Telecom stocks may drive the gains in Indian markets today: Analysis for Dec 27, 2011

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Telecom stocks may drive the gains in Indian markets today
The Indian markets opened in green today after the Christmas rally of yesterday. However, the slightly negative cues from Asian markets may act as a dampener later in a day. Today, the Asian markets have opened slightly in the red in the absence of any cues from European and US markets which were closed yesterday.

Telecom stocks may continue with their rally of yesterday as the Telecom Commission has approved mergers for telecom companies with a combined market share of up to 35 per cent. This may bring some consolidation in an intensely competitive sector. The volume in the Indian markets may continue to be low today like yesterday due to it being the tail end of the year. The FIIs played a major role in yesterday"s rally as they emerged as net buyers in Indian equity markets. Today also, FII activity will have a significant impact on the course of Indian markets as the day progresses.

Yesterday, the BSE SENSEX closed at 15970.75 up by 232.05 points or by 1.47% and then NSE Nifty ended at 4779 up by 65 points or by 1.38%.The BSE MIDCAP closed at 5228.23 up by 43.04 points or by 0.83%, while the BSE SMLCAP ended at 5669.98 up by 55.08 points or by 0.98%.The BSE Sensex touched intraday high of 15998.44 and intraday low of 15761.18 The NSE Nifty touched intraday high of 4787.25 and intraday low of 4718.15.

The net investments by FIIs on 26th December, 2011 in Indian capital markets stood at Rs 2198.80 crore. The net FII investments were positive yesterday.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 1261.80 crore. The gross sales were of Rs.989.70 crore. The net investment in the equity markets by FIIs on December 26th, 2011 stood at Rs 272.00 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 2819.00 crore. The gross sales by FIIs were of Rs 892.20 crore. The net investment by the FIIs in the debt markets stood at Rs 1926.80 crore.

Today, the Asian markets have opened slightly in the red in the absence of any cues from European and US markets which were closed yesterday. At 7.40 A.M. Indian time, the Nikkei 225 was down 38.19 points and was at 8441.32. The Taiwan weighted was down 32.55 points and was at 7060.57. The Shanghai composite was down 13.93 points and was at 2176.18.

The US and European markets were closed yesterday on account of Christmas.

Dion Global Solutions Ltd

Read more about: bse, nse, telecom, european
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