Pre Session : FIIs provide strong support to Indian markets in January Analysis for Jan 23, 2012

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The sentiments of Indian markets today are slightly hit by the results of Reliance Industries limited which were below the expectations of the markets. The markets look forward with anticipation to tomorrow"s RBI monetary policy review meeting and this will have an effect on sentiments today.

January has till now proved to be an exceptionally good month for Indian markets. They are off to their best yearly start in more than a decade. One reason for this is the strong support given by FIIs which have brought in net inflows of close to USD 1.2 billion in 2012. On Friday also, FIIs were net buyers and if this trend continues today also, the markets will receive important support.On the corporate front, results of companies like L & T will come today and its shares will therefore see movement.

Indian markets are getting positive cues from Asian markets today. Most of the Asian markets have opened in green in spite of weak cues from the European and US markets. The US markets ended on a mixed note on Friday. While many other companies results beat the expectations of the markets, those of Google fell short of that. Positivity was injected by December home sales data which was above the expectations of the markets. December existing home sales, came at an annualized rate of 4.61 million units. Most of the European Markets ended in red on Friday. The euro slipped just 0.2% against the greenback, but still settled the week with a 2.0% gain at $1.29.

On Friday, the BSE SENSEX closed at 16739.01 up by 95.27 points or by 0.57 % and then NSE Nifty ended at 5048.6 up by 30.2 points or by 0.6 %.The BSE MIDCAP closed at 5680.07 up by 10.08 points or by 0.18 %, while the BSE SMLCAP ended at 6277.27 up by 5.04 points or by 0.08 %.The BSE Sensex touched intraday high of 16788.48 and intraday low of 16611.71 The NSE Nifty touched intraday high of 5064.15 and intraday low of 5004.3.

The net investments by FIIs on 20th January, 2012 in Indian capital markets stood at Rs 877.60 crore. The net FII investments were positive on Friday.

The gross purchases by the FIIs in the Indian equity markets were of Rs. 2822.60 crore. The gross sales were of Rs. 2125.00 crore. The net investment in the equity markets by FIIs on January 20th , 2012 stood at Rs 697.70 crore.

The gross purchases by the FIIs in the Indian debt markets were of Rs 479.50 crore. The gross sales by FIIs were of Rs 299.60 crore. The net investment by the FIIs in the debt markets stood at Rs 179.90 crore.

Today, most of the Asian markets have opened in green in spite of weak cues from the European and US markets. At 7.40 A.M. Indian time, the Nikkei 225 was up 15.80 points and was at 8782.16. The Hang Seng was up 167.42 points and was at 20110.37. The Shanghai composite was up 23.04 points and was at 2319.12.

The US markets ended on a mixed note on Friday. While many other companies results beat the expectations of the markets, the results of Google fell short of that. Positivity was injected by December home sales data which was above the expectations of the markets. December existing home sales, came at an annualized rate of 4.61 million units. The Nasdaq closed at 2786.7, losing 1.63 points over the previous day"s closing. The Dow Jones Industrial gained 96.50 points and closed at 12720.48. The S & P 500 gained .88 points and closed at 1315.38.

Most of the European Markets ended in red on Friday. The euro slipped just 0.2% against the greenback, but still settled the week with a 2.0% gain at $1.29. The DAX lost 11.87 points and closed at 6404.39. The FTSE 100 lost 12.60 points and closed at 5728.55. The CAC was up down 7.44 points and closed at 3321.50.

Gold futures ended higher by 0.5 % to close at $1663.60 per ounce, while silver prices gained 3.9 % and closed at $ 31.73 per ounce. Crude oil futures lost 2.1 % to close at $ 98.25 per barrel.

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