Sensex declined
29 points to 27932 and the Nifty slipped 6 points to 8454. However, the broader
markets outperformed benchmarks with the Midcap and Smallcap indices rising
marginally. About 1560 shares advanced against 1281 shares declined on the
Bombay Stock Exchange.It was a day of consolidation the benchmark
indices closing in red Tuesday after rising more than a percent in previous
session on Greece bailout package. Banking & financials, metals and select
oil stocks pulled the market down whereas healthcare stocks supported. Benchmark share indices ended flat with a negative bias with financials
leading the decline after rising consumer price inflation dampened hopes of a
rate-cut by the Reserve Bank of India.However, the downside was capped
after Wholesale Price Index (WPI) eased further in the month of June.he index posted a great
rally following the done deal with Greece and its European creditors or bail
out givers. Markets all over cheered on this and we saw sharp rallies all over.
The Consumer Price Index (CPI) data, which was released post market
hours on Monday, revealed that the inflation for the month of June rose to a
nine-month high to 5.40%. This shot in the retail prices is food driven, which
increased to 5.48% from 4.8% in May.
The Wholesale Price Index (WPI) fell to -2.4% in
June, continuing its deflationary mode, led by downward fuel prices and lower
commodity prices. This is the eighth staight decline.
The Index of Industrial Production (IIP) numbers
for the month of May, released on Friday, showed a slowdown in the industrial
activity weighed by manufacturing sector. The IIP for the month of May was 2.7%
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