Indian Markets moved in a narrow range - Microsec

The week was quite tepid and moved in a narrow range on lack of any significant triggers as of now.

On Domestic front, India's Foreign Exchange Reserves fell slightly to USD295.50 billion for the week ended December 20, 2013 compared with USD295.52 billion in the earlier week.

On Global front, The U.S. Durable Goods Orders rose 3.5 percent in November 2013. Orders for Durable Goods in October were revised to a 0.7 percent decline from a previously reported drop of 1.6 percent.

Sales of New U.S. Homes fell modestly in November 2013 from a five-year high. Sales fell 2.1 percent to a seasonally adjusted annual rate of 464,000 units. Despite the fall from October's revised 474,000 pace, which was the highest level since July 2008, Home Sales retained the bulk of the previous month's revised 17.6 percent increase.

The U.S. Initial Jobless Claims fell by 42,000 to a seasonally adjusted 338,000 in the week ended December 21, 2013 from its previous week.

Source : Equity Bulls

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