Money Dec 27, 2012
The Indian equity markets ended down after a volatile trade on the derivatives expiry day.
Sensex closed at 19324, down 0.48 percent and the Nifty closed at 587o, down 0.60 percent.
Rupee however was trading up at 55.89 against the dollar supported by strong capital inflows into stocks having topped $24 billion so far in 2012, with over $4 billion in December alone.
Added to that, Prime Minister Manmohan Singh struck a downbeat note on the challenges facing the economy on Thursday, dubbing a five-year plan for average growth of 8 percent "ambitious" and warning that business-as-usual policies won't deliver higher growth.
Montek Singh Ahluwalia, deputy chairman of the planning commission, said on Wednesday that the country should aim for an 8 percent average growth over the five years beginning April 2012.
"Growth outcomes will depend upon on the extent to which we are able to take the difficult decisions needed to intervene at key leverage points to generate inclusive growth," he noted.
Stocks in news
Religare closed down 2 percent after the company told CNBC Tv-18 that it plans to launch $250 million PE healthcare fund for Asia and also plans to foray into home loans for affordable housing and agriculture.
Kalpataru Power closed up 3 percent after the company received orders worth Rs 955 crore.
Suzlon closed up 2 percent on value buying after a sharp fall over four trading sessions.
PC Jeweller closed 10 percent up in its stock market debut on Thursday after the company raised Rs 610 crore in an initial public offering as investors bet on strong demand for jewellery sales.
More From Firstbiz Staff.