
New highs of 9400 may not be far if 8983 is crossed: Rohit Srivastava, Sharekhan
The Nifty ended a 5 week winning streak closing just below the 8950 resistance mark. This is also the end of a 2 month rally from the start of the new Calendar year.
The Nifty ended a 5 week winning streak closing just below the 8950 resistance mark. This is also the end of a 2 month rally from the start of the new Calendar year.
BSE’s derivatives segment recorded a steep 78% fall in its trading turnover from Rs 203.6 trillion in FY15 to a much lower Rs 44.8 trillion in FY16.
The stock has seen its biggest volume trade since November 2012 on the NSE as a result of the series of block deals.
It said the Indian market has absorbed a slew of negative news ranging from demonitisation, a change in the Reserve Bank of India (RBI)’s monetary stance and highly volatile global bond and foreign exchange (forex) markets.
Foreign brokerage Morgan Stanley sees limited impact on HPCL/BPCL if government transfers ownership to ONGC.
It said private sector real activity slowed down led by the sharp slowdown in financial/real estate services and some moderation in construction.
JP Power Ventures surged 48.91% to Rs 6.15, GMR gained 23.70% to touch Rs 15.90 and GVK rose 10.17% to close at Rs 6.50.
In line with the bullish view, Nifty started the week on firm footing and took out the resistance of 8900-8950 going into F&O expiry.
Those with greater exposure to wholesale channels, rural markets and Northern and Eastern India were the more hurt, it said.
Corporate debt grew at a CAGR of 12% during the above period from Rs 14.2 lakh crore as on March 31, 2011 to Rs 27.9 lakh crore as on December 31, 2016.
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