Contact Your Financial Adviser Money Making MC
26Th Aug 2016
I had
mentioned in last week’s closing report that Nifty, Sensex were stalling on
lower volumes. The major indices of the Indian stock markets were trading
through the week on a flat-to-bearish note and closed the week with losses of
around 1% over last Friday’s close. The trends of the major indices in the
course of the week’s trading are given in the table below:
 |
| Major Indices (The Total
Investment & Insurance Solutions) |
On Monday, key equity indices traded in the
red, as selling pressure was witnessed in automobile, information technology
(IT) and healthcare stocks. The BSE market breadth was slightly tilted in
favour of the bears -- with 1,463 declines and 1,254 advances and 202
unchanged. On the NSE, on Monday, there were 702 advances, 889 declines and 264
unchanged. The indices opened on a flat note with a slightly negative bias
following cues from negative Asian markets. The markets also traded with
apprehension as caution prevailed ahead of a speech by Federal Reserve Chair
Janet Yellen later in the week. Further, investors were seen cautious after
government's decision on Saturday to appoint economist and banker Urjit R Patel
as the next Governor of the Reserve Bank of India (RBI). Moreover, a weak rupee
and lower crude oil prices also dented investors' sentiments.
The benchmarks traded lower during the
mid-afternoon session on Tuesday as mixed global cues and lower crude oil prices
subdued investors' sentiments. Selling pressure was witnessed in capital goods
and oil and gas stocks. The BSE market breadth was minimally tilted in favour
of the bears -- with 1,358 declines and 1,313 advances. On the NSE, on Tuesday,
there were 678 advances, 785 declines and 77 unchanged. The Total Investment & Insurance Solutions
On Tuesday, the benchmark the indices opened
on a flat-to-negative note on the back of lower Asian and US markets, although
the European markets closed higher. The markets also traded with apprehension
as caution prevailed ahead of a speech by Federal Reserve Chair Janet Yellen
later in the week. Investors were vigilant of a possible interest rate hike in
the US as this can potentially lead FPIs (Foreign Portfolio Investors) away
from emerging markets such as India. In addition, lower crude oil prices led
the key indices to cap gains. Also, the foreign institutional investors were
net sellers for the first time in August.
Mixed global cues and lower crude oil prices
led the key Indian indices to trade on a flat note during the mid-afternoon
session on Wednesday. Selling pressure was seen in capital goods, banking and
metal stocks. The BSE market breadth was marginally tilted in favour of the
bulls -- with 1,540 advances and 1,171 declines and 202 unchanged. On the NSE,
on Wednesday, there were 929 advances, 648 declines and 276 unchanged. The Total Investment & Insurance
Solutions
On Wednesday, the benchmark indices opened on
a flat note on the back of negative Asian and European markets, and slightly
positive US markets. Investors were also watchful of the negotiations for
amendments in a tax treaty between India and Singapore. In addition, caution
prevailed in the markets ahead of futures and options (F&O) expiry on
Thursday and hampered the upward trajectory. Moreover, apprehension of a
possible interest rate hike in the US following Fed Reserve Chair Janet
Yellen's speech later during the week, and lower crude oil prices led the key
indices to cap gains. The foreign institutional investors (FII) continue to be
net sellers during the week. The Total
Investment & Insurance Solutions
The markets were subdued during the
mid-afternoon session on Thursday as volatility was induced by futures and
options (F&O) expiry, coupled with negative global cues and the Jackson
Hole Summit, where US Fed Chairman Janet Yellen was due to speak. Consequently,
the key indices traded in the red, as selling pressure was seen in information
technology (IT), automobile and metal stocks. The BSE market breadth was tilted
in favour of the bears -- with 1,467 declines and 1,233 advances. On the NSE,
on Thursday, there were 543 advances, 835 declines and 57 unchanged.
On Friday, the indices were range-bound and
closed with small losses over Thursday’s close, ahead of US Fed Reserve Chair's
speech, coupled with lower crude oil prices. Selling pressure was seen in
capital goods, banking and information technology (IT) stocks.The Total Investment & Insurance
Solutions
