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Friday, December 30, 2011
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 indicates a gain of 44 points at the opening bell. Asian stocks edged higher on the last trading day of 2011, as rising US home sales signaled the world's largest economy is weathering Europe's debt crisis.
Closer home, key benchmark indices fell for the third straight trading session on Thursday, 29 December 2011, as index heavyweight Reliance Industries (RIL) dropped more than 3%. The BSE Sensex lost 183.92 points or 1.17% to settle at 15,543.93, its lowest closing level since 20 December 2011.
Thursday, December 29, 2011
Stocks of 2011
Year 2011 was not so good for the Indian Markets with lot of negative news creating pressure and dragging stocks lower. Investors completely lost interest and as a result of the same, major stocks witnessed selling pressure.
Here take a look at major stocks that remained in the limelight throughout the year due to news-specific actions.
Bullions continue to shed glitter
Prices drop for fifth straight day
Precious metals ended lower for fifth straight session on Wednesday, 28 December 2011 at Comex. Prices dropped amid a strong dollar and thin level of trading. Prices also responded to bearish news from Europe, China and India, which produced fears of weakening demand for the precious metal
Gold for February delivery ended lower by $31.4 or 2%, to end at $1,564.1 an ounce on the Comex division of the New York Mercantile Exchange on Wednesday. Prices have shed 3.3% in past five sessions. Last week, the yellow metal rose 0.5%.
Daily News Roundup - Dec 29 2011
RIL is in advanced talks with American defence giant Raytheon to create a joint venture that will pursue opportunities in homeland security in India and abroad (ET)
The coal ministry has turned down Coal India’s request to cut its production target for the year (ET)
Government to ask Sterlite for formal plan for buying 49% residual stake in Balco (BL)
M&M South Korean subsidiary Ssangyong is likely to fall short of its sales target for 2011 as debt woes continue to plague one of its largest markets Europe (ET)
Sensex slips in sluggish session…Nifty @ 4750
The topsy-turvy ride of the Indian market continued even as MPs traded barbs in Parliament on the New Lokpal Bill and Anna Hazare kicked off his three-day stir. Traded volumes remained light, notwithstanding the fact that the F&O expiry is just two days away. Essentially, the main indices never got going like they did on Monday amid lack of broad-based participation. The BSE Sensex and the NSE Nifty lacked sense of direction. The broader market too was more or less subdued.
The undercurrent was cautious as a strong report on the infrastructure output was countered by concerns about the Government’s fiscal profligacy and tight liquidity. The fact that most global markets are in festival mood hasn’t helped matters either. Most market participants are on ‘wait-and-watch’ mode right now amid lingering worries about the worsening domestic economic situation and problems plaguing the world economy.
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