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10
February 2017
Last
week, we had mentioned that Nifty and Sensex are reaching overbought zone. The
major indices in the Indian stock markets ended flat over the week when there
was a monetary policy review and December quarter results. 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
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Positive
global cues, coupled with a strong rupee and higher crude oil prices, lifted
the Indian equities markets on Monday. The key indices provisionally closed
with gains of more than 0.5% each, even as some gains were capped due to profit
booking. Buying was witnessed in banking, consumer durables and healthcare
stocks. The Total Investment & Insurance
Solutions
Profit
booking, coupled with negative global cues and a weak rupee, pulled the Indian
equities markets lower during the mid-afternoon trade session on Tuesday.
Besides, investors were cautious ahead of the monetary policy review of the
Reserve Bank of India (RBI). The key indices traded in the red, as selling
pressure was witnessed in automobile, metal and IT (information technology)
stocks. The Total Investment & Insurance
Solutions
Moreover,
flat crude oil prices and a weak rupee also added to the downward trend of the
markets. Firm USD/INR futures prices pressurised the price movement of the
Indian equities markets. IT (information technology) stocks traded down due to
selling pressure, while oil-gas, textile, aviation, media-entertainment, cement
and power sector stocks traded with bearish sentiments due to profit booking at
higher levels. The Total Investment & Insurance
Solutions
Indian
equities markets on Wednesday remained flat even after the Reserve Bank of
India (RBI) decided to keep its key lending rate unchanged at 6.25% in its
sixth and final monetary policy review for 2016-17. The Sensex fell 186 points
intraday on profit booking, especially after the Monetary Policy Committee kept
repo rate steady at 6.25% The 30 share BSE Sensex was down 45.24 points at
28289.92 and the 50 share NSE Nifty rose 0.01% points to 8769.05. The Monetary
Policy Committee decided to hold repo rate, at which banks borrow money from
RBI, at 6.25% and cash reserve ratio at 4%, while keeping its commitment to
ensure an efficient and appropriate liquidity management. However, it changed
policy stance to neutral from accommodative, citing concerns about rising
commodity prices and global uncertainty and feels there is scope for banks to
cut lending rates. The Total Investment & Insurance
Solutions
Nifty
and Sensex recovered on Thursday from the day’s low just like the recovery made
on Wednesday after RBI’s monetary policy review. Metals, banks, capital goods
and healthcare stocks observed some profit booking and IT, telecom, consumer
durable, realty stocks saw some gain. Rupee was up by 35 paise by Rs66.84/$.
Most bank stocks declined. IT stocks advanced in positive market. Meanwhile,
the Sensex declined bounced back after falling 149.36 points or 0.53% in two
trading sessions to 28,289.92 yesterday, 8 February 2017, from its close of
28,439.28 on 3 February 2017. The Sensex has risen 673.74 points, or 2.44% in
February 2017 (till 9 February 2017). The Total
Investment & Insurance Solutions
On
Friday, the indian equity benchmarks closed flat, with S&P BSE Sensex
rising 4.55 points to 28334.25 and Nifty 50 up by 15.15 points to 8793.55. The
BSE market breadth was marginally tilted in favour of the bears with 1,539
declines and 1,321 advances.
Investor
sentiment remained cautious ahead of IIP (Index of Industrial Production)
numbers for December, which is scheduled to be released later in the evening
today.
SBI
reported revenue growth of 11.88% to Rs75,537.22 crore and net profit growth of
70.88% to Rs1,259.47 crore for the December 2016 quarter. Its share closed
0.15% up to Rs276.25 on BSE. Among the sector-related stocks, Petrochemicals,
Information Technology, Gems and Jewellery, Beverages - Alcoholic, Beverages -
Non-Alcoholic stood among top gainers, while Aquaculture, Packaging, Iron and
Steel, Glass, Rubber sector-related stocks remained among top losers.
Tata
Power Company rose 0.18% after the company's consolidated net profit rose 38.3%
to Rs 599.20 crore on 9.82% fall in total income to Rs 6604.59 crore in Q3
December 2016 over Q3 December 2015.The Total
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