|
Indian market opened flat on strong asian market opening but slided to negative terrain then it bounced back on the expectation of lower Inflation and rate cut in this week by Reserve Bank of India to boost economy growth rate. Further there was also a news of export package of 1500 crores for Infrastructure companies and easyness of External Commercial Browings ( ECB). Rate cut and economic stimulus package hopes made the markets surge by nearly 5% in todays trade, outperforming all other Asian markets significantly. Sensex ended the day with a gain of 482.32 points, or 5.51% at 9,229.75 after touching a high of 9,245.06 and a low of 8,726.71. The broad-based NSE Nifty gained 131.55 points, or 4.95% at 2,788.00 after hitting a high of 2,793.80 and a low of 2,646.35. BSE Midcap and Smallcap index too ended up by 3.26% and 2.04% respectively
Sectoral : This was a good day for all sectoral indices also as all indices closed in Green. The major gainer was Realty and Metal index, both gained 12.44% and 7.91% respectively. Tata Steel and JP Associate were the top gainers among sensex stocks, climbing 13.8% each. None of the sensex stock closed in red.
Inflation : Inflation for the week ended Nov 22 came in at 8.40% as against 8.84% in the previous week and market expectation of 8.82%.
Crude : Oil plummets below $44 per barrel on economic news. Light, sweet crude for January delivery was down 3 cents at $43.64 a barrel in electronic trading on the New York Mercantile Exchange by midmorning in Singapore. The contract fell overnight $3.12 to settle at $43.67, the lowest since January 2005. Oil prices have fallen about 70 percent since peaking at $147.27 in July.
European Markets : European markets closed flat to negative. London based FTSE 100 index closed at 4,163.61 down 6.35 points or 0.15% . France based CAC 40 closed flat neither gaining nor loosing :) at 3,161.16 . Germany's premier index DAX closed at 4,564.23 down 3.01 points or 0.07% . In the first half all of Euro major indices were trading higher, but due to week U.S futures data , all of them went to negative and then after some recovery all closed flat to negative.
American Markets : US market closed negative after a three days wining streak. US jobclaim data showing weakness, it fall to 504K from previous 525K analyist believes it would be more 10K but it falled. US main index DOW Comp closed at 8,376.24 by shedding 215.45 points or 2.51% . Tech based Nasdaq closed at 1,445.56 weakning by 46.82 points or 3.14% . SnP 500 index sheed -25.52 points and closed at 845.22. Showing weekness in US economy.
Subscribe to:
Post Comments (Atom)
0 comments for this post