HE MARKET DECLINED LAST WEEK ON FEARS THAT THE RESERVE BANK OF INDIA (RBI) MAY NOT CUT INTEREST RATES AT ITS MID-QUARTER REVIEW OF MONETARY POLICY 2012-13 ON 19 MARCH 2013, AMID RISING RETAIL INFLATION. WEAKNESS IN GLOBAL MARKETS ALSO DENTED SENTIMEN
(prHWY.com) March 18, 2013 - Indore, India -- WEEKLY NEWS
* SEBI asks SC to allow arrest of Sahara chief Subrata Roy
Securities and Exchange Board of India (SEBI) today appealed to Supreme Court for detention of Sahara Group chairman Subrata Roy after two companies of the group failed to comply with apex court's order to refund Rs 24,000 crore to its investors. CNBC-TV18's Payaswini Upadhyay reports. SEBI has also asked the Supreme Court to detain passport of Roy and other Sahara group director
* India to have 225 billionaires by 2022, says report
India, which is at the fifth spot in global ranking with 122 dollar-billionaires in 2012, is likely to see a whopping 84 percent growth in this number with 225 billionaires by 2022, real estate consultancy Knight Frank has said in a report.Asia's third-largest economy, with 122 dollarbillionaires last year, is expected to see an 84 percent rise in this number to 225 by 2022, according to the firm's `Wealth Report 2013' released here today
* Wipro's promoter entity sells shares worth Rs 3,269 cr
A promoter entity of Wipro Ltd today offloaded over seven crore shares of the IT company to two other promoters in transactions worth Rs 3269.57 crore.As per the block deal data available with the stock exchanges, Hasham Traders sold 7.43 crore shares of Azim Premji-led Wipro, which were purchased by two other promoter entities - Prazim Traders and Zash Traders.
Market Analysis
* THE MARKET DECLINED LAST WEEK ON FEARS THAT THE RESERVE BANK OF INDIA (RBI) MAY NOT CUT INTEREST RATES AT ITS MID-QUARTER REVIEW OF MONETARY POLICY 2012-13 ON 19 MARCH 2013, AMID RISING RETAIL INFLATION. WEAKNESS IN GLOBAL MARKETS ALSO DENTED SENTIMENTS. MARKET FELL IN FOUR OUT OF FIVE TRADING SESSIONS.
* IN THE WEEK ENDED FRIDAY, 15 MARCH 2013, THE BSE SENSEX FELL 255.67 POINTS OR 1.30% TO 19,427.56.
* THE 50-UNIT CNX NIFTY FELL 73.10 POINTS OR 1.23% TO 5,872.60, ITS LOWEST CLOSING LEVEL SINCE 13 MARCH 2013.
* AMONG THE 30 SENSEX SHARES, 21 DECLINED AND THE REMAINING ROSE.
* MOTORCYCLE MAKER BAJAJ AUTO WAS THE TOP LOSER IN THE SENSEX PACK LAST WEEK. THE STOCK FELL 7.95% TO RS 1852.50. THE COMPANY ON 4 MARCH 2013 SAID ITS TOTAL SALES FELL 3% TO 3.32 LAKH UNITS IN FEBRUARY 2013 OVER FEBRUARY 2012. MOTORCYCLES SALES FELL 4% TO 2.91 LAKH UNITS FEBRUARY 2013 OVER FEBRUARY 2012. SALES OF THREE WHEELERS DECLINED 2% TO 41,090 UNITS IN FEBRUARY 2013 OVER FEBRUARY 2012.
* HERO MOTOCORP FELL 3.55% TO RS 1,681. THE COMPANY ON 1 MARCH 2013 SAID TOTAL SALES DECLINED 4.23% TO 5.01 LAKH UNITS IN FEBRUARY 2013 OVER FEBRUARY 2012.
MARKET UPDATE
* Nifty down by 74 pts and settle at 5872.60
* Bank Nifty down by 405 pts at 11816.55
Factors to watch
NIFTY
* Nifty looks Bearish
* Strategy: Sell on rise
* Support:5820
* Resistance: 5920
BANK NIFTY
* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 11750
* Resistance: 11900
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