Indian indices closed in negative for second consecutive week - Religare

The key benchmark indices closed negative in the second consecutive week due to selling pressure by FIIs. Banking and Realty stocks were beaten more and its BSE indices closed 3.42% and 6.49% down respectively.

Going ahead, Q3 December 2013 results from some prominent companies, data on inflation based on the combined consumer price index (CPI) for urban and rural India and data on inflation based on the wholesale price index (WPI), both, for December 2013 will dictate near term trend on the domestic bourses. Trend in investment by foreign institutional investors, trend in other global emerging markets and the movement of rupee against the dollar hold key.

India's exports grew at a sluggish pace of 3.5% to $26.34 billion in December 2013 compared to the same month in the previous year. Overall imports during the month declined 15.25% to $36.48 billion. Despite low export growth, trade deficit stayed on leash dropping to $10.14 billion in December 2013 compared with $17.59 billion in December 2012.

Source : Equity Bulls

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