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Thread: Markets end on a sluggish note
05-12-2012, 09:07 PM #1
Markets end on a sluggish noteThe stock markets ended the week on sluggish note. Fear of a de-growth dragged the equity indices to a near four-month low on Friday after the announcement of index of industrial production (IIP) March numbers.
The Bombay Stock Exchange 30-share sensitive index, Sensex ended at 16292.98, down by 127.07 points.
On the National Stock Exchange, the 50-share Nifty closed at 4928.90 down by 36.80 points.
Rupee ends lower
The rupee, too, closed lower against the dollar at 53.63/64 on Friday compared to Thursday's closing of 53.43/44. However, traders said that the RBI's measures on Thursday arrested a ‘sharp fall' in rupee.
“The weaker-than-expected IIP number for March had an impact on the markets on Friday,” said Dipen Shah, Head of Fundamental Research, Kotak Securities.
“The significant fall in the IIP growth for the month of March was unanticipated and points to a much gloomy industrial productivity scenario, said Arun Singh, Senior Economist, Dun & Bradstreet India....being a human...