After trading in the negative territory during post noon trading session, the Indian equity markets recouped losses and closed the day in the green. While the BSE Sensex today closed higher by 127 points, the NSE-Nifty closed higher by 39 points. Midcaps and Smallcaps too closed in the green today. While the BSE Mid Cap index closed higher by 0.58%, the BSE Small Cap index closed higher by 0.83%. Capital Goods and FMCG stocks were the biggest gainers today.
As regards global markets, Asian pack closed mixed today. The rupee was trading at Rs 62.25 odd levels to the dollar at the time of writing.
Mining stocks have ended the day on a weak note. The stock of Coal India was under pressure in today's trade ahead of a probable divestment by the government this fiscal. It may be noted that apart from privatization of coal blocks, stake sale was one of the reasons why the organization's workers recently went on strike. However, as per reports, the power minister has been able to convince the workers to call off strike. It may be noted that a 10% stake sale is on the cards (government owns about 90%) and if it goes through, this would be India's biggest ever share sale.
The industrial output for the month of November is expected to rise to 2.2% after declining by 4.2% in the month of October. The decline in the month of October was because of a slowdown in manufacturing. However, apart from a rise in industrial output, an indication that economy has started moving, even CPI for the month of December is likely to rise, albeit marginally. The CPI for the month of December is likely to be 5.2% as compared to 4.38% in the previous month. A rise in CPI will deter RBI in cutting rates.