Market Wrap-Up - EF Market Times - Eastern Financiers

Persistent political congestion in the parliament and the sharp plunge in Consumer Durables & the FMCG sector along with slither in other broader and sectoral indices parked the benchmark indices in the negative terrain marking loss of around half a percentage point ahead of the September WPI data that is due today, which shall set the tone for RBI's policy meet on December 18. WPI is anticipated to be around 7.6% in November from a year earlier, compared with 7.45% in October. Slip in FMCG sector was attributed by ITC that slumped after FTSE lowered its free float weighting for the cigarette maker in its global equity index series. Trade however initiated in green and traded choppy for most part of the day, before it slumped in the final hour of trade. Broader indices flaked off around a percent. Nifty ended the day close to the 5850 mark at 5851.50 with loss of 36.50 points and the Sensex shaved off 126 points that ended the day for the index at 19229.26. Auto and Oil & Gas sector were the only gainers in trade that added around 0-1%.

Domestic Update

- The government has taken steps to ensure availability of spectrum and its allocation in a transparent manner , Prime Minister Manmohan Singh said while expressing confidence the months of tough challenges faced by the sector is coming to an end.

- The investment in the economy increased by 12.1% in terms of gross fixed capital formation in 2011-12 to Rs 26.15 lakh crore.

Source : Equity Bulls

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