Monday, 24 December 2012

Market Updates and Outlook for today and Coming Week

  • The market may edge higher in early trade on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 28 points at the opening bell.The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month December 2012 series to January 2013 series. The near-month December 2012 derivatives contracts expire on Thursday, 27 December 2012.The stock market remains closed tomorrow, 25 December 2012, on account of Christmas.
  • FMCG and agri-sector stocks will be in focus after the Centre said after trading hours on Friday, 21 December 2012, that as per reports received from different states, sowing of rabi or winter crops is progressing well in different parts of the country. FMCG firms derive substantial revenue from rural India. The total rabi sown area stands at 517.53 lakh hectares (LH) as of 21 December 2012, against 518.88 LH during same time last year.
  • NMDC will be in focus after the Ministry of Steel after trading hours on Friday, 21 December 20012, said NMDC has signed a Memorandum of Understanding (MoU) with Indian Railways. As per the provisions of the MoU, the 150 km Jagdalpur-Kirandul section of the Kottavalsa-Kirandul railway line of the East Coast Railway will be doubled to augment the evacuation capacity of NMDC to meet the increased demand for iron ore of the Indian steel industry. The project will be implemented by Indian Railways at a cost Rs 826 crores and same will be funded by NMDC with provisions for suitable returns through freight rebate, the Ministry of Steel said in a statement. The Railways will additionally make necessary investment in wagons, locomotives, other maintenance facilities and deployment of staff. The new line is likely to create an additional traffic of upto 12 million tonne per annum (MTPA) in a phased manner, the steel ministry said.



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