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Market Round Up December 31, 2010
Indian Markets
• The Dec expiry ended on a positive note as the Nifty closed above 6100. While the BSE
Sensex finally closed 133 pts or 0.66% higher at 20,389, the Nifty gained 42 pts or 0.7%
to close at 6102. Broad market indices too ended higher as the BSE Mid Cap and Small
Cap indices gained 0.7% and 0.4% respectively. Market breadth was positive as the A/D
ratio was 1.4:1 on the BSE. NSE cash turnover was Rs.14,527crs. Vs. Rs.9,536crs. in
the previous session.
• Barring the BSE Oil and Gas index, all the sectoral indices ended higher. The top
gainers were the BSE CD, Realty, IT and Metal indices. The top gainers from the BSE
30 were NTPC, Hero Honda, Tata Motors and Tata Power. The top losers were HDFC
Bank, ONGC and Bajaj Auto.
• As per the provisional figures on Thursday, the FIIs were net buyers of Rs. 2,186 crores
in the cash markets, while they were net buyers of Rs. 184 crores in the F&O markets.
DIIs were net sellers of Rs. 848 crores in the cash markets.
US Markets
• U.S. stocks ended Thursday's trading session slightly in the red, as trading volume
remains light during the last week of the year.
• At the closing bell, all three major indexes had lost about 0.1%. Dow Jones trimmed 16
points, to close at 11,570; S&P 500 fell 2 points to close at 1,258; and Nasdaq shed 4
points, to close at 2,663.
• Trading was thin, as the Northeast continues to cope with the lingering effects of a
massive snowstorm and many traders left for the holidays. On both the New York Stock
Exchange and the tech-heavy Nasdaq, winning stocks beat losers, but by slim margins.
• Thursday's reports mark the last bit of economic data for the year, and all three brought
good news.
• Before the bell, the Labor Department said initial unemployment claims fell to 388,000 in
the week ended Dec. 25. That marked the lowest level since July 2008, and was much
better than the 416,000 claims economists had expected.
• Meanwhile, the number of Americans filing for their second week of unemployment
insurance or more jumped by 57,000 to 4,128,000; in the week ending Dec. 18, based
on the latest data available.
• The National Association of Realtors reported that pending home sales rose 3.5% in
November, far better than the 3% decrease economists were expecting. Pending home
sales are a forward-looking indicator for the housing market, reflecting contracts and not
closings.
• Also, the Chicago PMI rose to 68.6, showing manufacturing activity picked up more than
expected in December in the Midwest region.
• The Indian ADRs ended in the green except MTNl and HDFC Bank, which were down
by 1.2% and 0.6% respectively. Wipro and Tata Motors rose by 1.5% and 1.4%
respectively. Infosys and ICICI Bank gained 0.8% each while Dr Reddys rose by 0.9%.
Tata Communications rose by 0.1%.
Latin American Markets
• Among the Latin American markets, the Brazilian and Mexcian markets rose by 0.5%
and 0.03% respectively.
Asian Markets
• Today, the Asian indices are trading in the green except Nikkei, which is down by 1.1%.
Shanghai and Taiwan are trading higher by 0.7% each while Kospi is up 0.4%. Hang
Seng and Strait Times are up by 0.2% and 0.1% respectively.
Commodities
• Among the metals, Zinc rose by 2.1% while Nickel lost 0.4%. Copper and Aluminium
rose by 0.9% and 0.5% respectively.
• Oil for February delivery slipped $1.28 to settle at $89.84 a barrel.
• Gold futures for February delivery fell $7.60 to settle at $1,405.90 an ounce.
Outlook for Today
Today, we expect the Indian Markets to open on a flat to positive note and could move up
higher during the day. Among the sectoral indices, Metals and Capital goods could
outperform
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