Markets end marginally lower

ITC, TCS among top Sensex losers

Markets ended marginally lower on the last trading day of 2012, amid a range bound session, with ITC and TCS leading the decline.

The 30-share Sensex provisionally ended down 27 points at 19,418 and the 50-share Nifty ended down 3 points at 5,905.

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(Updated at 14:34Hrs)

Markets continued to trade in red as investors were worried that US lawmakers might not reach a deal in time to avert the fiscal cliff due to begin taking effect from tomorrow. The Sensex is down 26 points at 19,418. Nifty has slipped 8 points at 5,900.

Meanwhile, painting to better picture for 2013, Morgan Stanley analysts expect Sensex companies to grow 10.8% on a year on year basis in FY2013 as against the consensus estimates of 8.3%. It also expects Sensex companies to grow 14.2% in FY2014 as against the consensus estimates of 13.9%.

Most markets in Asia remained closed on account of year end holidays. However, concerns over the US 'fiscal cliff' continued to weigh on market sentiment. The Shanghai Composite was up 1.6% and KLSE Composite was down 0.12%.

Indian companies will start unveiling Q3 December 2012 results from mid-January 2013. Infosys announces Q3 results on 11 January 2013 while  HDFC Bank unveils Q3 results on 18 January.

BSE realty index jumped 1.13% to 2,113. Consumer durables, PSU and power shares were also in the green.

Auto stocks were mixed ahead monthly sales data for December 2012. Tata Motors has added 0.7% at Rs 312. Hero MotoCorp and Mahindra & Mahindra also advanced marginally.

The Ministry of Agriculture said after trading hours on Friday that the sowing of rabi or winter crop is picking up. The sowing of coarse cereals and oilseed crops is higher, the statement from the ministry said. FMCG shares however, slipped marginally. ITC was the biggest loser among Sensex stocks - down 1% at Rs 287. Hindustan Unilever managed to hold on to gains and went up 1% at Rs 526.

IT stocks were mostly lower amid concerns about upcoming US fiscal cliff. BSE IT index traded at 5,680 - down 0.12%. TCS and Infosys shed half a per cent each. On the other hand, Wipro added 1.4% to Rs 397.

From the gainers  - Tata Power, Hindalco, ONGC, Gail And NTPC were noticeable. On the other hand, HDFC dropped 0.6% at Rs 827, followed by Cipla, Maruti Suzuki, Larsen & Toubro and Sun Pharma.