Money Tree

The weekly inflation numbers are out and the inflation has come down to 4.28 percent for the week ended on 9th June 2007 as against 4.80 percent for the previous week. This has been better than the market expectations of 4.43 percent.

Yen depreciates further against dollor, moves near 124 mark

Yen has been depreciating against dollor and today the dollor has moved upto 123.97 yens today till 12.40 p.m. The Japnese currency is depreciating primarily due to high yen carry trade and as per experts it might fall up to 127 mark during this year.

Markets flat, Reliance Industries down

After opening flat in the morning, the markets are not going anywhere they are still flat moving in a narrow range. At 12.40 p.m. NIFTY is at 4261.05 down almost 6 points and Sensex is at 14502 up 3 points and the advance decline ratio is positive with 611 advancing stocks to 459 declining.

Pullers and draggers of NIFTY

The major contributors in dragging the NIFTY down are Reliance Industries down 1.5 percent at Rs. 1706, SAIL down 1.75 percent at Rs. 133, Gujrat Ambuja Cement down 2.7 percent at Rs. 116 and BHEL down more than 2 percent at Rs. 1452. The power sector is helping the NIFTY to recover losses with Suzlon Energy up 1 percent at Rs. 1390 and Reliance Energy up more than 3 percent at Rs. 578.