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8 December
2016
Indian
equity markets surged on Thursday as positive global cues, rupee appreciation
and value buying buoyed investors' sentiments. Besides, positive global
indices, stimulus hopes from the European Central Bank (ECB) in its upcoming
monetary policy review, and commercial banks reducing lending rates enhanced
the risk-taking appetite. The BSE market breadth was skewed in favour of the
bulls - with 1,820 advances and 823 declines. On Wednesday, the equity markets
slipped after the Reserve Bank of India (RBI) decided to keep its key lending
rates unchanged in its fifth bi-monthly monetary policy of 2016-17. Clearly,
the market has shaken off that disappointment. The Total Investment & Insurance Solutions
The trends of the major indices in the course of
Wednesday’s trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
The key Indian indices closed with substantial gains --
more than 1.5% each -- as healthy buying was witnessed in all the 19
sub-indices of the BSE, led by automobile, banking and metal stocks. The wider
51-scrip Nifty of the National Stock Exchange (NSE) gained by 144.80 points or
1.79% to 8,246.85 points. The Sensex touched a high of 26,733.87 points and a
low of 26,357.35 points during the intra-day trade.
In the
sectoral landscape, metal stocks rallied the most, pushing S&P BSE Metal
index to 10,937, up 2.93%, thanks to a rise in shares of Vedanta, Tata Steel
and NMDC. Auto stocks were the second best performers. The S&P BSE Auto
index rose 2.63% to 20,558. The
Total Investment & Insurance Solutions
The BSE
Midcap and Smallcap indices gained 1.5% and 1.3%, respectively. However, the
gap between advances and declines narrowed as the day progressed. More than 2
shares gained for every share falling against the ratio of 5:1 in early trade
on the BSE. The Total Investment &
Insurance Solutions
Lenders
also gained after the RBI reversed an order that forced banks to deposit all
their extra cash with it in a bid to absorb excess liquidity. The Total Investment & Insurance
Solutions
The top gainers and top losers of the major indices are
given below:
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Top Gainer (The Total
Investment & Insurance Solutions)
Elsewhere, stocks slipped in China, as investors grappled
with a mixed set of data showing better-than-expected trade activity in
November but a sharp fall in foreign exchange reserves, Reuters reported. The
blue-chip CSI300 index fell 0.2% to 3,470 whole the Shanghai Composite Index
lost 0.2% to close at 3,215.
Hong Kong stocks rose for the third straight session on
Thursday, drawing some support from Wall Street although demand was tempered by
weakness in mainland shares after China's falling foreign exchange reserves deepened
concerns over capital outflow. European shares opened to a three-month
high.
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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