Stock Market Review and Outlook

Indian Market:

Nifty closed tad below 6000 level, after struggling around same level. Weak global cues weighed on markets in second half of trade,AND closed the session with moderate losses after witnessing a consolidation, led by sell-off in metal, telecom.

Ravi Kumar Distilleries will debut on the bourses today, 27 December 2010. The company had priced its initial public offer (IPO) at Rs 64 each, the top end of the Rs 56-64 price band. The IPO was subscribed 2.22 times.

GMR Infrastructure's subsidiary GMR SEZ & Port Holdings has entered into a share subscription and shareholders agreement to subscribe to 51% of the equity share capital of Kakinada SEZ Private (KSPL). KSPL is in the business of developing port based multi product Special Economic Zone at Kakinada, Andhra Pradesh.

Global Cues:

Asian Markets edged higher on Monday even after China's central bank raised interest rates over the weekend in a bid to rein in soaring inflation. China's key stock index Shanghai Composite jumped 1.31% on Monday after the People's Bank of China announced a benchmark interest rate rise over the weekend, the second such increase in two months. The central bank raised official lending and deposit rates by 25 basis points on Christmas Day.

US index futures indicated that the Dow could fall 44 points at the opening bell on Monday, 27 December 2010. US stock markets were closed on Friday, 24 December 2010.

China's inflation jumped to 5.1% in November -- a 28-month high -- despite a crackdown on speculation and repeated moves to curb a flood of money circulating in the economy from massive stimulus spending and bank lending.