Benchmark indices pared gains to end flat, losing over 1.5% in the week on foreign fund outflows amid worries that the government may widen its fiscal deficit target of 3.2% of gross domestic product for the year ending in March 2018 to boost an economy that grew at a slower pace than expected.
Broader markets outperformed benchmark indices with BSE Midcap and BSE smallcap indices gaining 0.8% and 1% respectively. Both indices ended over 1% for the week
Foreign investors net selling equities worth $1.1 billion during the month. They had sold worth $2 billion in shares in August.
Bajaj Auto, Adani Ports, GAIL and Eicher Motors gained the most on both indices, while HUL and Wipro were the top losers.
Realty firm Godrej Properties today said it has entered into a joint venture agreement with Royale Builders and Developers to develop a 13-acre group housing project in north Bengaluru.
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Equity benchmark indices witnessed a carnage on Friday, with the Sensex ending nearly 450 points lower, while the Nifty breached 10,000-mark, falling over 150 points.
The benchmark indices fell over 1%, extending losses for the fourth straight session, while the rupee hit its weakest point since early April amid concerns that the government’s plan for a stimulus to halt an economic slowdown may have a negative impact on the fiscal deficit.
Global investor sentiment was also subdued after North Korea said it might test a hydrogen bomb in the Pacific Ocean and escalated a war of words with US President Donald Trump.
The Sensex closed down 447.60 points at 31922.44, while the Nifty ended lower by 157.50 points at 9964.40. The market breadth was negative as 524 shares advanced against a decline of 2,082 shares, while 144 shares were unchanged.
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Benchmark indices settled the day higher, gaining for the fourth straight week driven by financials even after RBI put HDFC Bank back in the FII ban list.
The Central Bank said the private bank has crossed overall limit of 74% of its paid-up capital and no further purchases of shares the bank would be allowed via exchanges for FIIs. It had allowed allowed foreign investors to resume buying in the private bank earlier.
Nifty50 rose as much as 1.3% during the early morning trade led by HDFC Bank after it gained 9.5% to a record high of Rs 1,454.
The S&P BSE Sensex settled the day at 28,469, up 167 points, while the broader Nifty50 ended at 8,822, up 44 points.
In the broader market, BSE Midcap and BSE Smallcap gained 0.5% and 0.4% respectively.
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Benchmark indices continued the cheer as investors traded in the final trading session of 2016. Markets rose over 1% in today’s trade to post a yearly gain as they recover from the recent losses tracking various local and global cues.
Nifty gained around 300 points in the last 4 sessions to end the year over 8,200 in 2016 led by gains in Aurobindo Pharma, GAIL, Sun Pharma and ITC . On the other hand, Sensex rose as much as 308 points today to settle the year 544 points higher.
The S&P BSE Sensex ended at 26,626, up 260 points while Nifty50 gained 82 points at closing, to quote at 8,186. Among broader markets, BSE Midcap gained 1.15% while BSE Smallcap was up 0.97%. About 1691 shares have advanced, 570 shares declined, and 145 shares are unchanged.
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Benchmark indices ended lower weighed down by profit taking in financials and index heavyweight Reliance Industries. However, the downslide was limited due to buying interest in select IT and FMCG shares.
The benchmark S&P Sensex closed at 28,077 levels, down 52 points or 0.2%. Nifty50 index slipped 6 points, or 0.1%, to close at 8,693 levels. The broader markets out performed the benchmark indices. The S&P BSE Midcap and Smallcap rose 0.1%-0.3%.
Cipla was the top Sensex loser, down over 3% after the pharma major today lost a case related to overcharging in certain drugs, in violation of the provisions of drug (price control) order, 1995. As per the company’s latest annual report, it had received notices of demand aggregating to Rs 1,768.51 crore.
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The market on Friday ended on a firm note with the Sensex up 100.45 points or 0.4 percent at 26625.91 and the Nifty was up 29.45 points or 0.4 percent at 8170.20. About 1240 shares advanced, 1333 shares declined, and 184 shares were unchanged. Bharti Airtel, TCS, Tata Motors, HDFC and Coal India were top gainers while Sun Pharma, Dr Reddy’s, Tata Steel, SBI and L&T are losers in the Sensex.
Here are some picks from the week gone by.
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Another week goes by and we are now in the final week of the financial year. While we all know we don’t always pick winners, we make our sincere attempt not to lose our hard-earned money. We hope the year has been as fruitful for all investors as it has been with us here at StockArchitect. Here are some of the picks from the week that just went by.
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Another week ends and we are nearing the financial year end. We at StockArchitect hope that all of you have made a lot of money during this financial year. Our motto is to help investors take an informed decision based on the collective views of others.
Here are some picks we pulled out from the week gone by.
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