Contact Your Financial Adviser Money Making MC
17
November 2016
I had mentioned in Wednesday’s closing report that Nifty,
Sensex were to remain under pressure. The major indices of the Indian stock
markets were range-bound on Thursday and closed with small losses over
Wednesday’s close. The caution among investors was clear from the lower than
normal NSE trading volumes. Nifty closed down 31.65 points or 0.39% to close at
8,079.95.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) |
The
primary reason indices opened on a flat note was that investors were cautious
over possible rate hike by US Federal Reserve's Chairman Janet Yellen. A
hike can potentially lead foreign portfolio investors (FPI) and funds away from
emerging markets such as India, and dent the business margins of corporate
sector, as access to capital from the US will become more expensive. The Total Investment & Insurance Solutions
Besides,
global sentiments continued to remain subdued on worries over trade
restrictions with the US as a result of the surprise victory of Republican
Donald Trump in the November 8 US Presidential election prevailed in the global
markets. On the domestic front, the political bickering over the government's demonetisation
move and its impact on the winter session of Parliament, too, eroded investors'
confidence with it being adjourned.
USD/INR
showed some relief with the Indian rupee appreciating The Indian rupee
strengthened by 13 paise to 67.82 against a US dollar from its previous close
of 67.95. Astha Jain, Senior Research Analyst at Hem Securities said
"Investors were jittery ahead of the US Fed's Janet Yellen's speech later
in the evening,” The Total Investment & Insurance
Solutions
IT
and banking stocks failed to sustain at higher levels, while pharma, auto and
cement stocks traded down on selling pressure. However, oil-gas and textile
stocks traded with firm sentiments on buying support at lower levels, while
FMCG, power and media-entertainment stocks traded lower on continuous selling
pressure from traders. The S&P BSE IT index plunged by 130.19 points, the
Teck (technology, media and entertainment) index declined by 86.63 points, and
the telecom index fell by 27.78 points. In contrast, the S&P BSE healthcare
index surged by 53.76 points, the metal index rose by 50.89 points, and the oil
and gas index edged up by 41.08 points.
Data
with exchanges showed that the foreign institutional investors (FIIs) sold
stocks worth Rs 988.93 crore, and the domestic institutional investors (DIIs)
purchased scrip worth Rs 1,144.15 crore. The
Total Investment & Insurance Solutions
On
the NSE, there were 491 advances, 1,019 declines and 43 unchanged. On the BSE,
there were 943 advances, 1,671 declines and 158 unchanged
The
top gainers and top losers of the major indices are given 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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