Closing Summary- Market Synopsis- 23 December, 2011

The two-day relief rally came to an end with the market reversing its early gains and main stock indices closing with modest losses. Persistent worries about the bleak macro-economic scenario and its possible implications on corporate earnings going forward weighed on the investor sentiments. Though the overall mood in the overseas markets was positive, the trading volumes were thin due to the upcoming Christmas holidays.
The market ended the week on a subdued note. The Sensex ended at 15,731, down 82 points and the Nifty closed at 4,714, down 20 points. The midcap closed flat whereas, the small-cap closed positive by a percentage point.The trend is expected to continue in the coming week as well with many markets shut for extended year-end holidays. The ones that will be open will see light trading and choppy movements. For the Indian markets, next week will be important given the F&O expiry on Thursday. Trading is expected to remain volatile amid lack of positive cues from the global markets.
(Pic. Source- bseindia.com)