Monday 23 December 2013

Nifty below 6,300 levels

At 12:36pm (IST), the BSE Sensex was trading at 21,145, up 65 points over the previous close, while NSE Nifty was quoting at 6,299 , up 25 points over the previous close.
The BSE Small-Cap index and BSE Mid- Cap index was trading up at 1%.
RIL, TCS, Wipro, ONGC, Bharti Airtel, Bajaj Auto, Gail India, Tata Motors, ICICI Bank, HDFC, Hero MotoCorp, Jindal Steel, Tata Steel, Mahindra & Mahindra, are among gainers in Sensex and Nifty.
Infosys, Tata Power, Maruti Suzuki, Coal India, HDFC Bank among losers in Sensex and Nifty.
Teck, FMCG, Metal,  PSU, Capital Goods, IT, Teck, Consumer Durables, Realty, Oil and gas, Power indices are the gainers.
With market closed on Wednesday for Christmas and the F&O expiry on Thursday, there could be some swings though volumes may be relatively low.

Local political factors will take a back seat till we reach near the general elections and therefore global events and liquidity flows would largely determine the direction of the market. In the short-term, we expect markets to consolidate as investors look at reassessing the impact of the RBI status quo as well as Fed’s modest tapering.

A fall in vegetable prices is likely to ease headline inflation and retail inflation to 6.5 % and 9.20 % respectively in December, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan was quoted as saying.
Standard & Poor's Ratings Services said today that it had raised its long-term corporate credit rating on Tata Steel UK Holdings Ltd. (TSUKH) to 'BB-' from 'B+'.
Apple and China Mobile  announced they have entered into a multi-year agreement to bring iPhone to the world's largest mobile network.As part of the agreement, iPhone 5s and iPhone 5c will be available from China Mobile's expansive network of retail stores as well as Apple retail stores across mainland China beginning on Friday, January 17, 2014.
ICICI Bank has reduced interest rates by 15 basis points designing a special scheme, which is only available to the new customers.

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