The broader sharemarket gained too with the BSE Midcap and Smallcap indices rising 0.5 percent each. Nearly two shares advanced for every share declining on the Bombay Stock Exchange.

In a fresh sign of a slowdown in China`s economy, the final China HSBC PMI for December indicated manufacturing contracted for the first time in seven months, with both output and new orders declining. The final reading came in at 49.6, up slightly from the 49.5 preliminary reading of 49.5 from HSBC/Markit, but still lower than November`s 50.0. A reading above 50 indicates growth, while a reading below signals a contraction.

The data come as China`s economic growth is slowing, with the central bank this month forecasting a 7.1 percent pace next year, down from expectations for around 7.4 percent this year, reports CNBC. However, the contraction in PMI was “only marginal,” noted Hongbin Qu, chief economis for China at HSBC, said in a note. “Data suggested that the decline was largely driven by softer domestic demand, as new export work rose for the eighth month in a row and at a slightly quicker rate than in November.”

KEC International bagged orders worth Rs 1,412 crore in transmission & distribution and cables businesses. In the transmission and distribution business, the company received orders in India, Africa and America amounting to Rs 1,128 crore. It included Rs 543 crore order from Karnataka Power Transmission Corporation, Rs 112 crore order from Sterlite Power Grid Ventures in West Bengal, two orders worth Rs 106 crore from Power Grid Corporation of India and Rs 71 crore order from West Bengal State Electricity Transmission Company. In Africa, KEC secured orders worth Rs 83 crore. “SAE Towers, the wholly owned subsidiary of the company secured orders for the supply of lattice towers, monopoles, hardware and EPC works from the US, Brazil, Mexico and Chile. The total value of these orders is Rs 213 crore,” said the infrastructure EPC major in its filing to the exchange.

2015 will be a good year, but it may not give as good returns as 2014, says Dilip Bhat of Prabhudas Lilladher. But for retail investors it may be a great time to build their portfolios for the next 3-5 years, he adds. For the January series, or even the month of January there are three factors that need to be watched, according to Bhat. Over the last month, FII interest has waned off significantly, but the broad assumption is it will make a comeback, he says. There may be a pre-Budget rally and the Nifty may once again see 8500-8600 for a brief period. But the spoilsport, according to him, will be the third quarter numbers.

Equity benchmarks gained some strength after flat opening today. The Sensex rose 68.02 points to 27471.56 and the Nifty climbed 22.30 points to 8270.55. Banks, capital goods, oil & gas, metals and power stocks supported the market while auto stocks remained under pressure. The broader markets gained too with the BSE Midcap and Smallcap indices rising 0.5 percent each. Nearly two shares advanced for every share declining on the Bombay Stock Exchange.

Coustery :  http://www.moneycontrol.com/news/local-markets/sensex-nifty-firm-amid-consolidation-icici-ril-support_1264199.html