Market watch: Cues that will decide Nifty's trend today
The Indian market began the week on a flat note. The Sensex ended up 42 points at 15,284 on Monday. The Nifty closed up 9 points at 5,857. A quick look at global and local cues.
December 26, 2012 / 09:37 IST
Moneycontrol Bureau
The Indian market began the week on a flat note. The Sensex ended up 42 points at 15,284 on Monday. The Nifty closed up 9 points at 5,857. A quick look at global and local cues.US markets:US stocks closed lower in a shortened session on Monday as investors continued to worry that Congress would be unable to reach a deal to avert the "fiscal cliff."The Dow Jones industrial average was down 51.76 points, or 0.39 percent, at 13,139.08. The Standard & Poor's 500 Index was down 3.49 points, or 0.24 percent, at 1,426.66. The Nasdaq Composite Index was down 8.41 points, or 0.28 percent, at 3,012.60.Check out: Prabhudas Lilladher's stock bets for 2013Fiscal cliff:Less than a week to go before the fiscal cliff deadline, however, there have not been any talks since the US president Barack Obama left for vacation on Friday and there are none scheduled either. The Senate reconvened on Thursday. The House of Representative could be called back within 48 hours after that. Income taxes are set to return to Clinton era levels on January 1 while a USD 110 billion in spending cuts are due to kick in the day after.Key data to watch out for in the US today:
The S&P/Case-Shiller Home Price Index is expected to rise 0.5 percent for the month of October. Also watch out for weekly mortgage applications data.European markets:European stocks closed slightly lower in a shortened day of trading.Asian markets:At 7: 50 am (IST), Asian markets were trading firm. Japan's Nikkei rose 0.43% or 43.02 points at 10,123.14. Singapore's Straits Times was up 0.26% or 8.25 points at 3,176.82. South Korea's Seoul Composite gained 0.73% or 14.43 points at 1,996.25. Taiwan's Taiwan Weighted added 0.29% or 22.15 points at 7,658.72. China's Shanghai Composite was down 0.10% or 2.25 points at 2,211.36. Hang Seng shut today.Currency space: The euro continued to remain below 1.32 to the dollar. The dollar index is around 79.70 levels. Commodities: Brent crude prices were flat at USD 109 per barrel levels as US budget talks stay deadlocked. Gold was trading around USD 1,652 per ounce.Stocks in news: Grounded carrier Kingfisher Airlines has filed a revival plan with the airline regulator, a senior government official said on Tuesday, in an effort to renew its operating license before it expires at the end of the year.Kingfisher, which has not flown since October, has estimated debts of $2.5 billion and owes money to banks, airports, tax authorities, plane leasing companies, and its staff.Care IPO will list today. It is likely to list around Rs 900. It is issue price was at Rs 750.Lanco Infra is Looking at suitable investors for thermal/hydro plants. It has appointed consultants for sale of thermal/hydro plants.Adani Power has no concrete proposal from Lanco for selling Udupi plant.Vini Amesar.
vini.amesar@network18online.com Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
