NIFTY OUTLOOK FOR 21st MAY 2012
TREND - BEARISH
BANK NIFTY FUTURES :
STOCK MARKET REVIEW: 18TH MAY 2012
|STOCK MARKET CALLS|
BSE Small-Cap index was down 0.24% while the BSE Mid-Cap index finished 0.27% down.CNX MIDCAP 50 index was down 0.11% and S&P CNX 500 was up around 0.53%. The SENSEX closed 82 points up at 16,152 and the NIFTY stood at 4906, up by 36 points.
BSE SENSEX and NIFTY traded red initially but recovered sharply in later trading hours as boosted up by State Bank of India, outperformed and railed up to 5 percent after its quarterly earning results. Short covering also helped the markets to go upward as it shown an intraday recovery of more than 300 points from the low. Rupee has also shown a smart recovery to 54.56 against the DOLLAR from its all time low of 54.89. India's largest lender State Bank of India presented better than expected net profit of Rs. 4050 crore for fourth quarter FY12 aided by higher interest income and lower provisioning for non-performing loans.