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Market Report

Friday, 21-Dec-2012

NSE

  • Sensex, the benchmark BSE index, fell -1.09 per cent, or 211.92 points, to end at 19242.00, marking its biggest single-day per centage fall since Oct 30, and ending 0.39 per cent lower for the week. Nifty, the broader NSE index, shed -1.16 per cent, or 68.70 points, to end at 5847.70, closing below the psychologically key 5900 level, also ending down 0.54 per cent for the week.

  • Markets ended lower today, marking a second week of declines, as lenders were hit by profit-taking. The market also tracked weak global shares after a Republican proposal to deal with a US fiscal crunch failed to get enough support. Asian shares slid today and European shares opened lower on concerns that solutions to the US 'fiscal cliff' could possibly take longer-than-expected.

  • Back home, foreign direct investment (FDI) inflows into India jumped 67% in October to $1.94 billion, a government statement said on Friday, but inflows for the current financial year were still down.

  • Markets are expected to remain volatile next week amid uncertainty around the US "fiscal cliff" and as markets head into the last derivatives expiry of 2012 on Thursday.

  • Market came down 15 points from where it opened, reasons Ashwani Gujral. The market gapped down. So when it turns and when it turns sharply, it will be difficult to get out of short positions, he explains.

  • Best for Indian markets yet to come, said Rakesh Jhunjhunwala. Stating that markets have 'gone nowhere' in the last three-four years, Jhunjhunwala said that they may break-out from their trading range next year.

  • Difficult for Nifty to touch 6000 by year-end, says Nipun Mehta of Blue Ocean Capital Advisors. We believe that before the year-end, it could be difficult, while in 2013, it looks to be very obvious. Not just 6000, but higher marks would be reached, but you are likely to see these phases of consolidation in the market, he explains.

NIFTY 3-Month

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