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| December 13, 2013 | 5:30 PM
| Stocks fall for 4th day on rate hike fears
Indian shares fell for 4th straight day on fears of rate hike by the central bank next week after consumer price inflation in November remained in double digits. The BSE Sensex slipped 1.00% and the Nifty was down by 1.10% |
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| Major headlines |
| | | Events for Monday (December 16, 2013):
Wholesale Prices Inflation data to be released YoY
Indian Indices:
Markets witnessed another weak trading session as rate sensitive stocks slumped after sharply higher food prices drove up retail inflation to 11.24% in November raising expectations of a rate hike by the central bank when it meets on December 18 for monetary policy review. The sentiments were further dampened after Reserve Bank of India Governor Raghuram Rajan said on Thursday that there was not much room to indulge in monetary policy accommodation, given inflation was high.
Market opened lower on Friday as two sets of data released on Thursday showed a sharp spike in retail inflation and a worse-than-expected contraction in industrial production. As a result, market players expect the central bank to increase the repo rate by at least 25 basis points to 8% - exactly the level at the beginning of this year. The broader markets too ended lower with BSE Small-cap down by 0.95% and Mid-cap up by 1.26%.
On currency front, the rupee continued to trade weaker by 40 paise at 62.26/10 versus its close of 61.81/82 on Thursday as higher-than-expected retail inflation pushes up expectations of a rate hike by the central bank at its upcoming monetary policy review on December 18.
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INDEX PERFORMANCE |  |
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| MARKET INDICATORS |
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Aurobindo Pharma | 309.85
| 3.99 |
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| Jaiprakash Associates |
51.10 | -5.72
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| Torrent Power |
109.25 | -5.70
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The Sensex touched day's low of 20692.67 while the 50-share Nifty slipped below 6200 mark, to hit intraday low of 6161.40.
The S&P BSE Sensex shed 210.03 points to close at 20715.58 while Nifty slipped 68.65 points to end at 6168.40
Following are the stocks/sectors which were in news today: -
Mahindra & Mahindra rose 0.61% after the company announced that it would be raising the prices of its passenger as well as its commercial vehicles by up to 2%.
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Bharti Airtel reverses trend and slipped by 0.76% after a foreign brokerage upgraded its rating on the stock to outperform from underperform.
| Market sentiment
The market breadth stood in favor of declines. Of the 2610 stocks traded on the BSE, 883 (33.83%) rose, 1575 (60.34%) fell and 152 (5.82%) stocks remained unchanged.
| Sectoral & stock screening
All the 13 sectoral indices closed in the red zone. Top Losers- S&P BSE Bankex down by 2.25%, S&P BSE CG fell by 1.86%, S&P BSE Realty down by 2.10%.
Among 'A' group stocks, top three gainers - Aurobindo Pharma rose by 3.99%, IPCA Lab gained by 2.88% and Tata Motors up by 2.68%. Top three losers - Jet Airways declined by 7.04%, JP Associates down by 5.72% and Torrent Power fell by 5.70%. |
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Global signals
US stock index futures poised for a higher opening at the Wall Street on Friday.
European shares were holding at two-month lows on Friday and are set for their worst fortnight since June, weighed down by a decline in RSA and by concern over the U.S. Federal Reserve's stimulus programme.
Japanese shares led most Asian markets higher on Friday as the dollar edged towards a multi-year high against the yen. |
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| Commodity Hit List for 13-12-2013 - Evening session
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| | Support Levels |
LTP |
Resistance Levels | Action |
| S2 |
S1 | R1 |
R2 | |
Gold Cash USD ($) |
1200.00 |
1222.00 | 1225.30
| 1231.00 |
1244.00 |
Buy Above R1/Sell below S1 | |
Gold MCX Feb |
29000.00 | 29150.00
| 29223.00 |
29300.00 |
29456.00 | Buy Above R1/Sell below S1
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Silver Cash USD ($) |
18.89 | 19.29
| 19.45 |
19.53 |
19.81 | Buy Above R1/Sell below S1
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Silver MCX Mar | 43130.00
| 44051.00 |
44400.00 |
44860.00 | 45970.00
| Buy Above R1/Sell below S1 |
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Copper MCX Feb | 454.60
| 456.80 |
458.75 |
461.20 | 471.00
| Buy Above R1 |
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Zinc MCX Dec | 120.30
| 120.70 |
121.40 |
122.10 | 122.65
| Buy Above R1 |
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Nickel MCX Dec | 847.00
| 862.00 |
869.70 |
877.00 | 889.00
| Buy Above R1 |
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Aluminium MCX Dec |
108.70 | 109.30
| 109.65 |
110.00 |
110.70 | Buy Above R1
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Lead MCX Dec | 131.10
| 131.50 |
131.90 |
132.30 | 132.70
| Buy Above R1 |
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Crude Oil USD ($) |
96.40 | 97.10
| 97.53 |
98.17 |
98.74 | Buy Above R1
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Crude Oil MCX Dec |
6039.00 | 6050.00
| 6067.00 |
6084.00 |
6143.00 | Buy Above R1
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Natural Gas MCX Dec |
267.00 | 270.20
| 271.60 |
273.20 |
276.00 | Buy Above R1
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