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22
November 2016
I had
mentioned in Monday’s closing report that Nifty, Sensex were trending lower and
market would witness increased volatility. Indian shares on Tuesday bounced
back from six-month lows hit in the previous session, led by IT (information
technology) and auto stocks, with sentiment turning positive as Asian shares
rallied after all three major U.S. stock indexes hit record highs. Equity
benchmarks consolidated in afternoon trade with the Nifty hovering around 7,950
level after reclaiming 8,000 level in early trade. Markets made an attempt to
regain the crucial psychological level of 8,000 today and closed just 2 points
above at 8,002.30. The major indices of the Indian stock markets ended positive
on Tuesday. The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Opposition ranks in the Lok Sabha
were boosted today with AIADMK members joining them in their noisy protest
against demonetisation, as the government vehemently resisted their demands,
including a debate under a rule which entails voting, forcing the House to
adjourn for the day.
On the NSE, 991 stocks advanced, 621
stocks declined and 79 stocks remained unchanged. On the BSE 1457 stocks
advanced, 1099 stocks declined and 190 stocks remained unchanged. Overall
market sentiments remained cautious after rating agency ICRA forecast a 40 bps
dip in growth rate to 7.2% in the second quarter of this financial year, citing
debilitating impact of the demonetisation drive on the economy. The top gainers
and top losers of the major indices are given below: The Total Investment
& Insurance Solutions
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| Top Gainer (The Total Investment & Insurance Solutions) |
Investors betting that Donald Trump
will roll back regulations and taxes while pumping money into infrastructure
projects drove the Russell 2000 index of small-capitalization stocks to a
record with its 12th straight session of gains, its longest winning streak
since June 2003. The index has risen 11% since Election Day, outpacing the
S&P 500’s 2.7% climb.
The S&P 500, Dow Jones
Industrial Average and Nasdaq Composite climbed to a trifecta of records Monday
as stocks extended their postelection rally. Investors have piled into banks,
health-care stocks and industrials on bets that President-elect Donald Trump
would loosen regulation and boost infrastructure spending. At the same time,
they have pulled back from Treasury’s and their stock-market proxies, which are
less attractive to investors when interest rates rise. The Total Investment
& Insurance Solutions
Asian shares were lifted as crude
prices touched their highest for the month after comments from Russian
President Vladimir Putin raised the odds of a freeze in oil production. Brent
futures are now trading at their highest level since October at $49.34 a barrel
as the market priced in a potential output cut led by producer cartel
Organization of the Petroleum Exporting Countries (OPEC), which is set to meet
on Nov. 30.
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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