The Sensex ends up 21.31 points at 21101.03, and the Nifty closes below at 6284.50, up is 10.25 points. About 1579 shares have advanced, 915 shares declined, and 166 shares are unchanged.
The market is holding up gains in the last trading week of the year. The Sensex is up 13.78 points at 21093.50, and the Nifty is up 11.95 points at 6286.20.
About 1521 shares have advanced, 881 shares declined, and 160 shares are unchanged. Bank Nifty outperforms with a 1 percent gain while rate sensitives and metals are also faring well today.
Rupee is going stronger on dollar sales. Bonds higher tracking the fall in US yields and a stronger rupee.
Financial Tech is under pressure as sources indicate that Sebi has issued a show cause notice to the company post FMC order on being fit and proper. Sebi has asked Financial Tech to reply by December 26.
Market in 2014 will depend on the general elections scheduled in May and global cues, Ridham Desai, MD, Morgan Stanley said. In a bull case scenario, one could brace for a 25 percent growth and a bear case could pull it down by the same amount, he told CNBC-TV18 in an interview.
The election verdict is a crucial a market determinant and it is pricing-in a positive election verdict.
However, only a strong election mandate may not trigger a bull market in 2014 because policy reforms that would lift India's growth may not be in place yet, he added. Meanwhile, there could be a positive surprise in the US market in 2014 since the US Federal Reserve is exuding more confidence about the country's growth and US growth could be stronger than what the Fed expects. If US data gets stronger then US bond yields will rise above 3 percent, he added.
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