Tuesday, 10 January 2017

Nifty has to close above 8,300 to head higher - Tuesday closing report -The Total Investment & Insurance Solutions

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10 January 2017

Hopes of positive third- quarter results, along with expectations on more spending support from the upcoming Union Budget and a strengthened rupee lifted the Indian equity markets on Tuesday. Healthy buying was witnessed in the automobile, capital goods and metal stocks. The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 52.55 points or 0.64% to 8,288.60 points. The Sensex touched a high of 26,914.95 points and a low of 26,804.17 points during the intra-day trade. The Total Investment & Insurance Solutions

The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
Major Indices (The Total Investment & Insurance Solutions)
The BSE market breadth was tilted in favour of the bulls - with 1,668 advances and 1,146 declines. In the Nifty500 index, 313 stocks closed in the green, while 180 settled below the neutral line. On Monday, profit-booking, coupled with rupee depreciation subdued the Indian equities markets.

In the broader market, the BSE Midcap and BSE Smallcap outperformed the headline indices and added 0.8%, and 0.7%, respectively. Meanwhile, eight sugar stocks hit their respective 52-week highs on the BSE with heavy volumes. BSE Metal and BSE Industrials were the top performers with the indices gaining by 1.42% and 1.57%. The Total Investment & Insurance Solutions

Engineers India (EIL) added 2.8% to Rs157 after the company said it has received a project worth Rs2,500 crore from the state-owned oil marketing company Hindustan Petroleum Corporation (HPCL) for execution of Vizag Refinery Modernization Project (VRMP).

IndusInd bank declared results today beating street estimates. The stock closed at Rs1160.70 with marginal gain of 0.13%. The Total Investment & Insurance Solutions

The top gainers and top losers of the major indices are given in the table below:
 
Top Gainer (The Total Investment & Insurance Solutions)
Britain's FTSE 100 continued its climb to record highs on Tuesday while Europe's top benchmark failed to hold early gains with financials the biggest drag. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5%, but Japan's Nikkei resumed its declines, closing down 0.8% as the yen strengthened. China's CSI 300 was little changed, largely shrugging off further signs of improvement in the industrial sector. The Total Investment & Insurance Solutions


The closing values of the major Asian indices are given in the table below:The Total Investment & Insurance Solutions
Asian Indices (The Total Investment & Insurance Solutions)

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