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Market Report

Friday, 14-Dec-2012

NSE

  • Snapping a five-day long decline, Sensex, the 30-share index gained 87.99 points, or +0.46 per cent, to close at 19317.25 today. The broad-based National Stock Exchange index Nifty rose by 28.10 points, or +0.48 per cent, to end the day at 5879.60 today.

  • The market today recovered towards closing on rising investors confidence after wholesale inflation eased, raising hopes of an interest rate cut next week. Sentiments were further bolstered as Finance Minister P Chidambaram said some more steps will be taken in next few weeks to turn around the economy.

  • Stocks in rate-sensitive sectors such as banks and real estate are leading the gains on rising hopes the RBI will move towards easing interest rates starting early next year. Experts don't think the RBI will be in a position to reduce policy rates on Dec 18. But the probability of a rate reduction in the month of January has now gone up.

  • Asian shares ended the last day of week on a mixed note as robust China's manufacturing data raised hopes of growth recovery in world's second-biggest economy, however, looming fiscal cliff concerns in US pushed investors to book profits. European shares witnessed profit booking after a firm start on the back of upbeat manufacturing data from China.

  • The government's action on pending economic reforms and the Reserve Bank of India's policy review next week are likely to dictate the directions for the India markets. The markets are likely to move in a range ahead of the RBI's rate review on Tuesday. Most analysts expect the central bank to leave interest rates on hold and say that the RBI could instead cut the cash reserve ratio.

  • Keep buying stocks but on dips, says Mitesh Thacker. Overall, it is a good week, buy around 5850 or in case we dip to about 5800 or just below that, he adds.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)