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12 December
2016
I had
mentioned in the Friday’s weekly closing report that Sensex and Nifty rally may
stall soon. Profit booking, risks of upcoming global economic events and
negative domestic cues pulled the Indian equities markets lower on Monday. The
key indices provisionally closed the day's trade with losses of around a per
cent each, as selling pressure was witnessed in automobile, banking and oil and
gas stocks. The wider Nifty of the National Stock Exchange (NSE) slipped by
90.95 points or 1.10 per cent to 8,170.80 points. The Sensex touched a high of
26,725.31 points and a low of 26,468.59 points during the intra-day trade. The
Total Investment & Insurance Solutions
The trends of the major indices in
the course of Wednesday’s trading are given in the table below: The Total Investment
& Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
The BSE market breadth was tilted in
favour of the bears - with 1,529 declines and 1,103 advances. On Friday, the
equity markets were marginally lifted by firm global cues, coupled with short
covering and higher crude oil prices. The Total Investment & Insurance
Solutions
Crude oil prices jumped over 4% to
their highest level since 2015 after OPEC and other producers over the weekend
agreed to jointly reduce output in order to rein in oversupply. After sharp
spike in crude oil prices, upstream companies like ONGC gained 1.4 percent but
oil marketing companies - HPCL, BPCL and IOC lost 2-4 percent. Even aviation
stocks like Jet Airways, SpiceJet & InterGlobe Aviation and paint companies
like Asian Paints, Berger Paints & Kansai Nerolac were down 2-5 percent. The Total Investment
& Insurance Solutions
Technology stocks were under
pressure on fears of stricter norms for H1B visa after US President-elect
Donald Trump statement. Infosys, Wipro, HCL Technologies and Tech Mahindra
declined 0.4-1 percent while TCS rebounded 0.6 percent after early fall.
Banks, FMCG, auto, metals, and
select healthcare and technology stocks were under pressure whereas oil
exploration companies gained. Nifty Bank fell 1.6 percent as PNB, Axis Bank,
Bank of Baroda, ICICI Bank, HDFC Bank and SBI were down 1-3 percent. State Bank
of India started off day on a positive note after the bank sold stake 3.9
percent stake in its insurance subsidiary SBI Life for Rs1,794 crore, but
failed to sustain those gains.
The top gainers and top losers of
the major indices are given below:
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| Top Gainer (The Total Investment & Insurance Solutions) |
Global markets were cautious ahead
of the FOMC meet, which kicks off on Tuesday. The Federal Reserve is widely
expected to hike the policy rates by 25 basis points this time. Elsewhere in
Asia, China stocks tumbled the most in six months after the country's insurance
regulator suspended Evergrande Life, the insurance arm of China Evergrande
Group, from conducting stock market investment. Hong Kong stocks fell the most
in a month, hurt by a tumble in mainland shares, after Trump's comments on the
'one China' policy raised risk of flaring tension between Beijing and
Washington.
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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