Post Market Summary - Apr 22 2010

Benchmark indices closed with gains of about half a percent after sharp intraday swings. Sensex gained 101 points to close at 17573 while Nifty ended at 5269, up 24 points. Broader market however, underperformed today, as depicted by BSE Mid-cap and Small-cap indices which came off from the higher levels to end almost flat. Turnover shot up to Rs. 1.67 lakh crore versus Rs. 8820 cr. yesterday. Food inflation for the week ended April 10 came in at 17.65% versus 17.22% for the previous week. Fuel price index rose 12.45% as against 12.43% while Primary article inflation stood at 14.44% versus 13.88%. Banking giant SBI shot up more than 5% on the back of reports that RBI may give some banks more time to meet the 70% provision coverage ratio which they are scheduled to achieve by September 2010. Heavyweight Reliance gained nearly 2% ahead of its quarterly results due tomorrow. European markets were down about a percent as worries about Greek debt persisted. US stock indices futures were lower by about half a percent ahead of data on Producer Price Index, Existing home sales and Jobless claim.



BSE Realty and Metal indices were the top losers among the sectoral indices, shedding 1.3% and 0.6% respectively while Oil & Gas and Auto indices gained 1.2% and 0.9% respectively. SBI and SAIL were the top gainers among the Nifty stocks, putting on 5.2% and 3% respectively while Tata Steel and Sun Pharma lost the most, down 2.5% and 2.4% respectively. BSE advance-decline ratio stood at 1.1:1.