Markets end week with minute gains; Sensex, Nifty up by 1%

The Indian markets closed with marginal gains and remained in a narrow range throughout the week. The Sensex rose 1.08% and the Nifty was up by 0.94% for the week ended November 23, 2012. Major Headlines: Indian economy likely to grow in range of 5.5% to 6%: Moody's Govt prefers capital infusion in PSU Banks via rights issue Tata Motors expects auto sector to grow by 6-7% this fiscal CBI questions 2 officials in coal allocation scam Govt to OK NMDC's 50% stake buy in Legacy Iron Ore Indian indices: The Indian markets were in a consolidation mode this week and remained in a tight range. After negative trend of past two-weeks, the markets traded lackluster and did not show major movements. There were no great triggers to lift markets higher, which led the key indices to trade in a narrow range throughout this week. Markets witnessed gains as the investors bought shares tracking the winter session of parliament. The market sentiments were also boosted by data showing that foreign institutional investors (FIIs) remained buyers of Indian stocks during the week. The week gone by was the forty seventh trading week of 2012, with the Sensex rising 1.07% and the Nifty up by 0.94%. The BSE Mid-Cap index fell 0.91%. The BSE Small Cap index fell 0.75%. Both these indices underperformed the Sensex. The BSE Sensex rose 197.20 points or 1.08% to 18,506.57 in the week ended November 23, 2012 while NSE Nifty rose 52.55 points or 0.94% to settle at 5,626.60. Weekly market trend from November 19 - November 23, 2012: 1. On November 19, 2012, the Indian equities remained highly volatile throughout the day and closed today's trading session on a flat note. Investors remained cautious ahead of upcoming winter session of the parliament in India. The Sensex gained 0.16%, and ended at 18339.00 up by 29.63 points while the NSE Nifty settled at 5571.40 down by 2.65 points. 2. On November 20, 2012, the Indian markets traded higher throughout the day, but gains were capped owing to profit booking across the board. Weakness persisted in majority of the sectors and index heavyweights which resulted in the downfall. The Sensex closed at 18329.32, down by 9.68 points while the Nifty gained 0.15 points to close at 5571.55. 3. On November 21, 2012, the Indian markets maintained its uptrend throughout the day, after opening on a flat note and closed the session on a strong note. Majority of the sectors were under the buyer's radar. The Sensex closed at 18460.38, up by 131.06 points, while the Nifty rose by 43.25 points to close at 5614.80. 4. On November 22, 2012, the Indian markets saw positive trade throughout the day and closed near the day's high with the Sensex up by 0.31% and Nifty gained 0.23%. The failure of former UPA ally the Trinamool Congress to bring a no-confidence motion against the government in the Lok Sabha over FDI in retail also helped improve the sentiments. The Sensex closed at 18517.34, up by 56.96 points and the Nifty rose 12.95 points to close at 5627.75. 5. On November 23, 2012, the Indian markets ended flat amid political logjam after the Lok Sabha was adjourned and ahead of all-party meeting on FDI convened by government on Monday (November 26, 2012). The Sensex closed at 18506.57, down by 10.77 points and the Nifty fell by 1.15 points to settle at 5626.60 in trade today. Global indices: All the global markets closed on a positive note. Top losers: CAC 40 up by 4.69%, DAX100 gained 4.24%, Nikkei up by 3.8%, Hang Seng rose 3.57%, FTSE100 up by 3.31% and Nasdaq rose 2.57%. Sectoral and stock screening: Among 13 sectoral indices, six sectors closed the week on a negative note and remaining seven closed on a positive note. Top Losers: BSE Realty down by 1.23%, BSE Power fell by 1.20%, BSE FMCG slipped by 1.06. Top Gainers- BSE HC rose 2.57%, BSE CG rose by 1.53% and BSE Auto surged by 1.21%. Looking at the 'A' group stocks, the top three gainers of the week were Jet Airways which was up by 27.91%, Sun TV up by 7.64% and M&M up by 6.67%. The top three losers of the week were Hindustan Copper was down by 14.88%, Opto Circuits fell by 12.09% and L&T Finance slipped 10.29%. FII/MF activity: The foreign institutional investors (FIIs) have been net buyers of the Indian stocks worth a net of Rs1122.9 crore, while the domestic investors were net sellers of Indian stocks to the tune of Rs6.2 crore during the week till November 21, 2012. Market Outlook: Next week is a truncated trading week. In the coming week, markets may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month November 2012 series to December 2012 series. The near-month November 2012 derivatives contracts expire on Thursday, November 29, 2012. Stock market participants will closely track the Winter Session of Parliament which began on Thursday, November 22, 2012, for fresh triggers. The stock market remains closed on Wednesday, November 28, 2012, on account of Gurunanak Jayanti. On the global market front, investors are focused on US fiscal cliff. The US fiscal cliff refers to the year-end deadline for the expiration of hundreds of billions of dollars worth of tax cuts and the triggering of $109 billion in across-the-board spending cuts, if the US Congress fails to act. Investors will also track news flow from the European region as euro-zone leaders struggle to tackle Greek debt issue. Euro-zone finance ministers will meet again on Monday, November 26, 2012.