Contact Your Financial Adviser Money Making MC
6
June 2017
I had
mentioned in Monday’s closing report that Nifty and Sensex were on an uptrend.
The
major indices of the Indian stock exchanges closed with minor losses over
Monday’s close. The trends of the major indices in the course of Tuesday’s
trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
Indian
stocks declined the most in over a week as investors held back their bets ahead
of the central bank’s policy decision due Wednesday.
The
S&P BSE Sensex fell nearly 0.4% to 31,190 while the NSE Nifty 50 index too
dropped 0.4% to 9,637. Earlier, the 50-share benchmark managed to open above
the 9,700-mark for the first time ever. The market breadth turned in favour of
the bears by the end of trade. About 5 stocks declined to every 1 that gained
on the NSE. BSE Mid-cap Index closed down 0.6% at 14732 whereas, BSE Small-cap
Index closed down by 0.6% at 15310. There were 527 advances, 1107 declines and
320 unchanged stocks on NSE, reflecting fairly bearish undertone floating in
the market. The Total Investment & Insurance
Solutions
Caution
reigned across markets in a week loaded with risk events, from former FBI chief
James Comey’s congressional testimony to the ECB’s policy meeting and Britain’s
increasingly uncertain election. Gold headed for a seven-month high and
the yen rose to the strongest since April, while 10-year Treasury yields fell
to the lowest since November. The dollar traded at an eight-month low and U.S.
stock futures slipped. Europe’s benchmark share index fell the most in a week
led by Swiss pharmaceutical company Roche Holding AG after one of its drug
studies disappointed. South Africa’s rand slumped after the country fell into a
recession for the first time since 2009. Gold climbed 0.9% to $1,291.24 an
ounce, advancing for a third day to the highest since November on a closing
basis. The Total Investment & Insurance
Solutions
Nifty
edged down on Tuesday after earlier surpassing the 9,700-point level for the
first time, as markets took a breather from a record-hitting spree a day before
the central bank's policy meeting. The Reserve Bank of India is likely to keep
interest rates unchanged at 6.25% at its review on Wednesday, but likely to
sound less hawkish than the last monetary policy committee meeting. The Total Investment & Insurance Solutions
Sentiment
was also subdued after Asian shares fell amid a slew of risk factors, including
escalating tensions in the Middle East, the coming testimony of the former FBI
director, British elections and a European Central Bank meeting.
Indian
shares end lower after shedding early gains. The benchmark BSE index also
followed suit, opening at an all-time high of 31,420.85. The Total Investment & Insurance Solutions
ITC
Ltd's shares fell as much as 2.6% in their biggest intraday percentage drop in
over a month and were among the top percentage losers on the NSE index. India
Grid Trust fell as much as 6.3%in its debut due to a lack of investor
familiarity with infrastructure investment fund. Among gainers, State Bank of
India rose as much as 2% to its highest in two weeks after a share sale to
institutional investors to raise as much as $2.33 billion was fully covered
within hours of the launch on Monday. Adani Enterprises Ltd surged as much as
6.90% to its highest in one week, after the company gave final investment nod
for the Carmichael coal mine and railway in Australia. The Total Investment & Insurance Solutions
IT
stocks were on a roll on Dalal Street, mainly led by gains of heavyweights like
TCS, Infosys and HCL Tech. These stocks jointly contributed to the BSE IT gains
and pushed it up by 2.6%. India Grid InvIT listed on the bourses at Rs99.02 per
share at a discount of 1.6%. The IPO of India Grid InvIT to raise Rs2,250 crore
was subscribed 65% on the last day of the offer. Tata Motors declined nearly 4%
intraday basis after reporting subdued UK sales growth by Jaguar Land Rover
(JLR), closing at Rs461 lower by 3.4%. Tata Elxsi surged 5.11% extending its
Monday's gains after the company announced that its driverless car platform is
selected by leading original equipment manufacturer. The stock closed at Rs1540
higher 3.2%.
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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