21 Dec 2012 Daily BSE Morning Note

After opening marginally positive the markets slipped lower but recovered the losses as the day progressed and ended the day with minor losses. Among the sectoral indices Metals was the major gainer while Consumer Durables lost around 1%.In the Sensex stocks Hindalco (2.59%), Jindal Steel (2.27%) & Tata Steel (1.90%) were the gainers while Sun Pharma (1.99%), M&M (1.68%) & Bajaj Auto (1.37%) were among the losers. The Sensex lost 22 points or 0.11% to close at 19,454 and the Nifty lost 13 points or 0.22% to close at 5,916.

Total traded turnover stood at Rs 224,648 cr. In equities FIIs were net buyers of (Rs 467 cr) while DIIs were net sellers of (Rs 444 cr).On the derivatives side, FIIs were net buyers in Index Futures (Rs 56 cr), Index Options (Rs 154 cr) while they were net sellers in Stock Futures (Rs 114 cr) Stock Options (Rs 23 cr)..

The US markets ended higher after recovering the initial losses on better than expected home sales data and on signs of progress in the fiscal cliff negotiations. The Dow Jones gained 60 points or 0.45% to close at 13,312 while the NASDAQ gained 6 points or 0.20% to close at 3,050.

Asian markets slid on Friday after a Republican proposal to fend off a U.S. fiscal crunch failed to get enough support, deepening uncertainty over prospects for the negotiations to avert spending cuts and tax increases set to start in January. Indian indices are also expected to open on a soft note and global developments will be monitored closely for further direction.

The Asian markets are trading lower. Nikkei is trading lower by 0.41% and Hang Seng is currently trading lower by 0.56%. 

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