20th
June
2008
Inflation @ 11:05%
posted in News |
The markets have taken huge beating after inflation numbers, which stood at 11.05% for the week ended June 7 as against 8.75% in earlier week. It is at 13-year high and the main reason was oil price hike, which happened at the end of last month.
Analysts say that we can see more action in the Repo and CRR rate. They say the RBI would come out with some measures on the rate and liquidity side much before the July policy.
At 12:00 pm, the Sensex was down 262 points at 14,825 and the Nifty down 87 points at 4,417. Huge shorts have generated for the month of July. The Nifty June Futures was trading at 29 points discount and July Futures at 41 points discount.
BSE Realty Index hammered a lot, down over 3%. Auto, FMCG, Bankex were down over 2%.
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on Friday, June 20th, 2008 at 12:48 am and is filed under News.
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