The major Indian equity benchmarks started the day of December 11, 2012 in green with a gap-up but could not hold on to the early gains. Due to weakness in midcap and small cap stocks, Indian share markets slipped further. Widening of trade deficit in November accelerated the slide in the second half and operators dumped their long positions in banking stocks as there were hindrances in the passage of the Banking Laws Amendment Bill. Exports declined 4.2 percent year-on-year in November, compared to 1.6 percent decline last month, the seventh straight month of decline. This led the Sensex to close at the level of 19387.14 i.e., down by 22.55 points and the Nifty to close at the level of 5898.80 i.e., down by 10.10 points. The midcap index and the small-cap index closed by more or less one percentage point. On the sectoral front, excepting FMCG all the indices closed in red .While FMCG gained one percent Reality Index and Power Index were the major losers with almost two percent and one percent respectively.
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