The frontline stocks may have fallen flat even after showing promise, but second-rung stocks held fort and delivered handsome returns on Wednesday.
Shares of cigarette makers were back in vogue on Tuesday amid media reports that tobacco may be exempted from any steep hike in taxes in the Union Budget for 2017-18.
Amid the sea of red in the listed universe, there were some rays on hope. In this piece, we have captured a lot more of that and other market-moving events from the day.
According to Kotak Institutional Equities, steel demand is yet to pick up meaningfully in India with April-November 2016 growth reported at a mere 3.1 per cent.
The Nifty Realty index was the biggest sectoral loser of the day with a drop of 1.29 per cent. The index took a heavy beating following the demonetisation move.
The heavyweight Nifty Bank index again cut a sorry figure on Thursday, as it plunged 1.07 per cent to 17,891. In the process, the index broke the 200 DMA.
Shares of software exporters hit speed bumps on Wednesday as the BSE IT index saw the biggest sectoral loser before falling 0.75 per cent.
The relationship between the rupee and the IT firms is inversely proportional. Shares of the software exporters went northwards on Tuesday after the currency again slipped below the 68 level.
The BSE Oil and Gas index rose nearly 1 per cent on Monday after shares of the oil marketing companies (OMCs) zoomed following a hike in petrol and diesel prices.
Three rates hikes by the Fed in 2017 may be too hot to handle for emerging markets, including India, and even the Wall St seems to have said: Hey go slow, Miss Yellen!
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