Home / Market Beat / China can’t grow faster in 2012. Tepid start for Sensex. Anil Ambani stocks move up.

China can’t grow faster in 2012. Tepid start for Sensex. Anil Ambani stocks move up.

china economy

china economy

Markets have been trading cautious, with Sensex losing ground, as the frontline stocks trade in the red territory. The Asian markets have also seen weak trades, in the backdrop of China cutting its growth targets. The Chinese Prime minister announced that the growth target of China for the year 2012, will be 7.5% as against the 8% goal, and ascertained that the stability will be key challenge to be addressed. “We aim to promote steady and robust economic development, keep prices stable, and guard against financial risks by keeping the total money and credit supply at an appropriate level, and taking a cautious and flexible approach,” the Chinese Prime minister was quoted saying in his annual work report to the National People’s Congress (NPC).

Back home, the Indian markets are trading weak influenced by many factors. Most of the traders are cautious, as they keep a keen eye on the UP election results.

The Nifty at 10:17AM, is down by 57 pts or -1% to trade at 5302.

However, ADAG stocks are all on the rise. Reliance Infra has shot up by over 6% and is trading at 659. RCOM is up by 1.6%. Reliance Capital has seen a surge of 2.2%.

Capital goods & Infrastructure stocks have been the worst hit in the trade. JP Associates is down by6 4.8%. Punj lloyd is down by 2.2%. L&T has also come back to 1269, with 2.2% cuts.

Metal stocks have also taken some beating. Hindalco is down by 3.3%. Tata steel is down by 1.3%. SAIL is down by 2.2%. Jindal steel is down by 3%. Sterlite is down by 2%.

Hero motors is also down by 2%.

The Bank Nifty index is down by over 1.8%. ICICI Bank has lost 2%, while SBI is down by 1.7%.



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