Listless trade ends flat; Sensex slips 10 points

Indian markets resumed the trading session on a positive note but could not sustain morning gains till the end. The Sensex fell by 10 points while the Nifty gained 2 points owing to selling pressure across the board. Headlines of the day: MCX gains over 5% as MCX-SX begins mock trading Gems & Jewellery shares jumps; Vaibhav Gems hits upper circuit City Union Bank hits 52-week high; stk gains over 4%

M&M scales record high

Key benchmark indices closed nearly unchanged after witnessing intraday volatility. The barometer index, BSE Sensex, lost 9.68 points or 0.05%, up about 74 points from the day's low and off about 139 points from the day's high. The market breadth was weak. Index heavyweight and cigarette maker ITC dropped. Another index heavyweight Reliance Industries (RIL) also declined. Auto stocks rose on hopes of likely higher sales this month to be propelled by last week's festive Diwali season, with utility vehicles maker Mahindra & Mahindra (M&M) hitting record high and car major Maruti Suzuki India hitting 52-week high. The Sensex has declined 176.06 points or 0.95% in this month so far (till 20 November 2012). The Sensex has surged 2,874.40 points or 18.6% in calendar 2012 so far (till 20 November 2012). From a 52-week high of 19,137.29 on 5 October 2012, the Sensex has declined 807.97 points or 4.22%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 3,193.46 points or 21.10%.

MOIL

 MOIL

IVRCL

 IVRCL

Daily News Roundup - Nov 20 2012

Hindustan Petroleum Corporation has decided to put Rajasthan ahead of Maharashtra in its refinery commissioning dates. (BL) Gamesa Wind Turbines India has bagged an order from SJVN Ltd, for the supply of 56 wind turbines of 850 kW capacities each totalling 47.60 MW. (BL) Maldivian Airlines has signed a pact with the Apollo Hospitals to give discounts to each others’ clients. (BL) Karnataka Bank has raised Rs.2.5bn by issuing 10-year, tier-2 bonds. (BL)

Up above the cliff so high!

Living at risk is jumping off the cliff and building your wings on the way down.- Ray Bradbury After stumbling for eight days in a row, the indices look poised to clock some gains today. World markets are upbeat on hopes that the fiscal cliff negotiations in Washington are progressing well especially after Obama met Congressional leaders on Friday. We expected gains in our market on Monday itself though. A rebound in Nifty above the 5630 levels will augur well for the time being. Asian markets are up this morning. Reports state that a better- than-forecast US home sales has brought in some cheer. US indices saw one of their best gains in months with the Dow adding over 200 points.

Positive global cues may lift markets higher

Indian stocks are expected to start the trading session higher as the global cues look supportive. SGX Nifty is also trading 11 points higher Events for the day: Ex date for dividend of Procter & Gamble Hygiene & Healthcare. Ex date for interim dividend of Infotech Enterprises.

Market may open higher on firm Asian stocks

The market may open higher on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could gain 11 points at the opening bell. Asian stocks rose for a third day on Tuesday, 20 November 2012 after U.S. housing data boosted optimism that the world's largest economy is recovering. Metal stocks will be in focus as LMEX, a gauge of six metals traded on the London Metal Exchange jumped 2.25% on Monday, 19 November 2012.