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16 December
2016
I
had mentioned in last week’s closing report that the Nifty, Sensex rally was
likely to stall soon. The major indices of the Indian stock markets were
trading listlessly through the week and closed with weekly losses. The trends
of the major indices in the course of the week’s trading are given in the table
below: The Total Investment &
Insurance Solutions
 |
| Weekly Closing Repot (The
Total Investment & Insurance Solutions) |
Profit booking, risks of upcoming global
economic events and negative domestic cues pulled the Indian equities markets
lower on Monday. The key indices 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 slipped by 90.95 points or 1.10% 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
On Monday, 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% but
oil marketing companies - HPCL, BPCL and IOC lost 2%-4%. Even aviation stocks
like Jet Airways, SpiceJet & InterGlobe Aviation and paint companies like
Asian Paints, Berger Paints & Kansai Nerolac were down 2-5%.
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 Total Investment & Insurance Solutions
On Tuesday, 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. The Total Investment & Insurance Solutions
Energy stocks rose with oil retailer
Bharat Petroleum Corp leading the gains, on Tuesday. Bharat Petroleum 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 Total Investment &
Insurance Solutions
The domestic equity market slipped into the red on Wednesday as investors
remained cautious ahead of the outcome of the FOMC meeting. The 30-share BSE
Sensex was down 94.98 points at 26602.84 and the 50-share NSE Nifty fell 39.35
points to 8182.45. The broader markets also lost shine in last couple hours of
trade, with the BSE Midcap and Smallcap indices falling 0.8% each on weak
breadth. About two shares declined for every share rising on the exchange.
Wholesale inflation rate in November
moderated to 3.15% from 3.39% in October as cash crunch has depressed the
consumer demand. Even retail inflation slowed sharply to 3.63% from 4.2%, which
may pave the way for rate cuts in the upcoming RBI policy meeting.
On Thursday, Asian stocks declined as a
result of US Federal Reserve raising interest rates in the US on 14 December
2016. European indices were trading higher. Investors eyed the Bank of
England's monetary policy decision due later in the trading session. The
Federal Reserve raised its key short-term rate yesterday, 14 December 2016, on
the expected lines, but it also forecast three rate increases in 2017, compared
with the two that had been anticipated at its previous meeting in September.
IT (information technology) stocks were
the biggest gainers of the day on Thursday, pushing S&P BSE Information
Technology index to 9,977. In the midcap and smallcap segments, the S&P BSE
Midcap index closed at 12,240 with JSW Energy being the top gainer and Nalco the
worst laggard. The S&P BSE Smallcap index closed 0.21% higher at 12,143.
The India VIX (Volatility) index was down 5.65% at 15.6. Out of 1470 stocks
traded on the NSE, 701 declined and 697 advanced today. A total of 21 stocks
registered a fresh 52-week high in trade today, whereas 15 stocks touched a new
52-week low on the NSE. The Total
Investment & Insurance Solutions
Broadly negative global markets, coupled
with lower crude oil prices, pulled the Indian equities markets lower on
Friday. The key indices closed the day's trade on a flat-to-negative note, as
selling pressure was witnessed in metal, banking and oil and gas stocks. At
Friday’s close of trade, the losses in the major indices over Thursday’s close
were small and less than 0.5%.The Total
Investment & Insurance Solutions
