Parliament's winter session resumes: Will it impact Nifty?
The US markets ended narrowly mixed in lackluster trading on the final day of November, as investors were reluctant to make big bets ahead of the weekend amid ongoing fiscal cliff discussions.
December 03, 2012 / 09:31 IST
Moneycontrol Bureau
USThe US markets ended narrowly mixed in lackluster trading on the final day of November, as investors were reluctant to make big bets ahead of the weekend amid ongoing fiscal cliff discussions. For the week, Dow rose 0.12%, S&P 500 rose 0.50% and Nasdaq rallied 1.46%. The CBOE volatility index finished near 16.Key data to watch out for in US: ISM manufacturing index is expected to remain unchanged at 51.7 levels for the month of November. Meanwhile construction spending could slip marginally to 0.4%.EuropeThe European markets ended mixed in choppy trading as German lawmakers approved a plan to ease the conditions on bailout loans to Greece and amid ongoing discussions over the US budgetEuropean Central Bank president Mario Draghi said that the eurozone crisis is far from over. Addressing top financial officials in Paris today, Draghi said that eurozone countries must tighten budgets and forge a banking union to leave behind the fairy world that allowed problems to grow. Also Read: Reforms face test with parliament voteCredit rating agency Moody's has cut its rating for the euro-zone rescue funds ESM and EFSF to AA1 from AAA following its downgrade of France earlier in November. It said the downgrade of the ESM and the EFSF was prompted by the high correlation in credit risk among the rescue funds and their largest financial supporters.Asia: Asian markets were subdued in morning trade today. Meanwhile, China's November official services PMI inched up to 55.6 from 55.5 in October.At 7: 46 am (IST), Asian markets were trading higher. China's Shanghai Composite was up 0.19% or 3.83 points at 1,983.95. Hong Kong's Hang Seng advanced 0.47% or 104.33 points at 22,134.72. Japan's Nikkei gained 0.80% or 75.16 points at 9,521.17.Singapore's Straits Times rose 0.44% or 13.38 points at 3,083.33. South Korea's Seoul Composite was up 0.36% or 7.04 points at 1,939.94. Taiwan's Taiwan Weighted added 0.40% or 30.23 points at 7,610.40.Back home, it was a firm session for our markets on Friday. The Nifty gained 55 points to close at 5,879. Currency:The euro is subdued versus the dollar above 1.29. The dollar index at 80.20 levelsCommodities:Crude prices rise notching its first monthly gain since August. Brent crude gained 2.3 percent in November. From the precious metals space, gold is at around USD 1715 per ounce.Stocks to watch out for in trade todayCIL board to meet on Dec 12?
Sources indicate that Coal India board could meet on December 12 to discuss FSA, pooling of prices for imported coal. New Acquisition
Mphasis, subsidiary of Hewlett Packard, announced execution of a definitive agreement to acquire Digital Risk LLC. The acquisition is an all cash deal valued at more than USD 200 million, including an earn-out.Issuance of 5.2 crore equity shares to QIBs
Indusind Bank board okayed the issuance of 5.2 crore equity shares at Rs 384 rupees to QIBs. Fund Raising Plans
Thomas Cook will raise up to Rs 200 crores via NCD issue. Auto Sales
In monthly auto sales, Maruti reported a 12 percent growth in sales at 1.03 lakh units. M&M's auto sector volumes increased 18%. Meanwhile Tata Motors disappointed with its volumes declining 13% to 66,500 units on a year on year basis. Other cuesParliament will resume today after no-show last week over the FDI storm. Voting of FDI in retail will take place in both houses this week. Parliamentary affairs minister is confident that all the important bills of the finance ministry will be passed in this session. In its bid to attract more foreign inflows the government has hiked the FII cap debt limit by USD 10 billion. Two new windows of USD 5 billion have been created in government-securities and corporate bonds. The ECB cap remains unchanged.
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