MARKET SUMMARY FOR 14 JULY 2015

Sensex declined 29 points to 27932 and the Nifty slipped 6 points to 8454. However, the broader markets outperformed benchmarks with the Midcap and Smallcap indices rising marginally. About 1560 shares advanced against 1281 shares declined on the Bombay Stock Exchange.It was a day of consolidation the benchmark indices closing in red Tuesday after rising more than a percent in previous session on Greece bailout package. Banking & financials, metals and select oil stocks pulled the market down whereas healthcare stocks supported. Benchmark share indices ended flat with a negative bias with financials leading the decline after rising consumer price inflation dampened hopes of a rate-cut by the Reserve Bank of India.However, the downside was capped after Wholesale Price Index (WPI) eased further in the month of June.he index posted a great rally following the done deal with Greece and its European creditors or bail out givers. Markets all over cheered on this and we saw sharp rallies all over.

The Consumer Price Index (CPI) data, which was released post market hours on Monday, revealed that the inflation for the month of June rose to a nine-month high to 5.40%. This shot in the retail prices is food driven, which increased to 5.48% from 4.8% in May.

The Wholesale Price Index (WPI) fell to -2.4% in June, continuing its deflationary mode, led by downward fuel prices and lower commodity prices. This is the eighth staight decline.
The Index of Industrial Production (IIP) numbers for the month of May, released on Friday, showed a slowdown in the industrial activity weighed by manufacturing sector. The IIP for the month of May was 2.7%
SECTORS & STOCKS

Sectorally, Auto index ended down by 0.9%, Pharma and  IT indices ended with higher between 0.6-0.9% each.The rising CPI numbers, which could put hold on the easing of monetary policy by the RBI, have put pressure on rate sensitive stocks. Among the banking shares, SBI lost 1.8% while HDFC twins and ICICI bank dropped between 0.3-0.7%.
Tata Motors plunged over 4% as its luxury arm- Jaguar land Rover (JLR) reduced its sales in China on concerns of a slowdown in the Chinese economy.Index heavyweight ITC finished lower by 0.8% on the back of an increase in the inflation numbers.HUL shares however finished with 1.9% gains.The fall in the crude prices led to a surge in the public sector oil marketing companies.  HPCL, BPCL, IOC gained between 2-3% while index heavyweight Reliance Industries and ONGC slipped 1% and 0.4% respectively.Dr Reddy’s Laboratories gained 0.5% after the drug manufacturer announced the launch of Memantine hydrochloride tablets of 5 mg and 10 mg.