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INDIAN EQUITY MARKET OUTLOOK – 17 FEB 2017

market-update

Market off early high

Indian Indices:

Equity benchmarks started off last day of the week on a spectacular note, with the Senses rising more than 400 points supported by HDFC Bank. The 30-share BSE Sensex was up 400.89 points or 1.42 percent at 28702.16 and the 50-share NSE Nifty rose 95.60 points or 1.09 percent to 8873.60.

The rally also spilled over to HDFC that gained 2.63 percent. Axis Bank, Kotak Mahindra Bank and ICICI Bank surged 1-2 percent. GAIL and Lupin were other gainers. Cadila Healthcare gained further, up 2.8 percent hitting a 52-week high.

The Indian rupee slipped in the early trade on Friday. It has opened lower by 5 paise at 67.12 per dollar versus previous close 67.07. The dollar weakened against a basket of major currencies, due to lower US bond yields and uncertainty over the timing of the Federal Reserve’s next interest rate increase.

Global Market:

Asia markets opened lower on Friday, tracking losses in the US from the Thursday session, as Samsung Group shares were in focus following the arrest of its chief.

Japanese electronics company Sharp beat the broader index to trade up 1.86 percent at 328 yen, after the company revised its earnings estimates.

U.S. President Donald Trump’s first solo news conference on Thursday, where he took a combative stance against the news media and deflected questions about contacts between his presidential campaign and Russian operatives, also gave investors pause.

Major Headlines of the day:

  • Under enigmatic Patel, Indians failing to read central bank policy
  • Confident of growth, RBI chief has watchful eye on inflation
  • Foreign investors can now buy more HDFC Bank equity

Trend in FII flows: The FIIs were net buyers of Rs  -215.69 the cash segment on Thursday while the DIIs were net sellers of Rs 846.11 as per the provisional figures.

Securities in Ban For Trade Date 15-FEB-2017:

1       IBREALEST

2       IFCI

3       JETAIRWAYS

4       RCOM

5      TV18BRDCST

6       HDIL

7       UNIONBANK

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