MARKET EYE-India shares flat; U.S. 'fiscal cliff' solution watched
* The BSE index gains 0.1 percent while the NSE index is up 0.01 percent. * Market is expected to remain volatile until U.S. lawmakers reach a deal on tax-hike threshold and spending cuts, a positive outcome could drive shares in the near term. * Reliance Industries Ltd up 0.8 percent extending its Friday's gains on value buying. * Wipro Ltd shares gain 1.3 percent after the company said the shareholders have approved its demerger plan after a meeting on Friday.
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The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
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