==>> Inflation at 11.98%

Inflation have almost reached 12%. Inflation for the week was 11.98% as compared to 11.89% in the previous week. Many traders choosed to trade cautiously ahead of the release ok key inflation and the second quarter US Economy numbers. ICICI and HDFC Bank announced a hike in their prime lending rates, which wille be effective from friday. The US economy grew at 1.9% in the second quarter.

Our markets traded in the negative zone for most of the day on Thrusday. Nifty closed at 4332.95 after making a low of 4285.55 and Sensex at 14355.75. Nifty will face resistance at 4375 levels. Fresh short Built have been seen in many Banking stocks, Cement Sector.