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27 December
2016
I had mentioned in Monday’s closing
report that Nifty, Sensex might bounce because it was reaching an oversold
zone. Short covering and value buying lifted the Indian equity markets on
Tuesday. The key indices provisionally closed with substantial gains of around
1.5 per cent each, as buying was witnessed in automobile, banking and
healthcare stocks. The Nifty recaptured 8000 while the Sensex surged up 400
points Tuesday. The wider 51-scrip Nifty of the National Stock Exchange (NSE)
surged by 124.60 points or 1.58 per cent to 8,032.85 points. The Sensex touched
a high of 26,249.03 points and a low of 25,803.19 points during the intra-day
trade. The trends of the major indices in the course of Monday’s trading are
given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
The BSE market breadth was tilted in
favour of the bulls - with 1,692 advances and 875 declines. Out of 1,362 stocks
traded on the NSE, 320 declined and 986 advanced today. On Monday, both the
Sensex and the Nifty had plunged as the Prime Minister's major announcement of
increasing tax rates, continuous outflow of foreign funds and selling pressure
spooked investors. The India VIX or volatility index fell more than 9% to 15.08
as benchmark indices notched up near 1.5% gains each. The Total Investment
& Insurance Solutions
The rupee was trading down 21 paise
at 67.94 per US dollar. A total of eight stocks registered a fresh 52-week high
in trades today, whereas 46 stocks touched a new 52-week low on the NSE. The
domestic market had plunged in eight out of the past 10 sessions (including
Tuesday’s trade) on rising concerns about foreign fund outflow from emerging
markets to developed markets, like the US. The BSE Midcap index outperformed
the broader market and closed 1.71 per cent higher at 11,702, while the BSE
Smallcap index gained 1.49 per cent to 11,720.
Nifty FMCG Index opened at 19,671
and touched a high of 20,154 in the day’s trade. Among the top gainers was
Dabur which was up 4.15%; it was closely followed by ITC which was up by 4.04%.
Jubilant FoodWorks was up by 2.81%, while Marico and Tata Global Beverages Ltd
also gained by nearly 2%.
Cigarette stocks hogged limelight in
Tuesday’s trade after media reports said tobacco may be exempted from a steep
hike in taxes in the Union Budget for 2017-18. Shares of Godfrey Phillips
rallied 20 per cent to Rs999. Shares of ITC advanced 4.02 per cent to
Rs234.10.
Lupin advanced 2% after the pharma
company has received tentative approval from the US health regulator to sell
Olmesartan medoximil tablets, used for treating high blood pressure, in the
American market. Shares of Bharat Financial Inclusion today snapped a
seven-session losing streak to rise 8% to Rs518 on bargain buying. The Total Investment
& Insurance Solutions
The top gainers and top losers of
the major indices are given in the table below:
 |
Top Gainer (The Total
Investment & Insurance Solutions)
Asian stocks ended mixed on a day of
thin trade as some markets were closed on account of Christmas and New Year
holiday week. Nikkei 225 ended flat at 19,403 and the Kospi of South Korea rose
0.2%. The Shanghai Composite index closed marginally lower. Hong Kong and
Australia were closed for Boxing Day. European shares were trading flat in
morning trade on Tuesday. The Total Investment & Insurance
Solutions
The closing values of the major
Asian indices are given in the table below: The Total Investment
& Insurance Solutions
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| Asian Indices (The Total Investment & Insurance Solutions) |
