Indian markets settled the first week of 2013 on a buoyant note - Microsec

Indian markets settled the first week of 2013 on a buoyant note with Nifty closing above 6,000 levels after a gap of 2 years. Optimism in the market was very high at the start of the New Year after a last-minute deal pieced together by US politicians to avoid the fiscal cliff.

On domestic front, India's manufacturing activity surged to a six-month high in December 2012. The HSBC Markit Manufacturing PMI jumped to 54.7 in December from 53.7 in November, its biggest monthly rise since January 2012.

India's services sector grew at its strongest pace in three months during December 2012. The HSBC Markit Services PMI rose to 55.6 in December from November's 52.1.

On global front, Markit's Eurozone Manufacturing PMI edged down to 46.1 in December 2012 from November's 46.2. The final December figure was down from an earlier reported flash reading of 46.3. The index has been below the 50 mark that divides growth from contraction since August 2011.

The U.S. Unemployment rate for December 2012 remained unchanged at its previous month revised rate of 7.8 percent.

Source : Equity Bulls

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