Market watch: Cues that will set Nifty's trend today
The Indian market remained listless on Thursday. Investors were sceptical due to stormy beginning of the winter session of Parliament.
November 23, 2012 / 09:29 IST
Moneycontrol Bureau
The Indian market remained listless on Thursday. Investors were sceptical due to stormy beginning of the winter session of Parliament. The Sensex was up 56.96 points to close at 18,517.34. Meanwhile, the Nifty rose 12.95 points and ended at 5,627.75. Winter session of Parliament:The first day of the winter session was a washout. BJP remained adamant on a debate followed by a vote on FDI in retail. Meanwhile, the government decides to call an all-party meeting on Monday. Also read: Market upmove was surprise; no recovery in near-term, say experts Divestment:The government's disinvestment drive gathered steam. CCEA approved a 9.5 percent stake sale in NTPC. The floor price for Hindustan Copper is set at Rs 155 per share.Drug pricing policy:Also, the Cabinet has cleared the new drug pricing policy. The cost of 348 essential drugs will drop by 21 percent on average. But drug companies worry that profitability will take a hit.Stocks in news: DHL Express has fixed a price of Rs 1,720 per share for sale of 6.03 percent stake in its subsidiary Blue Dart Express.Agency reports indicate that Indian Hotels may hike the offer for Orient-Express. Earlier this month, the board of Orient-Express rejected Indian Hotels' unsolicited offer saying in a letter that it was "deeply unattractive from a financial perspective." The promoters of Cinemax are mulling options for sale of shares in the company. The promoters are evaluating the options for sale of shares on the company. However, no definitive agreement has been reached so far. Meanwhile, Firstsource Solutions shareholders approved issuance of 22.68 crore shares to CESC arm.A quick look at global cues.US markets:There were no cues from the US as they were shut yesterday for Thanksgiving.European markets:European markets closed higher for a fourth consecutive session as investors grew more confident that a deal on further aid for Greece could be struck on Monday. Asian markets:At 7: 34 am (IST), Asian markets were trading firm. China's Shanghai Composite was flat at 2,017.50. Hong Kong's Hang Seng was up 0.34% or 73.14 points at 21,816.34. Singapore's Straits Times was flat at 2,986.49. South Korea's Seoul Composite was flat at 1,898.94. Taiwan's Taiwan Weighted gained 1.70% or 120.48 points at 7,226.24.Currency space: The euro hit a two-week high versus the dollar on expectations a Greek funding deal would eventually be agreed. The dollar index was below the 81 mark.Commodities: Brent crude was below USD 111 per barrel levels as concerns over supply eased after a cease-fire took effect in the Gaza Strip.Gold prices were flat at around USD 1,730 per ounce levels.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!
