Contact Your Financial Adviser Money Making MC
19
June 2017
I had mentioned in Friday’s closing report that Nifty,
Sensex were to move sideways. The major indices of the Indian stock markets
rallied on Monday and closed with handsome gains over Friday’s close. The
trends of the major indices are given in the table below: The Total Investment & Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Cheered
by positive global cues and healthy buying in banking, metal and capital goods
stocks, the Indian equity markets surged on Monday, the 30-scrip Sensitive
index (Sensex) of the BSE closing at another fresh high. Shares of major banks
rose and added to the gains on reports that Prime Minister Narendra Modi will
review the measures taken by the Reserve Bank of India (RBI) to resolve the
non-performing assets (NPA) issue of the Indian state-run banks. The Bank Nifty
index scaled a record high of 23,806.65 points. The wider Nifty of the National
Stock Exchange (NSE) rose by 69.50 points or 0.72% to close at 9,657.55 points.
Besides, investors' sentiments were buoyant after the GST Council on Sunday
unanimously agreed on the July 1 rollout of the Goods and Services Tax (GST)
regime. However, the BSE market breadth was bearish -- with 1,467
declines and 1,218 advances. The Total
Investment & Insurance Solutions
In
terms of the broader markets, the BSE mid-cap and small-cap indices
underperformed the Sensex. The S&P BSE mid-cap index was a tad up by 0.07
per cent, while the small-cap index was a bit lower by 0.08%.Positive global
cues aided the market sentiments. Gains in index heavyweight ITC and metal
stocks boosted key benchmarks higher, while selling in index pivotal Infosys
capped gains, pointed out market analysts. Major Asian markets have ended on a
positive note. European indices like FTSE 100, CAC 40 and DAX traded higher.
Positive cues from Europe steadied nerves at the start of the week, and with
bad loan resolution efforts gaining traction, banking stocks led stocks higher.
Meanwhile, potential for re-rating will vest on how swiftly would concerns over
GST dissipate. On the currency front, the rupee closed flat at 64.42 to a US
dollar from its previous close. Sector-wise, the S&P BSE banking index
surged by 255.83 points, the metal index by 209.57 points, and the capital
goods index by 129.69 points. On the other hand, the S&P BSE healthcare
index fell by 67.24 points, the consumer durables index by 35.69 points and the
realty index by 6.71 points.
The
top gainers and top losers of the major indices are given in the table below:
 |
Top Gainer (The Total
Investment & Insurance Solutions)
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) |
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