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13 January
2017
The markets continued to rise this week.
Nifty ended the week with a gain of 1.90%. It witnessed continuous buying
during the week before selling pressure forced Nifty to close at 8400.35
down 60.7 points from its high on Friday. The trends of the major indices in
the course of the week are given in the table below: The Total Investment & Insurance
Solutions
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Weekly Market (The Total
Investment & Insurance Solutions)
Profit booking, coupled with rupee
depreciation subdued the Indian equities markets on Monday. Pharma tumbled 1.5%
whereas Metal and Auto turned negative with 0.1% of marginal losses. All eyes
were on third quarter earnings season and macro data especially after the
currency demonetisation. Asian markets rose on Monday tracking strong closure
from main three indices of Wall Street. The Markets remained buoyed post US
jobs data and ahead of policy measures under the reign of newly elected
President Trump. The Total
Investment & Insurance Solutions
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. 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%. 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.
Positive
global cues, coupled with healthy third quarter (Q3) results pushed the
Indian equities markets higher on Wednesday.
Besides, higher global crude oil prices and anticipation of sops to be
announced during the Union Budget enhanced investors' risk-taking appetite.
Healthy buying was witnessed in banking, metal and capital goods stocks. In the
broader market, BSE Midcap index (up 1.4%) outperformed the headline indices.
BSE Smallcap index gained 0.9%. Metal index rose on account of rise in
international coking coal prices and China’s expected cut down of steel output
in the next fiscal. Investors awaited the key quarterly corporate results from
software services firm TCS and Infosys. The Asian markets was trading on a
two-month high as investors were on the edge watching for President-elect
Donald Trump's news conference later in the day for any clues to his policies
on tax, fiscal spending, international trade and currencies. The Total Investment & Insurance
Solutions
Anticipation
of budgetary sops, coupled with a strengthened rupee, buoyed the Indian
equities markets on Thursday. Buying was witnessed in capital goods, IT and
TECK (technology, media and entertainment) stocks. However, negative European
indices and caution ahead of the release of the Index of Industrial Production
(IIP) and Consumer Price Index (CPI) data for December capped gains. Pharma
index pared earlier losses but still settled the day 0.60% lower. The index was
down after Trump said yesterday pharmaceutical companies are "getting away
with murder".
The
US dollar nursed widespread losses on Thursday after President-elect Donald
Trump's long-awaited news briefing provided scant clarity on future fiscal
policies, disappointing bulls wagering on major stimulus. European shares fell,
bucking gains in Asia and Wall Street overnight and weighed down by a 2% slump
in healthcare stocks after Trump said pharmaceutical firms had been
"getting away with murder" with their prices.
Profit
booking, along with disappointing earning guidance from IT major Infosys,
dragged the Indian equities markets marginally lower on Friday. The key indices
provisionally closed the day's trade on a flat note - marginally in the red, as
selling was witnessed in IT, automobile and Teck (technology, media and
entertainment) stocks. The wider 51-scrip Nifty of the National Stock Exchange
(NSE) shed 6.85 points or 0.08% to 8,400.35 points. The Sensex touched a high
of 27,459.75 points and a low of 27,143.07 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bears -- with 1,490 declines
and 1,237 advances. Sensex closed the week with gains of 1.90%.The Total Investment & Insurance Solutions
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