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27
January 2017
I had
mentioned in last week’s closing report that Nifty, Sensex were still in a
bullish mode. Expectations from the upcoming Union Budget, along with global
cues and domestic quarterly earnings results, lifted the Indian equity markets
last week. For the week, the major indices have closed on a positive note with
high gains. 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 Indices (The Total Investment & Insurance Solutions) |
Indian
equities markets traded on a flat-to-positive note during the mid-afternoon
trade session on Monday, as rupee appreciation, coupled with hopes of positive
incentives in the upcoming Union Budget and broadly positive Asian indices,
kept investors' sentiments buoyed. Asian markets barring Nikkei traded
flat-to-positive, but the domestic market witnessed profit booking as investors
are in a wait and watch mode for the Union Budget, according to market analysts.
The key indices traded marginally in the green, even as gains were capped by
profit booking. Buying was witnessed in metal, oil and gas, and FMCG stocks. The Total Investment & Insurance Solutions
Rupee
appreciation, coupled with positive Asian markets, lifted investors' sentiments
on Tuesday. Buying was witnessed in the automobile, capital goods and oil and
gas stocks and the trend lifted the key indices to trade with substantial
gains. The BSE market breadth was tilted in favour of the bulls -- with 1,474
advances and 1,052 declines. The CNX Nifty maintained its morning gains and
most of the sectors, barring FMCG, traded in the positive territory. The Indian
rupee continued to hold on to its gain against the US dollar, whereas the US
dollar index fell near its seven-week low as (President Donald) Trump formally
withdrew the United States from the now 11-nation Pacific Rim Trans-Pacific
Partnership (TPP), distancing America from its Asian allies. Looking at the
market volume and rollover data, it seems there might not be heavy volatility
tomorrow (on Wednesday) during F&O (futures and options) expiry, pointed
out market analysts. The major indices of the Indian stock markets rallied on
Tuesday and closed around 1% higher than Monday’s close. The Total Investment & Insurance Solutions
Indian
equities were lifted during the mid-afternoon trade session on Wednesday as
short-covering on the back of futures and options (F&O) expiry, coupled
with positive Asian markets and hopes of incentives in the upcoming Union
budget, cheered investors' sentiments. Besides, a marginally strong rupee and healthy
quarterly results in finance and bank sectors added to the upward trajectory.
Buying was witnessed in banking, capital goods and consumer durables stocks
which boosted the key indices to trade with substantial gains of more than
0.50% each. The major indices of the Indian stock markets surged on a clear
rally and closed with gains of 1.21%-1.5% over Tuesday’s close. NSE trading
volumes were also on the higher side. The Total Investment
& Insurance Solutions
The
Indian markets remained closed Thursday on the occasion of Republic Day.
On
Friday, the market sentiment was boosted by data showing that foreign
funds made substantial purchases of Indian stocks on Wednesday, 25 January
2017. Sensex closed at 27,882.46 it’s highest since 30, October 2016. The key
benchmarks extended the pre-Budget rally of the week’s three previous trading
days. As per provisional data released by the stock exchange, the trading
activity showed that the foreign portfolio investors (FPIs) bought shares worth
a net Rs1,378.81 crore on Wednesday, 25 January 2017. On BSE, there were 1390
advances, 1394 declines and 79 unchanged. On the NSE, there were 779 advances,
790 declines and 52 unchanged at Friday’s close of trading hours.
With Budget 2017 four days away, Nifty rallied 3.5% for the
week, its highest weekly gain since May 27. The index has gained 6% in the year
so far. The Total Investment & Insurance
Solutions
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