The key benchmark equity indices continue to hover near the neutral line, though with negative bias in trade, at this point of time, due to lack of buying conviction amongst investors on concerns of inflationary pressure. On the global front, other key Asian markets were trading in the green and the US index futures too were trading in the positive territory. Back home, oil & gas, PSU, automobile, healthcare and banking stocks are mostly down in negative territory; while information technology, capital goods and FMCG stocks are finding reasonably good support. Broader markets continued to trade in the red at this point of time; the BSE Mid cap and Small cap indices lost 0.37% and 0.17%, respectively. The market breadth on the BSE was in favour of declines in the ratio of 1336:997 while 124 scrips remained unchanged.
The BSE Sensex dipped 16.32 points or 0.09% at 18,121.03. The index has touched a high of 18,218.20 and a low of 18,086.15, respectively.
The BSE Mid cap and Small cap indices lost 0.37% and 0.17%, respectively.
The top losers in the BSE sectoral space were Oil & Gas down 1.40%, PSU down 1.31%, Auto down 0.98%, Healthcare (HC) down 0.87% and Bankex down 0.60%.
On the flip side, IT up 0.89%, TECk up 0.63%, Capital Goods (CG) up 0.53% and FMCG up 0.37% were the only gainers in the BSE sectoral space.
The top gainers of the Sensex were Wipro up 2.37%, Hero Honda up 1.69%, HDFC up 1.42%, Hindalco Inds up 1.42% and TCS up 1.18%.
On the flip side, Tata Motors down 3.19%, Rel Infra down 2.31%, SBI down 1.72%, RIL down 1.65% and JP Associates down 1.27% were the major losers on the index.
Meanwhile, the Ministry of Finance is planning to set guidelines on the Infrastructure Debt Fund by end of this June. This Infra Debt fund will help to finance the core sector to sustain high economic growth. The Infra Debt Funds are planned to be structured either as a trust or a company, depending upon the nature they would be regulated either by RBI or SEBI.
Department of Economic Affairs' secretary is scheduled to meet all the stakeholders including the central bank RBI, market regulator SEBI and insurance sector watchdog IDRA to discuss the guidelines and the Capital Adequacy Ratio for the companies to be helped also the exposure limits. Matters connecting to regulators, possible debt seekers, and credit rating may also come up in the meeting.
The ministry of finance is of the view that instead of an owned funds for the infra investment, it should be pooled funds, as discussed in internal meeting. Since both companies and trust might be allowed in this space, they would issue bonds and units accordingly & SEBI can regulate companies and RBI can regulate trust.
In this year's union budget, Finance Minister Pranab Mukherjee had announced setting up the funds through special purpose vehicles for attracting foreign investment in the infrastructure sector. In his Budget speech FM said "To attract foreign funds for financing of infrastructure, I propose to create special vehicles in the form of notified infrastructure debt funds,"
Recently, planning commission deputy chief, Montek Singh Ahluwalia had said, "India needs $1 trillion investment in infrastructure creation to continue to grow at 9% over the next five year".
The Finance Ministry and Planning Commission is planning to invest $1trillion in creation of ports, highways, power utilities and telecom infrastructure in next Five Year Plan starting from 2013. An inclusive policy framework for PPP in building Physical infra and social sectors such as health and education is on the list. It will place guidelines for the entry of private players and implementation of infrastructure projects.
The S&P CNX Nifty slipped 10.85 points or 0.20% at 5428.10. The index has touched a high and a low of 5460.50 and 5420.50, respectively.
The top gainers of the Nifty were Wipro up 2.62%, Hindalco Inds up 1.65%, Hero Honda up 1.46%, TCS up 1.43% and HDFC up 1.33%.
On the flip side, Tata Motors down 3.14%, SAIL down 2.48%, BPCL down 2.43%, Rel Infra down 2.32% and SBI down 1.98% were the major losers on the index.
Rest of the Asian markets were trading in the green. Shanghai Composite jumped 0.67%, Hang Seng climbed 0.58%, Jakarta Composite soared 0.81%, KLSE Composite gained 0.22%, Nikkei 225 surged 1.23%, Straits Times advanced 0.25%, Seoul Composite zoomed 1.61% and Taiwan Weighted added 0.68%
Unit-8, 3rd Floor, First Mall, The Mall, Ludhiana-141001, Punjab (INDIA).
| To unsubscribe or change subscriber options visit: http://www.aweber.com/z/r/?TJzsLEwstCyc7OysHMyctEa0nJwMDBwcTA==  |
Posts
0 comments:
Post a Comment
Note: only a member of this blog may post a comment.