Dealer's Diary - December 27, 2012 - Angel Broking

The Indian market is expected to open flat tracking mixed opening of other Asian markets and flat trading of the SGX Nifty.

The U.S. markets moved mostly lower during trading on Wednesday on continued concerns about the looming fiscal cliff. The weakness on Wall Street came as traders expressed pessimism about the fiscal cliff negotiations, considering that lawmakers have only a few days to reach a budget agreement before the year-end deadline. The worries about the fiscal cliff overshadowed a report from Standard & Poor's, showing the strongest annual rate of growth in home prices in over two years. All of the major European markets remained closed for a second straight day due to the Christmas holidays, while stock markets across the Asia-Pacific region moved mostly higher on Wednesday.

Indian shares rallied on Wednesday on the back of easing liquidity concerns after the Reserve Bank of India said it would pump in Rs.8,000cr in the market on 28th December 2012 by buying government securities. The budget negotiations are likely to once again overshadow a batch of economic data, including reports on new home sales and consumer confidence which are due to be released today.

Source : Equity Bulls

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