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30 June 2016
I had mentioned in Wednesday’s closing report that Nifty,
Sensex were likely to head higher. The major indices of the Indian stock
markets rallied on Thursday and closed around 1% higher than Wednesday’s close.
The trends of the major indices in the course of Thursday’s trading are given
in the table below:
Key Indian equity market indices opened higher on
Thursday in line with global peers and taking positive cues from implementation
of the Seventh Pay Commission. Asian markets on Thursday were trading in the
green. Chinese stocks opened mixed on Thursday, with the benchmark Shanghai
Composite Index opening flat at 2,931.48 points Shanghai Composite closed at
2,929.61, down 0.07%. Tokyo shares opened higher after anxiety over Japanese
economy on account of Brexit and the weakening yen started declining. The Nikkei
however, ended flat. Other international markets were also in the green. US
stocks closed higher, buoyed by gains in oil prices, as global markets
continued to rebound from previous sharp losses after Britain's vote to leave
the European Union (EU).
By the end of trading on Thursday, market analysts
pointed out that short covering on the back of latest key economic decisions,
combined with positive global cues and a firm rupee, propelled the Indian
equity markets into making healthy gains. Sector-wise, all the sub-indices
witnessed healthy buying which was led by banking, automobile and capital goods
stocks. The BSE market breadth was tilted in favour of the bulls -- with 1,598
advances and 1,011 declines. The equity markets gained on the back of reduced
uncertainty over the modalities of Britain's exit from the European Union
(Brexit). Investors were also hopeful that international central banks might go
in for major stimulus measures to protect growth as a result of Brexit.
Further, higher global crude oil prices and a firm rupee enhanced investors'
risk-taking appetite.
The hardcopy peripherals market in India dropped 2.2 per
cent sequentially in the first quarter of this year and reached 795,451 units
in terms of shipments, says market research firm International Data Corporation
(IDC). Hardcopy peripherals (HCP) includes printers, multifunction peripheral
(MFP), and digital copiers. However, the market for laser printers witnessed a
remarkable sequential growth of 15.9% in the same quarter, the report said.
"In the absence of substantial demand from government and consumers in Q1
2016, the overall HCP market witnessed weak buying as the sentiments were not
positive. However, the enterprise segment witnessed some growth and is expected
to pick up pace in the coming quarters,” Maninder Singh, Market Analyst at IDC
India, said in a statement. Among major vendors, HP managed to achieve 44.7%
shipment share and remained as the market leader in India. HP was
followed by Epson and Canon with 19.1% and 16.6% share respectively, the report
said. The IT market which is dependent on exports (and imports for domestic
sales) is likely to face uncertainty with currency markets swinging in the wake
of the Brexit. Attractive pricing and maintaining real operating margins are
likely to be challenging issues for IT vendors in India.
The top gainers and top losers of the major indices are
given in the table below:
The closing values of the major Asian indices are given
in the table below:
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