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Market Report

Wednesday, 26-Dec-2012


  • The Sensex rose by 162.37 points, or +0.84 per cent, to 19417.46 as foreign investors remained net buyers for the 27 straight sessions. The broad-based National Stock Exchange index Nifty rose by 49.85 points, or +0.85 per cent to end at 5905.60 today.

  • According to brokers, investors buying to clear their pending short positions, created in recent bear-run before the monthly settlement in the derivatives segment tomorrow, also influenced the sentiment. A firming Asian trend and a government decision to extend two per cent interest subsidy for one more year till March 2014 for exporters hit hard by the global slowdown were other supporting factors, they said.

  • Risk appetite was firm on hopes of growth recovery in Asia after minutes of Bank of Japan monetary policy hinted towards further easing. Meanwhile, hopes of quick resolution to US 'fiscal-cliff' issue after President Barack Obama cut short his Christmas holidays, also supported risk-on sentiments.

  • Most of the European markets including France, UK, Greece, Italy were also shut today for Christmas holidays.

  • SP Tulsian holds a positive stance on the January series and expects Nifty to touch 6,150 then, he said in an interview to CNBC-TV18. He expects the December series to expire at 5,900. The chances of expiry at 5,800 is 33 percent and at 5,900 it is 67 percent. Since we have seen that level having touched today itself, tomorrow will be a range bound day, he explains.

  • Rally not impressive, feels Ashwani Gujral. This rally does not seem to be very impressive. It is impressive in the context of Monday's move which was 10 points but overall it does not show great momentum as the strong stocks are not carrying the market forward here. I am not too bullish on the indices. It still remains 5800 to about 5950. It is possible we end up closer to 5940-5950 tomorrow but this does not seem like big move which happens with the flourish and where you see big money moving in, he explains.

  • The BSE Sensex managed to register a return of over 25 per cent (as on December 26) so far in the year 2012 with 12 out of 30 stocks in the index hitting their 52-week high in the year, reports ET Now. The Indian markets have been able to ignore all the negatives in the year 2012 such as dwindling industrial output, declining exports, ballooning fiscal deficit and uncertainty over the US fiscal cliff, feels experts. Foreign institutional investors (FIIS) have pumped in over $20 billion of portfolio flows, highest in the last few years, which helped the Indian equities to make a sharp rebound. In the first half of the year 2013, the Indian markets will depend on the US fiscal cliff, the Reserve Bank of India policy action and the earning season, they say.

NIFTY 3-Month

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