|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
The market, which posted some big gains last week amid expectations the government will push forward its reforms agenda, will have plenty to look out for during the course of the coming week.
Trading may get off to a cautious and slightly listless start on Monday following Wall Street's subdued close on Friday. But then, the market will soon start reacting to a slew of data.
Investors will watch out for the HSBC India Manufacturing PMI, that gives an indication about the manufacuring activity in November. Markit Econmics will release the data on Monday.
A couple of days later, Markit Economics will release the HSBC India Services PMI and HSBC India Composite PMI.
Shares from automobile and cement sections will be in focus, with sales and shipments data from leading automobile and cement manufacturers setting the trend.
During the middle of the week, on December 4 & 5, to be precise, the Lok Sabha will debate the government's move to allow FDI in multi-brand retail. The proposal will then go for a vote later in the week.
Another event to look forward to is the tabling of the Banking Laws (Amendment) Bill 2011. The bill, if passed, will raise voting rights of large shareholders in private banks to 26% from the existing 10%.
News out of the U.S., particularly with regard to the government's steps to avoid the fiscal cliff, will be eyed. Investors will also scout reports from the European region and parts of Asia for cues.
The market is trading at a 19-month high now. More gains are not ruled out in the near term. Sustained buying by foreign institutional investors contributed substantially to the market's recent strong upmove. As long as this set of investors stay rooted to the ring, the market is unlikely to see a significant slide from current levels. Some profit taking is not ruled out altogether.