Markets posted gains in four out of five sessions last week, finishing on a firm note as investors heaved a sigh of relief after the US Federal Reserve hiked interest rates by 25 basis points citing confidence in the world’s largest economy.
The US Federal Reserve’s first rate hike in a decade was a non-event for Indian markets, which had already factored the move in. Additionally, the US central bank signaled future increases in interest rates would be gradual.
The S&P BSE Sensex surged 475 points or 2% to end at 25,519 over the week, while the Nifty50 surged 152 points or 2% to close at 7,762. However, the broader market outperformed the benchmarks. The BSE Mid-Cap index jumped 3.2% and the BSE Small-Cap index gained 2.8%.
KEY STOCKS
In order to reduce pollution in New Delhi, the Supreme Court banned the registration of diesel sports utility vehicles and cars with an engine capacity of over 2,000cc in the national capital region until March 31, 2016. Auto stocks closed on a mixed note. M&M, whose product line-up is dominated by diesel-driven SUVs, dropped 1.4% while Tata Motors tand Maruti Suzuki gained between 0.1% and 3%.
Wipro fell 2.08% as the company expects that the recent heavy rainfall and resultant flooding in Chennai will have a material impact on the revenues and will result in higher one-time cost incurred towards deployment of the company's business continuity plan.
On the flip side, steel stocks climbed this week with Tata Steel gaining 6% and emerging as the biggest gainer in the 30-share Sensex pack after the government imposed anti-dumping duty on stainless steel imports to protect the domestic industry from cheap imports. Among other stocks, Jindal Steel, JSW Steel and SAIL advanced between 5%-7%.
Other prominent gainers include HDFC, Sun Pharma, Infosys, Reliance Industries, Hindalco and HUL up between 4%-5%.
Get real time advice for Intraday Trading Tips , Share Market Tips , Equity Tips , Intraday Equity Tips , Stock Trading tips , Free Intraday Tips , Best Accurate Stock Tips and all Maket Updates . Get 2 Days Free Trial visit :- http://capitalstars.com/equity/ U can call us +917316790000,6669900 ..
0 comments:
Post a Comment