Markets Lacklustre Ahead Of FDI Vote In Rajya Sabha
DSIJ Intelligence / 07 Dec 2012
The Indian markets have been catching on a flat trend ahead of the crucial multi-brand retail FDI voting in the Rajya Sabha.
Although the Indian markets opened higher today, they gradually inched lower to commence a flattish trend. The markets have been catching on this trend ahead of the crucial multi-brand retail FDI voting in the Rajya Sabha. This has resulted in an easing of gains, although consolidation can be ruled out. With this in focus, the Sensex is trading higher 12.96 points or 0.07% at 19499.76 and Nifty is lower by 0.40 points or 0.01% at 5930.50.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 22276 | 0.12 |
| Nikkei | 9527 | -0.19 |
| Shanghai | 2062 | 1.61 |
| SENSEX | 19499.76 | 0.07 |
| NIFTY | 5930.5 | -0.01 |
The Asian markets have been trading positive today. The Hang Seng and Shanghai Composite are trading higher by 0.12% and 1.61% respectively. This has been ahead of the announcement of key data from the US that would indicate the health of the US economy. Data to be released later today includes that on non-farm payrolls, private non-farm payrolls and the unemployment rate. The anticipation of this data is taking priority and temporarily reducing the focus on developments over the fiscal cliff.
On the domestic front, the market breadth is positive, with 1464 (51.79%) advances and 1232 (43.58%) declines. Although the broader indices are trading flat, there has been significant strength in the midcaps and smallcaps. This trend has been seen in the markets all through this week. Currently, the BSE midcap and smallcap indices are trading higher by 0.32% and 0.42% respectively.
Of the 13 sectoral indices, 4 are trading in the green this afternoon. The BSE Auto, Consumer Durables and Capital Goods indices are trading higher by 0.96%, 0.91% and 0.54% respectively. The highest losses are seen in IT and Realty, which have dropped 0.75% and 0.59% respectively.
The Auto index has zoomed upwards following healthy gains in Tata Motors, Maruti Suzuki and Mahindra & Mahindra, up by by 2.48%, 1.30% and 1.29% respectively.
Retail stocks are seeing added volatility ahead of the Rajya Sabha voting on FDI. The stock prices of Pantaloon Retail, Shoppers Stop and Trent are higher by 2.61%, 0.31% and 1.39% respectively.
We expect markets to remain lacklustre until there is firm development on the retail FDI front.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.