Next week is again very important with key events for our markets.The IIP data will be announced on December 12, followed by November monthly inflation on December 14 and RBI monetary policy review on December 16.
The IIP data for October will be out on Monday. The number is likely to be a pretty dismal one with one national daily actually reporting a 7% contraction.
Latest inflation report will be released on Dec. 14 and the RBI will take up its review on Dec. 16. A pause is what the RBI had predicted at its previous meeting. But, one has to see what stance the central bank takes as the rupee's depreciation has made things worse with cost of imports shooting up sharply.
Global factors will also remain in focus. Investors will closely analyze and examine the EU Summit outcome to gauge if the debt-strapped eurozone can finally fix its long-running problems. Any news on rating downgrade(s) may dampen the mood.
Though valuations of Indian equities may appear reasonable, most investors are not willing to take the bait just yet. The near-term outlook will hinge on political developments and overseas markets. Also watch out for the advance tax numbers, trend in FII flows and the rupee.
Benchmark Indices | |||
| Index | 2-Dec-11 | 9-Dec-11 | % Change |
| Sensex | 16846.83 | 16213.46 | -3.76 |
| Nifty | 5050.15 | 4866.7 | -3.63 |
| Hang Seng | 19040.39 | 18586.23 | -2.39 |
| Nikkei | 8643.75 | 8536.46 | -1.24 |
| Shanghai | 2360.66 | 2315.27 | -1.92 |
| Dow Jones* | 12020.03 | 11997.7 | -0.19 |
| S&P 500* | 1244.58 | 1234.35 | -0.82 |
| NASDAQ* | 2626.2 | 2596.38 | -1.14 |
| Bovespa* | 58143.4 | 57455 | -1.18 |
| FTSE* | 5568.46 | 5483.77 | -1.52 |
| DAX* | 6131.51 | 5874.44 | -4.19 |
| CAC* | 3181.68 | 3095.49 | -2.71 |
| *Closing till Thursday | |||
Currency Rate | |||
| Index | 2-Dec-11 | 9-Dec-11 | % Change |
| USD | 51.43 | 52.06 | 1.22 |
| EURO | 69.35 | 70.08 | 1.05 |
| GBP | 80.66 | 81.94 | 1.59 |
| JYP (per 100) | 66.05 | 67.15 | 1.67 |
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