Indian Markets close the week on a weak note - Geojit BNP Paribas

On Friday the markets closed with a weak note as the RBI policy didn't gave any major surprise. Nifty closed at 5944 down around 55 points and the market breath changed to negative from positive as there were 1027 stocks advancing against 1339 stocks declining.

Friday the sectoral gainers were the Metal and the Capital goods sectors which closed up around 5.71% and 3.42% respectively. The stock gainers were Jindal steel and Hindalco which closed up around 3.8% and 2.34% respectively.

Capital goods stocks rose on renewed buying. Metal stocks were also trading higher.

Reserve Bank of India in its policy meet announced a repo rate by 25 basis points to 7.25%. The Reverse repo rate was adjusted to 6.25% and the CRR was left unchanged.

The FIIs were buyers on Thursday 02 May 2013, bought shares worth Rs 1429.94 crore as per the provisional data from the stock exchanges. On the other hand the DIIs were sellers on 02 May 2013, sold shares worth RS 899.07 crore as per the provisional data from the stock exchanges.

In the global front, the European stocks were little changed ahead of the US jobs report. The US index futures were also trading lower.

Adani Ports, Adani power, GE Shipping, Fedders Llyod and Jayshree Tea are the major earnings that may come out on Monday. Also Chinese trade and inflation data are the key triggers for the coming week.

Source : Equity Bulls

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