Sensex sheds 274 points; cues from West to set market tone
09 Dec 2011
The Indian markets ended this week on a fragile note ahead of the action-packed events lined-up for the upcoming week. Sensex gave up most of its gains it recorded last week.
The Sensex shut shop at 16213.46 down 274.78 points or 1.67% at 16213.4 and the Nifty closed at 4866.70 down 76.95 points or 1.56%. About 1131 shares advanced, 1811 shares declined, and 797 shares remain unchanged.
Nifty opened well below 4900 mark and persisted to trade sluggishly for most part of the trading session.
Asian markets too ended on a weak note. The EU summit failed to secure the full backing of the 27 nations for treaty changes to help fight euro-zone debt crisis.
"The much awaited EU summit has been concluded and the final outcome will shape the market trend for Monday." says Shanu Goel of Bonanza.
The next week will be action-packed for the markets. The IIP numbers will be announced on 12 December, Nov monthly inflation figure will be announced on 14 December, third advance tax installment is due on 15 December, which are likely to provide cues for Q3FY12 earnings and monetary policy is scheduled for December 16th.
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