Market Wrap-Up - December 24, 2012 - Eastern Financiers

Markets plunged sharply in trade on the last day of the week to the tune of almost a percentage point on trepidations over the US fiscal cliff and depreciation in the Indian currency that slipped down to the 55 per dollar mark.

Global indices edged lower as Republican leaders in the U.S. canceled a vote on higher taxes for top earners, fueling concern that party members will prevent politicians from agreeing on a compromise budget. Selling was witnessed across the board with the broader indices underperforming the benchmarks. Broader indices tripped down almost one and a half percentage point.

Sectoral indices too were on sellers radar that parked down in the negative terrain listing loss of almost 0.25-3.5%. Benchmark Nifty eroded gains dripping down below the 5850 mark to shut the shop at 5847.70 with loss of 68.70 points, and the Sensex ended at 19242 flaking off 211.92 points.

Source : Equity Bulls

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