Sensex snaps 3-day winning streak, rupee recovers & other stories

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	Dated:16 July,2013

Top Headlines Sensex snaps 3-day winning streak; lenders slump on RBI steps Sensex fell by over 183 pts pulled down by banking and financial sector stocks after RBI's steps to quell rupee's volatility sparked concerns of rate hikes. Brokerages see downside risks to India's GDP growth forecast According to Sonal Verma, Economist, Nomura, the RBI measures announced are a classic textbook response to a weakening currency. Vontobel's $9 bn EM fund bullish on ITC, HUL & HDFC, shuns China A $9 billion emerging markets fund run by Vontobel Asset Management has a quarter of its money in a handful of Indian stocks. Views on Stocks/Markets Expect bank, capital goods to underperform: Analyst Stock Buzz: Eveready Inds can be a turnaround stock Infosys, other IT stocks to come off 5%-7%: Analyst IPO/Global Markets European mkts drift lower World stocks down FTSE at 1-1/2 month high Rupee / Gold Gold down by Rs 260 Rupee recovers by 58 paise Re may trade in 58-61 range More 'Market' News Banks' borrowing costs likely to go up in short term: StanChart The effective borrowing costs for banks will go up after RBI measures and they may transmit the higher deposit and lending rates as well. RBI's action will remove Rs 300 billion in cash, says HSBC HSBC estimates RBI's action to raise short-term interest rates and conduct a bond sale on July 18 will squeeze out Rs 300 bn in liquidity. RBI has to stabilise Re to protect economy from risks: Birla Sun Life "Equity markets have reacted because of the fact that, one, interest rates will go up and, two, this sort of increase in interest rates would impact growth."	Market Round-up SENSEX 19851.23 -183.25 NIFTY 5955.25 -75.55 S&P500 1,679.89 -2.61 NASDAQ 3,605.68 -1.81 USD/INR 59.8754 -.09 NSE Gainers Scrip Price(Rs.) %Change Todays Writing Instrument 10.65 + 660.71 First Winner Industries L 30.30 + 450.91 Almondz Global Securities 26.90 + 214.62 Parrys Sugar Industries L 52.10 + 160.50 Melstar Information Techn 6.80 + 147.27 NSE Losers Scrip Price(Rs.) %Change Celebrity Fashions Ltd. 2.50 -69.33 Bodhtree Consulting Ltd. 16.25 -52.90 IMP Powers Ltd. 26.50 -33.50 Shilpa Medicare Ltd. 188.20 -32.64 TCI Finance Ltd. 23.30 -31.47

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