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13 December
2016
Amidst high volatility, benchmark
indices gained strength in late trade on Tuesday, with the Nifty ending above
8,200 level ahead of the upcoming policy meeting of US Federal Reserve that
will begin tonight. The 30-share BSE Sensex jumped 182 points to 26,697 and the
50-share NSE Nifty rose 51 points to 8,221. The US Federal Reserve is widely
expected to hike interest rates, which, if happens, will lead to outflow of
foreign funds from emerging markets, including India. 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)
Earlier in the day, the Asian
Development Bank (ADB) slightly lowered its 2016 growth forecast for developing
Asia, reflecting slower-than-expected expansion in India. The new estimate for
India has been adjusted to 7.0% from 7.4% due to weak investment, agricultural
slowdown and the government's recent demonetisation. The Total Investment
& Insurance Solutions
Coming back to Indian markets, in
the midcap and smallcap segments, the S&P BSE Miscalculation index closed
0.43% down at 12,341 while the S&P BSE smallcap index closed at 12,222,
marginally down. The India VIX (Volatility) index was down 1.66% at 15.9225.
The Indian Rupee was trading at
67.49 per US dollar. Gold was trading at Rs27,532 per 10 grams and silver was
trading at Rs41,491 per kg. Gold downfall continues and it closes at par with
Monday's closing, the primary reason for the downfall being the nearing US
Federal Reserve Monetary Policy announcement. The Total Investment
& Insurance Solutions
In the sectoral landscape, auto
stocks gained the most pushing S&P BSE Auto index to 20,306.41, up 0.98%,
with Tata Motors, Bharat Forge and Mahindra & Mahindra contributing the
most to the rally. Tata Motors rose as much as 5% intraday after unnamed entity
bought about five crore shares of the company in a block deal.
Energy stocks rose with oil retailer
Bharat Petroleum Corp leading the gains. Bharat Petroleum gained as much as
2.30%, after Monday's 3.6% fall due to a jump in crude prices. Natco Pharma has
launched generic Tamiflu capsules, used for the treatment of influenza, in the
American market after the final nod from the US health regulator in August
2016.
The top gainers and top losers of
the major indices are given below:
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Top Gainer (The Total
Investment & Insurance Solutions)
China stock market rebounded on
solid retail sales and factory output data, a day after it dropped to one-month
low. The blue-chip CSI300 index fell 0.1% to 3,405, while the Shanghai
Composite Index rose 0.1% to 3,155 points. Hong Kong shares ended slightly
higher but the gains were limited as investors were cautious ahead of a Federal
Open Market Committee (FOMC) meeting. European stocks opened flat.
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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