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Market Report

Monday, 31-Dec-2012

NSE

  • The 50-share Nifty ended the last day of the calendar year marginally in the red but above the psychological level of 5900 levels, even as the concerns over the US 'fiscal cliff' remained.

  • The 50-share Nifty index ended at 5905.10, down 3.25 points or -0.06 per cent. It touched a high of 5919 and a low of 5897.15 in trade today. The Sensex closed at 19426.71, down 18.13 points or -0.09 per cent. The index touched a high of 19491.58 and a low of 19406.17 in trade today.

  • The Nifty has been Asia's best-performing index, gaining 27 per cent in 2012. The index recorded its biggest gain of 25.7 per cent after 2009 amid government economic reforms measures, including opening foreign direct investment in the retail sector.

  • Most markets in Asia remained closed on account of year end holidays. However, concerns over the US 'fiscal cliff' continued to weigh on market sentiment.

  • Going into 2013, it will be a year of midcaps compared to large caps as most of heavyweights have already risen close to 30-40 per cent and the scope for significant capital appreciation is pretty low, say experts. Stock market hopes for rate cuts, more reforms in 2013. Despite volatile moves, the year 2012 has finally proved to be fruitful for the stock market with about 25 per cent appreciation in benchmark indices, they add. The rally is not finished yet, say most analysts. Market experts are expecting the Indian markets to scale new highs by the end of next year.

  • Painting to better picture for 2013, Morgan Stanley analysts expect Sensex companies to grow 10.8% on a year on year basis in FY2013 as against the consensus estimates of 8.3%. It also expects Sensex companies to grow 14.2% in FY2014 as against the consensus estimates of 13.9%.

  • India as a stock market will outperform the global markets in 2013, says Mehraboon Irani of Nirmal Bang Securities. Rupee is the biggest risk factor as far as the Indian factors are concerned, second is the fiscal deficit and third is inflation and interest rates, he adds.

  • 2013 profitable year on the long side, says Mitesh Thacker. I would be very positive and look at much higher levels on Nifty but in the next few weeks, few months I do hope that 6150 is being tested, he adds.

NIFTY 3-Month

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