Wednesday, 30 November 2016

Sensex rises 100 pts, Nifty holds 8150; cement stocks rally

Equity benchmarks extended gains in morning with the Nifty holding 8150 level, supported by banks and healthcare stocks. The broader markets continued to outperform benchmarks from the beginning of the week. 

10:18 am FII View: Sakthi Siva of Credit Suisse says since December 31, 2014, 2016 consensus EPS revisions for India have been cut by 27 percent, Indonesia by 25 percent, the region by 20 percent, Korea by 10 percent and Taiwan by 15 percent.

With India, Indonesia and the Philippines associated with the biggest downgrades to 2016 consensus EPS in November, this could potentially be a catalyst for further underperformance, according to her.

Also read - RBI puts withdrawal limits on accounts under PM Jan-Dhan Yojana 

10:00 am Market Check 

Equity benchmarks extended gains in morning with the Nifty holding 8150 level, supported by banks and healthcare stocks. The broader markets continued to outperform benchmarks from the beginning of the week.

The 30-share BSE Sensex was up 96.89 points at 26490.90 and the 50-share NSE Nifty rose 30.80 points to 8172.95 while the BSE Midcap and Smallcap indices gained 0.75 percent and 1 percent, respectively.

About three shares advanced for every share falling on the exchange.

Cement stocks gained strength today. Grasim, Ambuja Cements and ACC climbed over 2 percent.

ICICI Bank, TCS, Adani Ports, Maruti Suzuki, SBI, Sun Pharma and Lupin rose 1-2 percent while ITC, Reliance Industries, NTPC and Tata Steel were under pressure.
www.Bigprofitbuzz.com



No comments: