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6
October 2016
I had mentioned in Wednesday’s closing
report that Nifty, Sensex were still on a short-term uptrend. The major indices
of the Indian stock markets were range-bound on Thursday and closed with small
losses over Wednesday’s close. NSE trading volumes were however high. The
trends of the major indices in the course of Thursday’s trading are given in
the table below: The Total Investment
& Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Negative global markets, coupled with
lower crude oil prices and a weak rupee, dented the equity markets during the
mid-afternoon trade session on Thursday. Selling pressure was witnessed in
automobile, banking and IT (information technology) stocks. The BSE market breadth
was tilted in favour of the bulls -- with 1,366 advances and 1,506 declines. On
the NSE, there were 658 advances, 960 declines and 255 unchanged. The Total Investment & Insurance
Solutions
Initially on Thursday, the benchmark
indices opened on a higher note in sync with their Asian peers. However, the
global markets, especially the European markets, remained subdued over
speculation on curtailment of stimulus measures by the European Central Bank
(ECB). Besides, caution prevailed ahead of key US macro-data on jobs to be
released on Friday. In addition, lower crude oil prices, profit booking and
consolidation added to the downward trajectory. The short-covering rallies
earlier in the week have been halted by consolidation and caution ahead of key
global event risks, pointed out market analysts.
Three public sector banks -- Indian
Overseas Bank (IOB), Bank of India and Syndicate Bank -- on Wednesday announced
reduction in their marginal cost of funds-based lending rate (MCLR) for various
tenors. City-based IOB, in a statement issued here, said its MCLR for one year
is reduced to 9.50% from 9.55% with effect from October 1. Similarly, Syndicate
Bank said it has cut its MCLR for one year to 9.45% from 9.55% effective from
October 7. On its part, Bank of India said its one year MCLR will be 9.35%
effective from October 7. In this context, the bond market is not likely to be
more attractive for stock market investors in the immediate context. The Total Investment & Insurance
Solutions
The top gainers and top losers of the
major indices are given in the table below:
 |
| Top Gainer (The Total Investment & Insurance Solutions) |
The closing values of the major Asian
indices are given in the table below: The
Total Investment & Insurance Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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