India markets ended down almost 1% in today’s trading session. Weak rupee weighed on the markets today. The Indian rupee touched fresh four-month low of 53.45. Large trade deficit, current account deficit and continuing significantly large gold imports kept rupee under pressure in recent past. RBI guidelines regarding Basel III regulations weighed on bank stocks today. Heavy selling pressure is seen in Hero MotoCorp today. The stock ended down 7.69% on the back of its less than expected Q4 FY12 result. Buying interest is observed in sugar stocks today as the government placed the sugar under the open general license category & removed the cap on sugar exports.
Friday, May 4, 2012
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