Indian Markets end last trading of week in red - Eastern Financiers

Markets ended the last trading day of the week in red as investor sentiment turned negative after RBI clearly stated in its Annual Policy statement that the rooms for further rate cuts remain limited. The Nifty closed at 5944.00, down 55.35 points or 0.92 percent and the Sensex shut shop at 19575.64, down 160.13 points or 0.81 percent.

The Reserve Bank of India in its Annual Monetary Policy for FY14, cut the Repo rate by 25 BPS to 7.25 percent, its lowest since May 2011, and kept the cash reserve ratio (CRR) for banks unchanged at 4 percent, in line with expectations.

Global rating agency Moody's has said that India's sovereign outlook is stable and does not warrant any action on the country's credit rating in the next 12-18 months.

Indian companies raised nearly Rs 31,000 crore from the public issuance of equity and debt in FY13, a slump of 36% from the preceding year. A total of Rs 30,859 crore worth of fresh capital were mopped-up from equity and debt market during FY13, which was way below than Rs 48,468 crore garnered in FY12.

Open offers made by listed companies to buy shares from public plunged 37% to more than Rs 12,000 crore in the financial year 2012-13. A total of 79 open offers for shares worth Rs 12,159 crore were made by the companies in the last fiscal year. In comparison, 71 offers amounting to Rs 19,305 crore were made in the fiscal 2011-12.

Source : Equity Bulls

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