Nifty, Sensex may give up some of the recent gains – Monday closing report-The Total Investment & Insurance Solutions

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2 January 2017

Profit booking, coupled with a depreciating rupee and weak domestic macro-data pulled the Indian equities markets lower on Monday. The key indices closed marginally in the red, as selling pressure was witnessed in banking, finance and IT stocks. The 30-scrip Sensex of the BSE, which opened at 26,711.15 points, closed at 26,595.45 points - down 31.01 points or 0.12 per cent from the previous day's close at 26,626.46 points. The Sensex touched a high of 26,720.98 points and a low of 26,447.06 points during the intra-day trade. Nifty ended lower on Monday in the first trading session of 2017, snapping a four-session winning streak as banks fell on worries their profitability would be hit after reducing lending rates. The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, fell to 49.6 in December from November's 52.3. A level of 50 separates expansion from contraction. The Total Investment & Insurance Solutions

The trends of the major indices in the course of Monday’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 1,842 advances and 817 declines. Out of 1,903 stocks traded on the NSE, 417 declined and 1,194 advanced on Monday. A total of 19 stocks registered a fresh 52-week high in trade on Monday, whereas 16 stocks touched a new 52-week low on the NSE. On Friday last week, the equity markets had closed up on the back of rupee appreciation, firm global cues and value buying. The India VIX (Volatility) index was up 2.36% at 15.83. The Total Investment & Insurance Solutions 

In the broader market, the S&P BSE500 index closed 36 points higher at 11,072. In the midcap and smallcap segments, the S&P BSE Midcap index surpassed equity benchmark Sensex to settle 100 points higher at 12,131 while S&P BSE Smallcap index moved a step further to close 144 points higher at 12,190. The NSE bank index fell 1.14%, with State Bank of India, which cut its marginal cost of funds-based lending rate (MCLR) by 90 basis points across maturities, declining 2.6%. The Total Investment & Insurance Solutions

The rupee opened nearly 3 paise down at 67.95 against dollar on the first day of Calendar 2017 following global cues. The rupee was trading down 16 paise at 68.07 per US dollar. The top gainers and top losers of the major indices are given in the table below:

 

Top Gainer (The Total Investment & Insurance Solutions)

Asian markets closed flat. Japan’s Nikkei closed in red. Hong Kong’s Hang Seng and China’s Shanghai Composite ended higher. Post a weak start, European indices rebounded and Germany's DAX index touched its highest level since August 2015. Trading volumes, though, were low as markets in the UK and several other countries were closed for New Year holidays. France's CAC-40 touched a 52-week high of 4879.24 points.

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)