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2 December
2016
I had mentioned in last week’s
closing report that Nifty, Sensex were heading higher. The major indices of the
Indian stock markets shot up in the earlier part of the week but gave up most
of the gains and closed with small losses. With too many factors at play such
as rising oil and dollar, the impact of demonetisation and possible rate hike
in the US, the Indian indices will remain volatile. The Total Investment
& Insurance Solutions
On Monday, The key domestic indices
provisionally closed on a flat-to-positive note, with buying witnessed in oil and
gas, metal and FMCG stocks. The wider 51-scrip Nifty of the National Stock
Exchange (NSE) edged up by 12.60 points or 0.16% to 8,126.90 points. The Sensex
touched a high of 26,413.99 points and a low of 26,183.22 points during the
intra-day trade.
The Total Investment & Insurance Solutions
The trends of the major indices in
the course of the week’s trading are given in the table below:
 |
Weekly Closing
(The Total
Investment & Insurance Solutions)
Banking stocks slipped in opening
trade after RBI hiked CRR on incremental deposits. The Indian rupee opened
higher by four paise at 68.42/$ against the previous close of 68.46/$.
Depreciation of the rupee and prolonged outflow of foreign funds eroded the
risk-taking appetite of investors. The INDIA VIX was down 2.01% at 17.2575.
Indian equities markets on Tuesday
were lifted by value buying, coupled with short covering and an appreciating
rupee. However, gains were capped due to some selling pressure during the
second half of trade. The Sensex touched a high of 26,587.07 points and a low
of 26,354.66 points during the intra-day trade. The BSE market breadth was
tilted in favour of the bulls with 1,585 advances and 1,012 declines. The Total Investment
& Insurance Solutions
Most European indices opened
positive as investors awaited the outcome of the referendum over constitutional
reforms in Italy.
The Total Investment & Insurance Solutions
Indian shares climbed to a near
three-week high on Wednesday as a gauge of lenders snapped its two-day losing
streak and automakers extended their rally. The S&P BSE Sensex gained
nearly 1% to 26,652 and the NSE Nifty advanced 1% to 8,224. Both the indices
gained for a fourth straight session, with the Nifty closing above the
8,200-mark for the first time since 11 November. The Total Investment
& Insurance Solutions
The market breadth was firmly in
favour of the buyers at 1,765 advances against 827 declines and 202 stocks
remained unchanged. India's fiscal deficit for the April-October period of the
current financial year stood at Rs4.23 lakh crore, or 79.3% of the budget
estimate, data released by the Controller General of Accounts showed on
Wednesday.
The Indian economy grew at 7.3% in
the second quarter of the current fiscal year, lower than the 7.5% forecast by
economists. While slightly weaker than expected, the growth trend has so far
has been in line with the forecast of achieving 7.6% growth this fiscal.
Profit booking, along with a
political logjam in Parliament over the demonetisation drive and lower European
markets, subdued the Indian equities markets on Thursday. Weak European cues
and domestic liquidity concerns also caused selling pressure. Higher global
crude oil prices, buoyant Asian markets, appreciation in rupee and largely
positive macro-economic data arrested any major fall. The Total Investment
& Insurance Solutions
Pharmaceutical stocks rallied after
the Delhi High Court quashed the government's notification in March, which had
banned 344 fixed-dose drugs. Telecom stocks like Bharti Airtel, Idea Cellular
and Reliance Communications lost ground after Reliance Jio Chairman Mukesh
Ambani said starting December 4, all subscribers will get voice, data, video
and full bouquet of other Jio applications free till March 31, 2017. The scheme
is called "Jio Happy New Year offer".
Asia closed higher with the Japan's
Nikkei rising 1% as regional manufacturing surveys led by China beat expectations.
Brent crude oil futures gained 1% on top of the 8.8% rally in the previous
session after OPEC and Russia agreed to restrict production.
On, Friday the Sensex closed down
329.26 points or 1.2% at 26,230.66, and the Nifty slipped down 106.10 points or
1.3% at 8,086.80. About 878 shares advanced, 1,785 shares declined, and 129
shares were unchanged. The Total Investment & Insurance Solutions
European bourses were lower as
political uncertainty in Italy and France intensified. France's CAC, Germany's
DAX and Britain's FTSE were down 0.8%-1.4%. Bajaj Auto, Hero MotoCorp, Cipla
and Bharti Airtel were top gainers while Adani Ports, Maruti, Tata Motors,
Asian Paints and HDFC were losers in the Sensex.The Total Investment
& Insurance Solutions
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