Up or Down: 10 cues that will decide today's mkt trend
In the US markets, stocks declined marginally on Friday but ended higher for the week as the market digested a mixed employment report.
January 10, 2011 / 09:17 IST
In the US markets, stocks declined marginally on Friday but ended higher for the week as the market digested a mixed employment report.
The non-farm payrolls data increased less than expected 103,000. Meanwhile, there was a surprise drop in the headline unemployment rate to 9.4% from 9.7%, but the drop is most likely due to lower participation, the expiration of unemployment benefits, and even some seasonality effects.European markets fell slightly on Friday, as worries about the euro zone intensified ahead of debt auctions this week and US jobs data.In the currency space, the Dollar Index held the 81 mark as the euro continued to be under pressure after hitting its lowest level against the greenback in nearly four months on Friday. In commodities, oil prices fell in volatile trade as the stronger dollar and a stock market slide in US erased earlier gains, and crude started the year with a weekly loss. In the precious metals space, gold witnessed its biggest weekly decline since May falling below USD 1,369 an ounce on Friday.And back home, for our markets, it was a disastrous Friday. The Sensex nosedived close to 500 points while Nifty ended at 5,904. For the week the key indices closed down 4%.The Patni promoters are likely to sign deal with iGate today. And as per CNBC-TV18 report, the deal may be sealed at around one billion dollars including the open offer.HCC will be in focus as the leader of the environment ministry's inspection team in Lavasa said that there is prima facie no evidence of large scale destruction of forests or of water supply disruption to Pune.In primary market action- the Midvalley Entertainment IPO opens today. The issue has been priced between Rs 64-70 and closes on Jan 12.In action from the sporting arena day two of the IPL auction ended yesterday with young players laughing their way to the bank with the biggest bids. Meanwhile it was tough luck for seasoned players like Sourav Ganguly, Brian Lara, Chris Gayle & Sanath Jayasuriya who remained unsold. Gautam Gambhir was the most priced player of this year's IPL auction after being bought by Kolkata Knight Riders for massive USD 2.4 million. Yusuf Pathan and Robin Uthappa went for another whopping USD 2.1 million. While the Victorian glovesman Mathew Wade was bagged by Delhi daredevils for 100,000 dollars. 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!
