Visit http://indiaer.blogspot.com/ for complete details �� ��
Views on markets today
· Indian markets snapped its four-day winning streak on Friday and ended modestly lower due to investors booked profits following a four-day rally and lack of buying at higher levels. A broad-based selling was witnessed in small and mid-cap shares as the market sentiment turned weak after the SEBI barred founders and related entities of four companies from trading on the stock exchanges as these firms had indulged in fraudulent and unfair trade practices. However, a survey showed that the business activity in India's services sector surged to a four-month high in November, driven by robust growth in new orders. The down trend was led by selling pressure in real estate, consumer durable, metal and banks stocks while some buying witnessed in IT and auto stocks capped the markets from major loss.
· Market breadth was weak at ~0.32x as investors sold small and mid cap stocks. FIIs bought equities worth `6.03bn while domestic institutions sold equities of `6.89bn.
· Asian stock markets were mixed on Monday as Friday's disappointing US jobs report dampened regional sentiment. The Nikkei was down as the yen appreciated against the US Dollar while the Hang Seng is up by nearly 1%.
· We expect a firm opening for the Indian markets to continue the late recovery last week. Declining inflation and strong economic indicators are likely to help the markets to continue momentum. However, global uncertainties may create resistance.
Economic and Corporate Developments
· India's service sector output touched a four-month high in November on the back of strong trend in new order inflows, a survey by HSBC holdings Plc and Markit Economics showed on Friday.
No comments:
Post a Comment