Contact Your Financial Adviser Money Making MC
9
February 2017
I had mentioned in
Wednesday’s closing report that Nifty, Sensex may struggle to go higher. The
major indices of the Indian stock markets ended almost flat on Thursday and
remains overbought. The trends of the major indices are given in the table
below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Indian
equity benchmarks remained flat for the third day as the investors shifted
their focus back to December quarter results and global cues. The BSE market
breadth was marginally tilted in favour of the bears with 1,513 declines and
1,382 advances. On Friday, the markets will closely watch third quarter
earnings of SBI and Bank of Baroda, country’s largest public sector lenders
after observing more or less stable earnings from banks. Nifty50 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/$
The
barometer 30 scrip sensitive index, which opened at 28,349.22 points, traded at
28,329.70 points down 19.52 points or -0.14% from the previous close at
28,289.92 points. The top gainers and top losers of the major indices are given
in the table below: The Total Investment
& Insurance Solutions
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| Top Gainer (The Total Investment & Insurance Solutions) |
Among
other Sensex stocks, ITC and Reliance Industries gained 0.7-1% whereas HDFC
Bank, L&T, NTPC was down 0.6-2.6%. The
Total Investment & Insurance Solutions
The
closing values of the major Asian indices are given in the table below:
 |
Asian Indices (The Total
Investment & Insurance Solutions)
Among
secondary barometers, the BSE Mid-Cap index rose 0.23%. The BSE Small-Cap index
gained 0.19%. Both these indices outperformed the Sensex. 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). Bank Nifty ended 0.47% as private sector banks, City Union
Bank, IndusInd Bank, HDFC Bank, ICICI Bank, Yes Bank and RBL Bank edged lower.
Welspun
India grew by 7.6% to Rs94.45, on strategic agreement with Cotton Egypt
association while Maharashtra Seamless rallied 8% to Rs3301, after bagging an
order by ONGC worth Rs421 crore. The
Total Investment & Insurance Solutions
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