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Thursday 15 December 2016

Market ends with small losses : 15 Dec 2016

Key benchmark indices ended the volatile session with small losses. The barometer index, the S&P BSE Sensex, fell 83.77 points or 0.31% to 26,519.07, as per the provisional closing data. The Nifty 50 index fell 28.85 points or 0.35% to 8,153.60, as per the provisional closing data.
The Sensex rose 135.02 points, or 0.51% at the day`s high of 26,737.86 in mid-morning trade. The index fell 195.26 points, or 0.73% at the day`s low of 26,407.58 in early trade, its lowest level since 8 December 2016. The Nifty rose 43.45 points, or 0.53% at the day`s high of 8,225.90 in mid-morning trade. The index fell 60.50 points, or 0.74% at the day`s low of 8,121.95 in early trade, its lowest level since 7 December 2016.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,321 shares rose and 1,287 shares declined. A total of 170 shares were unchanged. The BSE Mid-Cap index provisionally ended flat. The BSE Small-Cap index provisionally rose 0.21%. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 2574.03 crore, higher than turnover of Rs 2383.04 crore registered during the previous trading session.
Most metal shares edged higher. Hindustan Zinc (up 3.30%), NMDC (up 1.76%), Steel Authority of India (up 1.14%), Hindalco Industries (up 0.54%), Bhushan Steel (up 0.37%), Tata Steel (up 0.34%), Vedanta (up 0.19%) and JSW Steel (up 0.08%), edged higher. Hindustan Copper (down 0.5%), Jindal Steel & Power (down 2.51%) and National Aluminium Company (down 7.63%), edged lower.
Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for March 2017 delivery was currently down 0.46% at $2.592 per pound on the COMEX.
Most telecom stocks edged lower. MTNL (down 1.59%), Bharti Airtel (down 1.26%), Reliance Communications (down 0.28%) and Idea Cellular (down 0.06%), edged lower. Tata Teleservices (Maharashtra) rose 0.80%.
Telecom tower infrastructure provider Bharti Infratel fell 1.5%.
Overseas, most European stocks were trading higher in early trade today, 15 December 2016, after the Federal Reserve raised interest rates for the first time in a year and as investors eyed the Bank of England`s monetary policy decision due later in the trading session.
Asian stock markets edged lower as the dollar strengthened sharply and investors digest the Federal Reserve`s first interest rate rise this year and its hawkish rate outlook for 2017. Higher interest rates in US would attract foreign investments from emerging markets towards the US.
US stocks ended a volatile session lower yesterday, 14 December 2016, as investors grappled with the prospect of a faster pace of rate increases in 2017 than had been previously forecast.
The Federal Reserve raised its key short-term rate yesterday, 14 December 2016, on the expected lines, but it also forecast three rate increases in 2017, compared with the two that had been anticipated at its previous meeting in September. The increase was unanimous and modest, raising the Fed`s key interest rate by a quarter point, from a range of 0.25 to 0.5% to a range of 0.5 to 0.75%.


Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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