were cited as the reason for the fall . Oh yeah!
Any way - tomorrow the election results for TN/Kerala/WB and Assam will be announced and tomorrow being end of week AND Friday 13th - lets hope the market does not test the 5350 levels.
A good day to go on a long week end and forget the market.
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