Indian Markets
The Indian markets opened the first trading session of 2012 on a rather subdued note before climbing marginally in early morning trade. The Advance-Decline ratio on the BSE is favorable for the bulls so far as the broader indices are keeping pace with their Large-Cap peers. Overall, the undertone remains cautious amid persistent challenges confronting the domestic as well as global economy.
The BSE Mid-Cap and Small-Cap index was trading flat. Auto, Consumer Goods, Metal, PSU, Bankex,HC, Power indices are the gainers. Realty, IT and FMCG indices are the losers.
RIL, ICICI Bank, L&T, M&M, Coal India, Bharti Airtel, BHEL, RCOM, Maruti,ONGC,Sterlite were among the notable leaders in the Sensex and the Nifty.
Infosys, DLF, Tata Steel, Tata Power, HUL, NTPC, Sun Pharma,HDFC Bank, HDFC, were among the notable losers in the Sensex and the Nifty.
US and European Markets
Stocks finished little changed on Friday. Dow Jones fell 69 points, or 0.6%. The S&P 500 dropped 5 points, or 0.4%, and Nasdaq fell 9 points, or 0.3%. At its peak in April, S&P had climbed more than 8%. Dow, meanwhile, rose 5.5% for the year, and Nasdaq lost 1.8%.
European stock markets ended in the green on the last day of the year. Britain's FTSE 100 finished up 0.1%, Germany's DAX edged up 0.9% and France's CAC 40 rose 0.4%. But for the year dominated by Europe's debt crisis, all three indexes ended in the red.
Asian Markets
Today the Asian indices are trading in the red except Shanghai, which is up 1.2%. Taiwan and Kospi are down by 0.9% and 0.3% respectively. SGX Nifty is trading higher by 14 points.
Currencies
The Indian rupee appreciated by 0.2% on Friday vs the Dollar.
Commodities
Among the metals, Copper and Nickel gained 2.5% and 1.7% respectively. Zinc ended higher by 1.4% while Aluminium rose by 0.4%. Oil for February delivery fell 82 cents to settle at $98.83 a barrel. Crude prices rose more than 8% in 2011, marking the third consecutive years of increases. Gold futures for February delivery added $25.90, or 1.7%, to settle at $1,566.80 an ounce.
Key events to watch for today
India - HSBC India manufacturing PMI
Outlook
Today, the Indian market is likely to open in the green and take cues from European markets. Among the sectoral indices, Metal stocks could outperform.
Source- RH Morning market update, HDFC SEC
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