Global markets at a glance
European shares were holding at two-month lows on Friday and are set for their worst fortnight since June. The FTSEurofirst 300 index of top European shares lost 0.2 percent, to 1,242.68 points, after hitting a two-month low earlier in the session. The benchmark index, which was up
15 percent on the year at the end of November, has dropped about 4.8 percent since then, its biggest decline in six months.
Wall Street Update
Wall Street ends flat on Friday. Stocks ended Friday’s session little changed after a three-day drop. The Dow Jones
industrial average rose 15.93 points or 0.1 percent, to end
at 15,755.36. The S&P 500 dipped a mere 0.18 of a point
or 0.01 percent, to finish at 1,775.32. The Nasdaq Composite added 2.572 points or 0.06 percent, to close at
Wholesale Price Index will be announced tOday at
Railways have registered a shortfall in revenue to the
tune of Rs 4121.49 crores during the first half of the
current financial year from April to September.
The Government of India is likely to realize an amount
of approximately Rs 2,000 crore from NHPC buyback
offer. The buyback which opened on November 29
closed on December 12. The entire process would be
completed by January 7, 2014.
India industrial growth to remain weak for rest of 2013-
Tata Motors emerged as the cheapest export-oriented
stock based on 12-month forward earnings among the
BSE index constituents, mainly due to increasing contri-
bution in revenue and profits from its unit JLR.
The markets would tread cautiously waiting for how the
two key events this week unfold – FOMC meeting on
December 17-18 and RBI meeting on December 18th.
RIL protests against move to snatch away 5 gas discoveries.
STOCKS IN NEWS
Essar Oil selling gas from coal seam at $ 9.16 to $
11.63 while GEECL sells same at $ 8.46 to 22.01.
Torrent Pharma acquires Elder’s domestic business
for Rs 2000 crore.
Sterlite to connect 150K homes with fiber by March
LIC Housing Finance will meet bank licence norms.
RIL to ramp up gas output from KG-D 6
RPower starts generation from Sasan UMPP second
U.S. Gold rose about 1 percent to $1,237 an ounce after a
two-day fall, but sentiment remained fragile. A sideways
trading seen in MCX GOLD Feb contract on Friday, although
it closed at higher at 29432 or +0.72% from previous close.
Previous week was a recovery period for gold, GOLD price is
tacking immediate resistance at 29650 and support at
29150. for coming week market will be in sideways due to
The Indian rupee fell and bond yields surged on Friday after
retail inflation spiked to its highest on record, raising expectations for another rate hike by the central bank and adding
to the woes of the embattled government. The rupee weakened as far as 62.28 to the dollar, a one-week low, and
closed onshore trading at 62.125/135, a third day of losses.
It had ended trade at 61.81/82 on Thursday. For the week,
it fell 1.1 percent, after three successive weeks of gains.
Bond yields surged, with the 10-year yield up 6 basis points
at 8.91 percent.
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