Indian indices posts slim gains for the week - IIFL

Indian indices managed to eke out slim gains for the week after posting losses for two weeks in a row. The key indices were rangebound for most days of the week except for Thursday when V-Wap-based selling pulled down the indices.

The fiscal cliff negotiations would play a major role in deciding the market trend next week as experts now say that sliding down the cliff a little bit wont hurt the U.S. economy as negotiations and a probable agreement are expected to skid past 31st December deadline into early January. President Obama and Congressional leaders are set to discuss the same later today and on representatives in the House will meet on Sunday.

The week opens with Chinese PMI hitting the headlines. On January 4, Indian HSBC Service PMI would be announced. Finance P Chidambaram headed Empowered Group of Ministers (EGoM) on spectrum is likely to meet next week to discuss on the issue spectrum auction, which would be keenly followed by those invested in telecom sector of India. Investors will of course pay immediate attention to the host of data that comes from car sales, cement dispatches etc besides keeping track of PMI and services PMI. Corporate earnings will start trickling in too. So, brace for some more volatility and avoid any misadventures. RBI's next move will also be eagerly awaited by the market.

Source : Equity Bulls

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