Nifty closes near 4950; IT, capital goods down
                                          
                                             World stock markets tumbled on Thursday as investors fretted over the debt problems at Dubai World, a government investment company


Markets are usually relatively quiet when Wall Street is closed for a holiday, as it is Thursday for Thanksgiving Day. Not so today, as the rest of the world digested the stunning news from Dubai that the government's flagship investment company was in financial trouble.

National Stock Exchange’s Nifty ended at 4942.40, down 63.15 points or 1.26 per cent. The index touched an intraday low of 4806.70 and high of 5005.05.



Bombay Stock Exchange’s Sensex closed at 16,647, down 207.93 points or 1.23 per cent. The 30-share index hit a low of 16210.44 and high of 16718.80.

BSE Midcap Index was down 1.31 per cent and BSE Smallcap Index declined 2.12 per cent.

Amongst the sectoral indices, BSE IT Index was down 2.38 per cent, BSE Capital Goods Index fell 1.71 per cent and BSE Metals Index slipped 1.44 per cent.


Nifty gainers comprised Suzlon (7.32%), Ranbaxy Laboratories (2.87%), Unitech (2.59%), BPCL (2.22%) and GAIL (1.17%).

Among Nifty losers, Siemens (-5.65%), IDFC (-4.06%), Axis Bank (-3.42%), Ambuja Cements (-2.99%) and JP Associates (-2.87%) were the worst hit.

Market breadth on BSE was extremely negative with 2003 declines against 740 advances.

Sensex moves higher; Oil & gas, FMCG up

Indian markets held on firmly to early morning gains Monday led by gains in oil&gas and index major Reliance Industries. Most sectoral indices were in the green with an exception to IT space which remained subdued. “If Nifty maintains above 5080 for some days then it’s quite clear that Nifty is headed towards the 5200-5350 in coming days. Support for the Nifty is placed at 4940-4870 and unless Nifty breaks this support area then we don’t see any threat to this current uptrend,” said Nirmal Bang report. At 12:22 pm, Bombay Stock Exchange’s Sensex was at 17,162.06, up 140.21 points or 0.82 per cent. The index touched an intraday high of 17180.68 and low of 17045.02. National Stock Exchange’s Nifty was at 5099.20, up 46.75 points or 0.93 per cent. The broader index retreated after touching intraday high of 5104.55. It touched a low of 5052.10 in trade so far. BSE Midcap Index was up 0.49 per cent and BSE Smallcap Index moved up 1.06 per cent. Amongst the sectoral indices, BSE Oil&gas Index jumped 2.46 per cent, BSE FMCG Index moved 1.44 per cent higher and BSE Healthcare Index gained 0.83 per cent. BSE IT Index was down 0.26 per cent. Shares of Reliance Industries were reacting to the company’s offer for ല്യോന്ടെല്ല്‍ബസേല്‍

(EconomicTimes )

India will be the third largest economy in the world
Top 10 challenges for IndiaWorld's most admired countriesWorld's top 20 countries to liveforeign-policy think tank has said. An article "The G20 in 2050", carried in November bulletin of the Carnegie Endowment for International Peace said, "China, India, and the United States will emerge as the world's three largest economies in 2050. Their total GDP, in real US dollar terms, will be over 70% more than that of the other G20 countries combined." Other main findings include, China will become the world's largest economy in 2032, and grow to be 20% larger than the United States by 2050. Over the next forty years, nearly 60% of G20 economic growth will come from Brazil, China, India, Russia, and Mexico alone. The article was written by Uri Dadush and Bennett Stancil. A Frenchman and former director of World Bank, Dadush is the director of the International Economics Programme .

The market saw an extremely volatile session today and closed at the high point of the day. After a disastrous start, post the home minister's disinvestment comments and government's rejig on the direct tax code saw the market recover. The short covering rally today was led by realty, metal and IT stocks. Sensex shut shop at 16063, up 151 points and Nifty at 4765, up 54 points from the previous close. CNX Midcap index was up 2.10% and BSE Smallcap index was up 1.91%. The market breadth was positive with advances at 948 against declines of 310 on the NSE. Top Nifty gainers included Suzlon, Reliance Capital and GAIL while losers were Ambuja Cement, ACC and ITC.