Indian Market:
Nifty snapped four-day winning streak on Tuesday and closed the rangebound session with moderate losses; it saw consolidation around 6150 level. The sell-off in financial, telecom, capital goods, auto and realty companies' shares weighed on markets.
30-share BSE Sensex closed at 20,498.72, with loss of 62.33 points and the 50-share NSE Nifty fell 11.25 points to settle at 6,146.35. Even the Nifty January futures' premium trimmed to 12 points from earlier 20-25 points.
Bank index was at 13,121.12, down by 333.16 points or by 2.48%. Realty index was at 2,838.54, down by 32.05 points or by 1.12%. Consumer Durables index was at 6,416.70, down by 37.94 points or by 0.59%, FMCG index was at 3,755.72, up by 62.69 points or by 1.70%
GAIL (India) has reportedly entered into an agreement with Oil and Natural Gas Corporation (ONGC), under which it will exclusively purchase and market the natural gas produced from the latter's various fields during the next three years
Global Cues:
Asian markets rose for the second straight trading day of the New Year on Tuesday, 4 January 2011 buoyed as global shares resumed their rally on stronger global manufacturing data. The key benchmark indices in China, Hong Kong, Indonesia, Japan, South Korea, Singapore and Taiwan rose by between 0.12% to 1.42%.
European stocks climbed, extending the Stoxx Europe 600 Index's biggest advance in almost two weeks as mining shares rallied. Asian stocks also advanced, while U.S. futures were little changed.
U.S. stocks greeted the new year with a rally on Monday as encouraging signs about the outlook for manufacturing around the world prompted investors to inject new money into the market.
U.S. manufacturing grew at its fastest pace in seven months in December, extending a recent run of encouraging economic data and suggesting that expansion of the world's biggest economy will accelerate in 2011
