Week In Retrospect - Microsec

The Indian market refuses to break out of the trading range which we continue to believe shall hold on for some more time till the Winter Session of Parliament. Talk on the fiscal cliff in the US, the political transition in China and domestic events of IIP data and inflation may make the shortened weekly trading volatile. Investors may bet on beaten down capital goods, infrastructure and PSU Banks in the auspicious Muhurat Trading Day on 13th Nov 2012. The current decline in non ferrous metal prices and crude oil prices is a sweetener to market sentiment. BUY L&T, TCS, GSK Consumer, IL&FS Transportation, Pidilite, Maharashtra Seamless ltd. Blue Star, Bharti Airtel with investment perspective.

Indian markets wrapped the week on a subdued note led by losses seen in capital goods, oil & gas, metal and power stocks. Indices were resilient at the start of the week but turned in the red from mid-week as the global sentiment worsened on concerns about upcoming fiscal challenges for USA.

On domestic front, India's Direct Tax collections Index (PMI) rose 6.6% in the first seven months of the current financial year from a year ago.

Foreign exchange reserves accumulation has fallen to a four-year low exposing the rupee to volatility.

On Global front, University of Michigan consumer sentiment Index rose to 84.90 the fourth straight increase and the highest since July 2007 from 82.60 in October.

Source : Equity Bulls

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