Mumbai: With the revision of India's FY12 GDP growth to 6.2 per cent from 6.5 per cent, the stage is set for a reality check. The government has also pegged FY12 gross domestic savings at 30.8 per cent, down from 34 per cent earlier. However, FY 11 GDP had produced better results than initially thought. The revised number for FY11 stands at 9.3 per cent from 8.4 per cent estimated earlier.
The markets meanwhile have not reacted to this news and remained devoid of action on the expiry day. At 11.27 AM, the Sensex fell 40 points at 19965.97, and the Nifty was down 6.20 points at 6049.55. Experts say volatility will be towrds the downside rather than upside. Experts say rollovers are good on oil and gas stocks. Individually, Tata Steel and Cipla are seeing rollovers on the long side.
ICICI Bank continues to trdae down ahead of its result. Other banking stocks like SBI, HDFC Bank, Axis Bank and HDFC were all trading with marginal cuts. Bank Nifty was trading with a cut of less than a per cent.
In the midcaps, Jet airways was trading up 1.9 per cent on news that Jet Board may finalise Etihad deal on Friday. Sources say the deal is likely to take place between Rs 750 and Rs 800 per share. Godrej Consumer products fell over 1.9 per cent after it announced its numbers in the late morning trade.
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