Pre Session: A spurt of good news from the domestic front may drive up the markets further Analysis for Jan 11, 2012

Subscribe to GoodReturns

The January effect - January is usually a good month for equity markets – seems to be playing out well for the Indian equity markets in 2012. After the humungous rally of yesterday, the markets may continue on the upward trend on the back of good news coming from the domestic front. The government has notified 100 % FDI in single-brand retail and this will pull up the market sentiments. Positivity will be strengthened by the news that FDI in India in the month of November increased by 56 %. Indirect tax collections increased by 16 % in December and this will relieve some of the pressure on fiscal deficit, easing the concerns of the market.

From the foreign markets, Indian markets are getting strong positive cues today. Most of the Asian markets have opened in green on positive global cues from the European and US markets. The US markets ended in green yesterday. The market sentiments were bolstered by the news that China may ease its monetary policy, giving a boost to the global economy. Alcoa announced its results kicking the earnings announcement season. It reported good top-line growth but disappointing bottom-line as it posted a fourth quarter loss. The European Markets ended in green yesterday after market sentiments were given a boost by reports that analysts at Fitch believe France and Germany will maintain their top-notch credit ratings in 2012.

The net investments by FIIs on 10th January, 2012 in Indian capital markets stood at Rs 369.40 crore. The net FII investments were positive yesterday.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 1789.10 crore. The gross sales were of Rs.1776.70 crore. The net investment in the equity markets by FIIs on January 10th, 2012 stood at Rs 12.40 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 818.20 crore. The gross sales by FIIs were of Rs 461.10 crore. The net investment by the FIIs in the debt markets stood at Rs 357.00 crore.

Today, most of the Asian markets have opened in green on positive global cues from the European and US markets. The Asian markets are also encouraged by the expectation that China may ease its monetary policy . At 7.40 A.M. Indian time, the Nikkei 225 was up 18.73 points and was at 8440.99. The Hang Seng was up 42.09 points and was at 19047.23. The Taiwan weighted was up 10.03 points and was at 7189.91. The Shanghai composite was up 0.40 points and was at 2286.41.

The US markets ended in green yesterday. The market sentiments were bolstered by the news that China may ease its monetary policy. Alcoa announced its results kicking the earnings announcement season. It reported good top-line growth but disappointing bottom-line as it posted a fourth quarter loss. The Nasdaq closed at 2702.5, gaining 25.94 points over the previous day"s closing. The Dow Jones Industrial gained 69.78 points and closed at 12462.47. The S & P 500 gained 11.38 points and closed at 1292.08. The European Markets ended in green yesterday after market sentiments were given a boost by the news that analysts at Fitch believe France and Germany will maintain their top-notch credit ratings in 2012. The DAX gained 105.06 points and closed at 6162.98. The FTSE 100 gained 84.44 points and closed at 5696.70. The CAC was up 83.10 points and closed at 3210.79.

Gold futures ended higher by 1 % to close at $1633 per ounce, while silver prices gained 3.9 % and closed at $ 29.84 per ounce. Crude oil futures gained 1 % to close at $ 102.20 per barrel.

Read more about: bse, nse
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?