The upgrade of India"s local currency debt to investment grade by Moody"s has injected a bit of positivity in the market sentiments. However, the market sentiments can be dampened after the shelving of Pension Fund Regulatory Development Authority Bill due to opposition from Mamta Banerjee. The Lokpal Bill will be tabled in the Parliament today and the opposition may obstruct its passage also. Further selling by FII participants on the second last day in the week before Christmas may pull down the markets today.
Yesterday, the Bombay Stock Exchange's Sensex closed at 15,704.34, up 529.26 points or 3.49 per cent. The Nifty ended at 4,702.80, up 158.60 points or 3.49 per cent. The BSE MIDCAP closed at 5,141.29 up by 65.25 points or by 1.29 %. while the BSE SMLCAP ended at 5,516.85 up by 51.15 points or by 0.94 %. The BSE Sensex touched intraday high of 15,727.31 and intraday low of 15,377.04 The NSE Nifty touched intraday high of 4,707.35 and intraday low of 4,601.95.
The net investments by FIIs on 21st December, 2011 in Indian capital markets stood at Rs - 315.40 crore. The net FII investments were negative yesterday.
The gross purchases by the FIIs in the Indian equity markets were of Rs. 1963.10 crore. The gross sales were of Rs.2397.40 crore. The net investment in the equity markets by FIIs on December 21st , 2011 stood at Rs -434.40 crore.
The gross purchases by the FIIs in the Indian debt markets were of Rs 1444.90 crore. The gross sales by FIIs were of Rs 1325.90 crore. The net investment by the FIIs in the debt markets stood at Rs 119.00 crore.
Today, most of the Asian markets have opened in red on weak global cues from the European and US markets. At 7.40 A.M. Indian time, the Nikkei 225 was down 52.57 points and was at 8407.71. The Hang Seng was down 134.99 points and was at 18280.06. The Taiwan weighted was down 2.44 points and was at 6964.04. The Shanghai composite was down 28.63 points and was at 2162.52.
The US markets ended on a mixed note yesterday with Nasdaq closing in red while the Dow Jones and S & P 500 closed in green. The main reason for the decline in Nasdaq was the quarterly result of Oracle which was below expectations. The data on US home sales in November was slightly encouraging and indicated a steady economic recovery in the US economy. The Nasdaq closed at 2577.97, losing 25.76 points over the previous day"s closing. The Dow Jones Industrial gained 4.16 points and closed at 12107.74. The S & P 500 gained 2.42 points and closed at 1243.72.
Major European Markets ended in red yesterday as confidence of the market participants was shaken by a banking report that said that more banks in the region may need funding support. The DAX lost 55.50 points and closed at 5791.53. The FTSE 100 lost 29.86 points and closed at 5389.74. The CAC was down 24.92 points and closed at 3030.47.
Gold prices lost 0.1 % to close at $1613.40 per ounce, while silver prices lost 0.8 % and closed at $ 29.27 per ounce. Crude oil gained 1.5 % to close at $ 98.70 per barrel.