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20
January 2017
I had
mentioned in last week’s closing report that Nifty, Sensex were still in a
bullish mode. Over the last week, trading has been cautious in the Indian stock
exchanges and the major indices failed to make headway with the bulls. For the
week, the major indices have closed on a negative note. 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
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Weekly Indices (The Total
Investment & Insurance Solutions)
Hopes
of better third-quarter (Q3) results, coupled with positive macro-economic
data, lifted the Indian equity markets on Monday. However, investors remained
cautious ahead of the GST Council meet slated to be held later during the day.
Nevertheless, buying was witnessed in banking, metal and auto stocks. Among the
sector-related stocks, metals, gems and jewellery as well as fertilisers stood
among the top gainers, while glass, rubber, petroleum and engineering
sector-related stocks remained among top losers. Nifty Pharma closed losing
0.26%. Pharma giants remained under pressure of scrutiny of their business by
US government. Sunpharma was the top loser which pulled down the Pharma index
in Monday’s trading session. BSE Realty gained over 1.5% in an otherwise
range-bound market on back of heavy volumes. The Total Investment & Insurance Solutions
Profit
booking, coupled with broadly negative global indices, subdued the Indian
equities markets on Tuesday. The key indices closed the day's trade in the red,
as selling pressure was witnessed in oil and gas, metal, and energy stocks. The
pound sterling fell to its lowest level since last October against the United
States dollar on the possibility that British Prime Minister Theresa May might
announce the eventual exit of the United Kingdom from the European Union's
common market in a speech, according to analysts. The Total Investment & Insurance Solutions
India's
annual rate of inflation based on wholesale prices rose marginally to 3.39% in
December 2016 from 3.15% in November 2016 due to hardening of manufactured
products and fuel prices, official data showed. The Wholesale Price Index (WPI)
data released by the Commerce and Industry Ministry, the annual inflation rate
was (-)1.06% in December 2016. The Total Investment
& Insurance Solutions
The
Indian equities markets closed on a flat-to-positive note on Wednesday as
broadly positive Asian indices and healthy third-quarter (Q3) results buoyed
investors' sentiments. However, profit booking, a weakened rupee and caution
ahead of US Federal Reserve Chairman Janet Yellen's speech on monetary policy
capped gains. Among the sector-related stocks, metals, cement, electric
equipment, cables stood among top gainers, while aquaculture, iron and steel,
glass, petroleum, rubber related stocks remained among top losers. The Total Investment & Insurance Solutions
Indian
equities markets closed on a flat-to-positive note on Thursday as profit
booking, coupled with a weakened rupee and caution ahead of the European
Central Bank's policy meet capped gains. However, hopes of healthy
third-quarter (Q3) results kept investors' sentiments buoyed. Auto and FMCG
(fast moving consumer goods) posted 0.7% and 0.45% gains driven by Tata Motors
DVR, Eicher Motors which gained more than 2% in the Auto space while ITC closed
up by more than 1% in the FMCG space. On the contrary, Pharma tumbled the most
with Auro Pharma and Lupin tumbling nearly 1.5%. GAIL surged 5.3% as a meeting
of the board of directors is scheduled on January 25 to consider issuance of
bonus shares and fund raising by issuance of bonds on private placement basis.
Orient Green Power gained 11.5% as a media report indicated that Infrastructure
Leasing and Financial Services (IL&FS) is in advanced talks to merge its
wind energy assets with a Chennai-based company.
Globally,
investors also awaited Friday's inauguration of Donald Trump as US President.
Trump spoke at a pre-inauguration event on Thursday. European indices erased
early gains, as investors were cautious ahead of the interest rate announcement
by the European Central Bank. Profit booking, coupled with negative global cues
and a weak rupee, dragged the Indian equities markets lower during the
mid-afternoon trade session on Friday. Besides, investors remained cautious
ahead of US President-elect Donald Trump's inauguration. The key indices traded
in the red, as stocks of banking, metal and consumer durables witnessed heavy
selling pressure. The BSE market breadth was tilted in favour of the bears --
with 1,629 declines and 866 advances. On the NSE, there were 379 advances,
1,238 declines and 290 unchanged at Friday’s close of trading hours. The major
indices lost around 1% at close of trading over Thursday’s close.The Total Investment & Insurance Solutions
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