Dalal Street mainly mirrored the gloominess spread across the globe , despite of weekly food inflation moderating to 9.03% for the week ended August 6, from 9.90% in the previous week, investor’s failed to drew any sense of comfort as the fears of RBI continuing with its anti inflationary stance in its upcoming monetary policy review continued to haunt investors, also political jitters also kept investor’s on the bay as there was couple of reports stating the Indian activist Anna Hazare would launch public fast. Added to this reports from brokerage firm-Morgan Stanley too weighed on Indian equity markets sentiments as it stated that the global economy is 'dangerously close to a recession'. The brokerage firm not only slashed its global gross domestic product growth forecast to 3.9 percent from 4.2 percent for 2011, and to 3.8 percent from 4.5 percent in 2012, citing recent policy errors in the US and Europe and the prospect of further fiscal tightening in 2012. But it also slashed India GDP forecast from 7.4% to 7.2% for FY12.
BSE Sensex lost 371.61 points and closed at 16,469.79, Nifty lost 112.45 and closed at 4,944.15.
Dhanus Technologies Ltd : Theres no stopping for Dhanus Technologies upwards journey, the scrip today also gained around 3%, even in this of bearish market conditions the scrip is gaining nicely. Today the Board of Directors of the Company approved to Issue Bonus Shares in ratio of 12 Equity Shares for every 5 Equity shares held as on the record date.
XXXXX XXXXXX: Our value pick which was recommended in first week of the August for gains of almost 100% returns with in medieum term, today locked at upper circuit, The value pick which can be brought at all declines gained from Rs.44 to 50 Rs.
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