Friday, 2 December 2016

Sensex, Nifty, Midcap under pressure; HDFC twins, ITC drag

Benchmark indices as well as broader markets continued to reel under pressure on further profit booking and global weakness. Banks, FMCG, technology and infra stocks were under pressure while oil stocks remained on buyers' radar. 

10:31 am FII View: Meanwhile, Drausio Giacomelli of Deutsche Bank says he is constructive emerging market in 2017 on improving prospects for global growth and better valuation, but both assets and economies will likely face a difficult start before the outlook brightens – especially for the more growth-sensitive assets.

A stormy end to 2016 and a challenging – yet hopeful – 2017 outlook characterize the emerging market complex, he feels. STOCK FREE TIPS

Drausio says, "Typically, an improving G2 outlook will compel us to readily revise up our emerging market forecasts, but this time we are guarded, owing to the makings of a zero-sum de-globalized environment. He is moderately overweight on India.

10:17 am Market Expert: The emerging markets are unlikely to do well in the near-term owing to a stronger dollar and rise in US bond yields, says Vibhav Kapoor, Director of IL&FS. He sees huge amounts of money flowing back from the EMs to the US.

Vibhav says demonetisation or not, the Indian market is bound to suffer due to this in the near-term. Nifty, he says, is sure to break the Brexit day low point of 7,927 points.

He is not too worried about the cash crunch at this point, as he feels it may only last for another month. But the main issue he says is how long the impact of demoetisation will last.

The December quarter results of companies will show the real condition, he says. He is confident that bottomline may not actually be that bad. This fact will give a boost to trader sentiments.

Also read - Buy, sell, hold: 7 key stocks that you should focus now 

10:00 am Market Check: Benchmark indices as well as broader markets continued to reel under pressure on further profit booking and global weakness. Banks, FMCG, technology and infra stocks were under pressure while oil stocks remained on buyers' radar.

The 30-share BSE Sensex was down 146.34 points at 26413.58 and the 50-share NSE Nifty fell 46.80 points to 8146.10. The BSE Midcap and Smallcap indices were down 0.3-0.5 percent as about two shares declined for every share advancing on the exchange.

HDFC, ITC, HDFC Bank, Infosys and TCS were the top five contributors to Sensex's fall, down 1-2 percent whereas Reliance Industries, ICICI Bank, ONGC, Tata Motors and Sun Pharma were gainers.

Coal India climbed over a percent after a media report indicated that the government officials proposed to break up the company into 7 companies within a year.

Asian markets stuttered, snapping out of the reprieve seen post-OPEC output cut deal, as dollar strength pauses and investors await the US jobs report. China's Shanghai, Japan's Nikkei, Hong Kong's Hang Seng, Australia's ASX 200 and South Korea's Kospi were down 0.8-1 percent.
www.bigprofitbuzz.com



4 comments:

BLF Bhumi said...

Great post, thanks for share.
row house near tcs indore

Ripples Advisory Private Limited said...
This comment has been removed by the author.
pranjali upadhyay said...

Eicher Motors highlights of the demonetization conference call: Minimal impact of demonetization on Royal Enfield; CV sales under pressure. In the month of November 2016, Royal Enfield saw strong 41% growth in wholesale volumes.
Capitalstars

Ripples Advisory Private Limited said...

If you are planning to invest in Equity market, Then Ripples Advisory is the best investment advisory or consultant for your all query's About to Equity market investment. and we are provide Equity Trading Tips