Markets gain marginally last week; Realty jumps 5%
08th December 2012 08:18 AM
Indian benchmark indices moved up marginally over last week. Markets ended on a soft note on the back of the passage of the multi brand retail bill in both houses of the Parliament. The UPA government won vote on FDI in multi-brand retail in the both the houses. Now investors are waiting for how Winter session of the Parliament pan out ahead. On sectoral front, BSE Realty, Oil & gas and Metals led the rally.
The 30-share index, Sensex gained 84.20 points, or 0.44% over previous week to 19,424.1 On the other hand, the broad based NSE Nifty too gained 27.55 points, or 0.47%, to 5,907.4. Meanwhile, BSE Midcap and Smallcap rallied 2.44% and 2.34% respectively.
Most of the sectoral indices at the BSE ended in positive barring IT and Technology, which lost 4.14% and 3.31% respectively during the week. Top gainers were BSE Realty (5.18%), Oil & gas (3.13%), Metal (2.07%), Power (2%), Bankex (1.66%), Capital goods (1.44%), PSU (1.43%), Consumer durables (1.41%), Auto (1.13%), FMCG (0.48%) and Healthcare (0.31%).
Dipen Shah, Head of Private Client Group Research, Kotak Securities said, 'We expect the Government to take up further fiscal reforms over the next few days. The developments on the 'fiscal cliff' issue in USA will also be keenly watched and a resolution on the same will be positive for the markets.''Buying is being witnessed in almost all sectors which is positive for coming sessions. However, economic data like inflation and IIP data in coming week, and probability for rate cuts in December shall have near term impact on the market sentiment. In the coming week, 5950 shall be deciding level. Above 5950, likely upward targets are 6000-6050. Support may be seen from 5850-5800 levels and resistance near 5950,' Rakesh Goyal, senior vice president, Bonanza Portfolio.
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