Live Markets Commentary
Sify Editors @ 3:30 PM
Week Ahead: Macroeconomic data eyed; Automobile, cement stocks in focus
After six successive days of gains, the Indian market may well see some profit taking in the coming week. However, if economic data due next week turns out to be encouraging, then some good upside for the key indices is not ruled out.
Besides macroeconomic data, the rupee's movements against the U.S. dollar, the mood of foreign institutional investors and the performance of global stock markets will be eyed by investors.
On Tuesday (February 28), the data on third quarter GDP will be out. In the September 2016 quarter, gross domestic product had risen 7.3%. The impact of the ban on high value currencies from early November 2016 may well reflect on the December quarter GDP numbers.
Markit Economics will release its survey reports on the performance of India's manufacturing sector and the services sector in February 2017, on March 1 and 3, respectively.
Shares of automobile and cement companies will be in focus as automobile and cement manufactuers will come out with their sales and shipments data for the month of February 2017.
Sify Editors @ 12:05 PM
Weekly Wrap: Sensex briefly sails past 29,000 mark, ends week with 1.5% gain
The Indian stock indices Sensex and the Nifty50 posted modest gains last week - a truncated one due to a holiday on Friday for Maha Shivrathri - despite muted global cues. Bright spells in positive territory for information technology majors, strong buying in Reliance Industries, Bharti Airtel and some heavyweight bank stocks drove the indices up during the week.
The BSE benchmark Sensex briefly moved past the 29,000 mark on Thursday, but failed to hold at those levels due to profit taking at some front line counters. The Sensex ended the week with a gain of 424.22 points or nearly 1.5%, while the Nifty50 of the National Stock Exchange ended at 8939.50, gaining 117.80 points or 1.33%. The BSE Midcap and Smallcap indices gained 0.81% and 0.89%, respectively.
It was a good start for the market last week with investors indulging in some strong buying at several counters on Monday, despite mixed global cues. Information technology, metal and power stocks hogged the limelight. The Sensex ended up 192.83 points on that session, while the Nifty50 gained 57.50 points.
On Tuesday, the market shrugged off a listless start and edged higher, thanks to some short-covering in some front line stocks ahead of near month derivatives expiry. Activity was mostly stock specific, with recent batch of quarterly earnings reports and other corporate news providing direction. The Sensex gained about 100 points and the Nifty50 advanced 28.65 points.
Riding on the strength of Reliance Industries, which soared to an 8-year high on hopes Reliance Jio Infocomm's new tariff plans will help generate strong revenue for the group, the market rose on Wednesday. The Sensex ended up 103.12 points, while the Nifty50 gained 19.05 points.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 43295.00||Rs. 30620.32|
|Mumbai||Rs. 43295.00||Rs. 30877.01|
|Delhi||Rs. 43295.00||Rs. 30695.19|
|Kolkata||Rs. 43295.00||Rs. 30812.83|
|Kerala||Rs. 43295.00||Rs. 29839.57|