0 Indian Stock Market Updates

The Nifty futures after a gap-up opening and trading in the green for most part of the day, snapped the session on a flat note. After touching their intraday high in the initial session barometer gauges started falling due to selling pressure after Duvvuri Subbarao commented that, Indias wholesale and consumer price inflation levels are way above the Reserve Bank of Indias comfort levels, diminishing hopes of a rate cut at the July 31 policy review.Investors also shrugged off positive global cues, Asian markets rallied on hopes that relentlessly bad data from China to the US will prompt policy makers to take some serious efforts to boost their economies. Moreover, the European shares traded firmly in early trade on report that Federal Reserve Chairman Ben Bernanke may signal more monetary stimulus in testimony to the US Congress later in the day. Although, all eyes are on the Federal Reserve chairman Ben S Bernanke, who is due to update the Congress on the state of the US economy on Tuesday as well as on Wednesday. Index heavyweight Reliance Industries turned negative, after trading in green for most part of the session, on report that RIL and its partner BP told Government of India to approve FY13 capex to avoid shutdown and warned that gas output at KG-D6 may stop by 2015.The overall volumes stood at over Rs 1.54 lakh crore while the turnover for NSE F&O segment remained on the higher side as compared to that on Monday at over Rs 1.08 lakh crore.