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Wednesday, January 02, 2013
Better trades today - Jan 2 2013
Global Cues: The European shares and US stocks remain closed on Tuesday (January 01, 2013) account of New Year holiday. The Asian shares are trading higher on Wednesday (January 02, 2013). SGX Nifty down by 13 points. Events for the day: India December Markit Manufacturing PMI. Stock in news: Hero MotoCorp posts marginal rise in sales. OBC cuts interest rate on home loans by 0.1%. NMDC in talks for coking coal mines in Russia, Mozambique.
Market surges on US fiscal cliff deal
Key benchmark indices surged on the first trading session of calendar 2013 after the US Senate approved an agreement early on Tuesday struck hours earlier by the White House and Senate Republicans to keep the world's biggest economy from falling off the fiscal cliff. The 50-unit S&P CNX Nifty attained its highest closing level in almost two years. The barometer index, BSE Sensex, attained its highest closing level in more than 20 months. The Sensex jumped 154.10 points or 0.79%, off close to 40 points from the day's high and up about 70 points from the day's low. The market breadth, indicating the overall health of the market, was strong. BSE Small-Cap and Mid-Cap indices, both, outperformed the Sensex. From a 52-week low of 15,358.02 on 2 January 2012, the Sensex has risen 4,222.79 points or 27.49%. The Sensex is off 31.37 points or 0.15% from a 52-week high of 19,612.18 hit on 11 December 2012. The Sensex advanced 86.81 points or 0.44% in December 2012. The barometer index jumped 3,971.79 points or 25.69% in calendar 2012.
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