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9
November 2016
I had
mentioned in Tuesday’s closing report that Nifty, Sensex might head higher. The
demonetisation of the Rs500 and Rs1,000 currency notes by the government in
India and the political triumph of Donald Trump in the US Presidential
elections were bad news for the investors in the Indian stock markets on
Wednesday. The major indices of the Indian stock markets tumbled initially by
more than 6% over Tuesday’s close but recovered sharply to close 1.23%-1.31%
lower than Tuesday’s close. The trends of the major indices in the course
of Wednesday’s trading are given in the table below: The Total Investment & Insurance Solutions
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| Major Indices (The Total Investment & Insurance Solutions |
After crashing 1,688 points, or 6.12%,
in early trade on Wednesday, the 30-share Sensex of the BSE, regained a large
part of the losses. Key Indian indices had reacted adversely to the
government's decision the previous evening to demonetise Rs500 and Rs1,000
currency notes, as also on clear lead Republican candidate Donald Trump
established in the US presidential election. By the time Democratic Party’s
Hillary Clinton conceded defeat and Republican Party’s Trump gave his victory
speech, the index had significantly risen from the lows, and was quoting at
27,207.92 points, down 383.22 points, or 1.39%. The Total Investment & Insurance Solutions
Initially, all the 30 shares that go
into the Sensex basket were quoting in the red. But upon the recovery, four
stocks were in the green, three of them from the pharma space -- Dr. Reddy's,
Sun Pharma (closed at Rs661.10, up 4.07%, on the BSE on Wednesday) and Lupin
(closed at Rs1,529.05, up 1.31% on the BSE on Wednesday). The State Bank of
India was also in the positive territory (closed at Rs259.75, up 2.83%, on the
BSE on Wednesday).
The sharp fall in the Indian stock
markets appeared to be justified by the negative global cues from the Asian
markets, where the Nikkei closed down 5.36% and the Straits Times closed down
1.08%. The Total Investment &
Insurance Solutions
On the NSE there were 1,354
declines, 279 advances and 245 unchanged on Wednesday. On the BSE there were
2,157 declines, 610 advances and 97 unchanged. NSE trading volumes were higher,
reflecting the volatility in the stock markets on Wednesday.
The sectors which involve cash
transactions were the worst affected, mainly the real estate and related
sectors, according to market analysts.
Power equipment major Bharat Heavy
Electricals Ltd (BHEL) on Tuesday said it closed the second quarter of the
current fiscal with a net profit of Rs109 crore as compared to net loss of
Rs180.78 crore in the same quarter last year. In a regulatory filing in BSE,
the company said its total income has increased from Rs6,314.56 crore for the
quarter ended September 30, 2015 to Rs6,860.53 crore for the quarter ended
September 30, 2016. On Wednesday, BHEL shares closed at Rs138.45, down 3.28% on
the BSE.
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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