The yesterday Nifty opened lower reacting to the S&P downgrade of EU nations. Nifty futures had hit a low of 4,835.25 in the morning session and it was seen trading off the lows after the announcement of inflation data for the month of December. It had hit a high of 4,899.70 in the noon session as market participants expected some kind of monetary easing from the RBI in its first policy meet of the year 2012 on Jan 24th. WPI inflation for the month of December 2011 came at 7.47% which is considerably lesser than the 9.11% for the same period a year ago 2011.
The Index heavy weights INFY and TCS were up by around 2% as TCS is set to announce its quarterly results today. SBI was up by around 3% as the Bank's chairman confirmed yesterday that the Government is set to infuse Rs.6000-8000 crores into the bank by March 31st and the infusion will be done through preferential allotment of equity by the bank to the Government. In another news, SBI is expected to raise the interest on its car loans by half a percent from today.
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