Markets recover to end the week with minor gains, up 69 points

The lacklustre trading week saw the market ending with minor gains, with benchmark Sensex garnering 69.19 points to 28,668.22, while the broader Nifty rising by 51.70 points to finish at 8,831.55.
Trading started on sombre note as the investor minds restricted by the policy decision of key central banks of Japan and US looming the sentiment as the consolidative trading week largely supported by global cues amid crude oil prices.
The Bank of Japan keeping the interest rates steady adding new policy measures expansion to fight deflation led heavy bouts of shortcovering soon to be washed-out in the fag-end.
The real recovery for the domestic market came after the US Fed's decision to keep interest rates unchanged and subsequent global rally bolstering the investors sentiment allaying the fear FII liquidity stake at the moment.

However, the rally was pulled-down during the weekend on lower global cues after crude oil prices turned volatile, also profit booking in recently gained Banking sector amid looming futures and options derivative expiry next week led the key indices to end the week with mild gains.
The Sensex resumed higher at 28,626.60 and hovered between a high of 28,871.92 and low of 28,462.33 before closing the week at 28,668.22, showing a gain 69.19 points or 0.24 per cent.

The NSE Nifty also gained by 51.70 points, or 0.59 per cent, to 8,831.55, after moving between a high of 8,893.35 and 8,757.30.

Buying was seen in Metals, Oil&Gas, Realty, IPOs, PSUs, Consumer Durables, Auto, Capital Goods, HealthCare, Power, Teck and Bankex well supported by second line shares of midcap and smallcap companies shares.
Meanwhile, foreign portfolio investors (FPIs) and
foreign institutional investors (FIIs) bought shares worth Rs 2,680.10 crores during the week, as per Sebi's record including the provisional figure of September 23.
In the broader market, the BSE Mid-Cap index rose 281.46 points or 2.16 per cent to settle at 13,331.97. The BSE Small-Cap index rose 194.03 points or 1.52 per cent to settle at 12,958.90. Both these indices outperformed the Sensex.

Among sectoral and industry indices, Metal rose by 3.46 per cent, followed by Oil&Gas to 3.08 per cent, Realty 1.92 per cent, Consumer Durables 1.42 per cent, Auto 0.99 per cent, Capital Goods 0.86 per cent, Healthcare 0.84 per cent, Power 0.53 per cent, Teck 0.10 per cent and Bankex 0.08 per cent.
However, FMCG fell by 1.45 per cent and IT by 0.26 per cent.
Among the 30-share Sensex, 19 rose, 10 shares fell and one stock was unchanged during the week.
State-run ONGC was the biggest Sensex gainer last week. The stock rose 3.66 per cent to Rs 260.50. It was followed by Tata Steel 3.58 per cent, Cipla 3.00 per cent, Asian Paints 2.89 per cent, Reliance 2.54 per cent, NTPC 2.28 per cent, HDFC 1.87 per cent, ICICI Bank 1.59 per cent and TCS 1.53 per cent.

Axis Bank was the top Sensex loser last week. The stock fell 7.28 per cent to Rs 557.40. The bank signed a Share Purchase Agreement with IFCI for acquisition of 73.28 lakh equity shares (13.67 per cent of total outstanding shares) of face value of Rs 10 per share in Assets Care and reconstruction Enterprise (ACRE) from IFCI at Rs 31 per share, resulting in a total cash consideration of Rs 22.72 crore. It was followed by Lupin 3.70 per cent, ITC 2.52 per cent and Bajaj Auto 1.82 per cent.
Bullion: Gold continued its downtrend for the seventh
week in a row at the domestic bullion market here today owing to persistent stockists and investors selling on the back of bearish global cues.

Gold demand in India remained subdued this week despite a sharp fall in prices to over 10-1/2 month lows as a severe cash crunch and holidays kept buyers away from the market.
Standard gold shed a whopping Rs 3,380 per 10 grams for the seventh week in a row.
Silver declined further this week and remained below the Rs 40,000-mark to close yesterday at Rs 39,215 per kg (The level that has not been seen since June 07, 2016) following hectic selling pressure from speculators and stockists coupled with reduced industrial offtake.
In worldwide trade, gold edged higher yesterday as the dollar retreated from this week's 14-year high and some buyers were tempted to take advantage of prices near a 10-month low after six weeks of decline. Volumes were thin as traders prepared for a long weekend. Markets will be shut on Monday for the "Christmas" holiday.

In the New York Comex trade, gold for delivery in
February tanked to USD 1,132.24 an ounce as compared to last Friday's level at USD 1,137.40, while silver for March also fell USD 15.721 an ounce from USD 16.185.
On the domestic front, standard gold (99.5 purity) resumed higher at Rs 27,410 per 10 grams from last Friday's closing level of Rs 27,350 and moved in a range of Rs 27,415 and Rs 27,205 before finishing at Rs 27,280, revealing a loss of Rs 70, or 0.26 per cent.
Pure gold (99.9 purity) also commenced higher at Rs 27,560 per 10 grams as compared to preceding weekend's level of Rs 27,500 and hovered in a range of Rs 27,565 and Rs 27,355 before concluding at Rs 27,430, showing a loss of Rs 70, or 0.25 per cent.

Oils and Oilseeds: Edible oils decline, elsewhere,
non-edible oils rule steady. Linseed oil drops further at the Vashi oils and oilseeds wholesale market during the week under review.
Groundnut oil declined following lower demand from stockists and retailers amidst ample supply position from producing region.
Refined palmolein prices also slipped owing to weak demand from retail buying activity.
Castorseeds bold and castoroil commercial held stable in absence of any worthwhile buying.
Linseed oil drifted further due to reduced demand from paint and allied industries.
Turning to edible oils segment, groundnut oil resumed steady at Rs 1,000, later fell to finish at Rs 980 from Last weekend level of Rs 1,000, showing a fall of Rs 20 per 10kg.

Refined palmolein opened higher at Rs 618, but later moved down to settle at Rs 610 as against its previous level of Rs 615, showing a marginal loss of Rs 5 per 10kg.
Moving to non-edible section, castorseeds bold commenced higher at Rs 3,780, later moved down to conclude at its prceeding level of Rs 3,760 per 100kg.
Castoroil commercial also opened higher at Rs 786 and later edged down to finish at its weekends level of Rs 782 per 10kg.
Linseed oil resumed steady at Rs 1,000, after that ended lower at Rs 950 from last Saturday's level of Rs 1,000, a loss of Rs 50 per 10kg.