Mumbai: The stalemate over the Greek debt crisis subdued investor sentiments and led a benchmark index of the Indian equities markets to provisionally close in the red today.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) provisionally closed the day’s trade more than 90 points down.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) also provisionally closed marginally down. It closed the day’s trade 16 points or 0.19 per cent at 8,382 points.
The Sensex of the S&P BSE, which opened at 27,880.72 points, closed the day’s trade at 27,803.27 points (at 3.30 p.m.), down 92.70 points or 0.33 per cent from the previous day’s close at 27,895.97 points.
The Sensex touched a high of 27,912.86 points and a low of 27,675.16 in the intra-day trade.
Mumbai, December 6, 2016: Hopes of a monetary policy easing, coupled with broadly positive global cues, along with rupee appreciation marginally lifted the Indian equity markets during the mid-afternoon trade session on Tuesday.
The key Indian indices traded in the green, as healthy buying was witnessed in oil and gas, banking and IT stocks.
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The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 27 points or 0.33 per cent to 8,155.75 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,403.62 points, traded at 26,432.73 points (at 1.45 p.m.) — up 83.63 points or 0.32 per cent from the previous close at 26,349.10 points.
The Sensex has touched a high of 26,502.43 points and a low of 26,393.99 points during the intra-day trade so far.
The BSE market breadth was skewed in favour of the bulls — with 1,633 advances and 828 declines.
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“The markets traded on a flat-to-positive note following largely positive global indices and the rupee gaining momentum,” Astha Jain, Senior Research Analyst at Hem Securities, told IANS.
“Investors’ sentiments are buoyant on the hopes of a repo rate cut by the RBI by 25 basis points.”
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, IT, oil-gas, cement and power stocks traded with firm sentiments.
“However, banking, pharma, textile and aviation stocks traded with bearish sentiments,” Desai said.
UK is in the state of mourning and there’s an atmosphere of politic toxicity
Brexit was a boiling pot waiting to explode, that the resentment of the public in UK had reached its ‘Breaking Point’
There’s a petition doing the rounds that is demanding for a second EU referendum
Brexit- Britain exit- a final act by the UK to seal shut their borders, to put an end to the growing fears of Terrorism, to retain the 350 mn pounds a week, which went as Membership fees to the EU and well, to be in charge of making their own laws and relationships. All the above and then some more were the reasons cited by some civilians and the far right parties for being Pro-Brexit.
There are always two sides to a coin. In this case there was a side, which resulted in Sensex plummeting down, Pound dropping down to levels not seen since 1985 and then the silver lining -Immigration being controlled. And then there was the side of the progressive citizens, the ones believing in Co-operation and not confrontation, a side, which believed in pulling together because without immigrants UK will collapse. On Thursday, June 23, UK saw the former being voted by 51.9% of the population.
Currently, UK is in the state of mourning and there’s an atmosphere of politic toxicity. While the world was still trying to wrap their head around the recent separation, David Cameron, British Prime minister announced his resignation saying, “I do not think it would be right for me to try to be the captain that steers our country to its next destination”. Nigel Farage, leader of the UK Independence Party publicly retracted his claim that there’d be £350M a week set out for NHS (National Health Service) after the outcome of Brexit, after 17 million people voted to leave, some solely based on that piece of information. And all of the above happened in 24 hours. Phew!
Some would argue that Brexit was a boiling pot waiting to explode, that the resentment of the public in UK had reached its ‘Breaking Point’- headline of a controversial poster showing a vast queue of refugees which was unveiled by Nigel-and that the wrong doing of the government, the unemployment scene and the anti-immigrant feeling, all of it together had resulted in what UK stands as today. Separated but failed.
Impact on the Indian Market
“India remains a haven of stability in the risk environment” says Jayant Sinha, Minister of State for Finance. Even as he spoke, the fact that Brexit knocked off Rs. 4 Lakh crore from Indian Stock market remained a fact. Tata Motors and Tata Steel have the most significant exposure to UK and fell over 10% on Thursday,June 23, due to Brexit snowball effect. Needless to say Indian owned Businesses in the UK would also feel the heat.
There’s a petition doing the rounds that is demanding for a second EU referendum. This petition was introduced by William Oliver Healey and it reads, “We the undersigned call upon HM Government to implement a rule that if the Remain or Leave vote is less than 60 per cent based a turnout less than 75 per cent there should be another referendum.” It’s already signed by more than a million people and the numbers just seem to be going up. The response of the Government on the above matter is still pending.
As of now we can simply go by the statement, ‘The British people have spoken and the decision shall be respected.’
-This report is compiled by a Staff-writer at NewsGram.
Mumbai: After a fall for six consecutive days, key Indian equity indices unexpectedly opened higher on Thursday, as investors looked for fresh positions.
Analysts had expected the market to again open lower on account of developments both within the country and outside.
Against the previous close at 25,036.05 points, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 25,136.71 points. Within minutes into trading, the key index was ruling at 25,132.43 points, with a gain of 96.38 points, or 0.38 percent.
At the National Stock Exchange (NSE), too, the broader 50-share Nifty opened on the positive note and was ruling at 7,644.20 points with a gain of 31.70 points, or 0.42 percent, over the previous close at 7,612.50 points.
The underlying sentiments, however, is one of caution as investors are concerned over the delays in the passage of some key economic legislations in parliament, such as the one to introduce a pan-Indian goods and services tax regime, analysts said before the markets opened for trading.
The mood will also remain affected by mixed signals from the Chinese economy and falling commodity prices.
On Wednesday, the two key Indian indices had ended in the red. While the 30-share Sensex ended with a loss of 274.28 points or 1.08 percent, Nifty fell 89.20 points or 1.16 percent.
Continuing net sales by foreign funds, ahead of a likely US rate hike, further depressing investors.
“After an early move in the Wednesday’s trading session, the US stocks failed to sustain the upside move and closed in the negative territory. The positive movement was mainly fueled by a slight rebound in oil prices,” Angel Broking said in an analysis, ahead of the opening bell in India.
“The European markets also continued to slide and closed on a negative note. The encouraging economic data from Japan and China failed to boost investor sentiment amidst lower crude and commodity prices,” the brokerage said.
In the Asia-Pacific markets, the sentiments appeared to be mixed. Japan’s Nikkei and Australia’s S&P/ASX 200 were down, but Hong Kong’s Hang Seng and China’s Shanghai Composite were up after paring some early losses on Thursday morning. South Korean Kopsi was flat.(ians)