Markets gain marginally last week; Realty jumps 5%
Published: 08th December 2012 08:18 AM
Last Updated: 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