Contact Your Financial Adviser Money Making MC
28
November 2016
I had
mentioned in Friday’s closing report that Nifty and Sensex, which ended on a
positive weekly note were headed upwards. The key domestic indices
provisionally closed on a flat-to-positive note, with buying witnessed in oil
and gas, metal and FMCG stocks. The wider 51-scrip Nifty of the National Stock
Exchange (NSE) edged up by 12.60 points or 0.16% to 8,126.90 points. The Sensex
touched a high of 26,413.99 points and a low of 26,183.22 points during the
intra-day trade. The Total Investment & Insurance
Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
Banking stocks slipped in opening
trade after RBI hikes CRR on incremental deposits. The central bank hopes to
curtail surging banking system liquidity that risks stocking inflation. The BSE
Oil and Gas index traded up 1.06% at 11,877 as against the previous close of
11,753. The oil stocks are trading higher as international oil prices declined
after a planned meeting today between OPEC and non-OPEC producers was cancelled.
The Indian rupee opened higher by
four paise at 68.42/$ against the previous close of 68.46/$. Depreciation of
the rupee and prolonged outflow of foreign funds continued to erode the
risk-taking appetite of investors. The INDIA VIX is down 2.01% at 17.2575.
Shares of airline stocks rose on
Monday as uncertainty over the deal to cut output by the Organization of the
Petroleum Exporting Countries at a meeting on Wednesday pushed oil prices down.
SpiceJet reported a rise of 103% in its net profit for the second quarter of
2016-17. The company's Q2 net profit stood at Rs58.9 crore from Rs29 crore
reported in the corresponding quarter of 2015-16. The Total Investment
& Insurance Solutions
In terms of investments, provisional
data with exchanges showed that the foreign institutional investors (FIIs) sold
stocks worth Rs1,436.40 crore, whereas the domestic institutional investors
(DIIs) purchased scrips worth Rs1,233.79 crore. The Total Investment
& Insurance Solutions
Meanwhile, the government today
offered a new window for tax evaders to come clean, allowing them to declare
hidden wealth by paying a 30% tax, a 10% penalty and a 33% surcharge under a
proposed new law.
The Total Investment & Insurance Solutions
The top gainers and top losers of
the major indices are given below:
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Top Gainer (The Total
Investment & Insurance Solutions)
Oil rebounds from 2% losses as OPEC
embarks on a last-ditch diplomatic push to reach a production cut and will meet
in Vienna on Wednesday; a meeting with non-OPEC producers today was cancelled
after Saudi Arabia decided not to attend and suggested the oil-club doesn’t
necessarily need to curb output. The Total Investment & Insurance
Solutions
On the global front, European stocks
were lower amid continued political uncertainty in Italy and fading hopes of an
OPEC production cut which pushed oil prices lower. Asia ended mixed as dollar
strength weighed.
The Total Investment & Insurance Solutions
The closing values of the major Asian
indices are given in the table below: The
Total Investment & Insurance Solutions
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Asian Indices (The Total
Investment & Insurance Solutions)
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