Weekly Equity Report by Indira Securities (03 Oct to 06 Oct 2017)

Weekly Equity Report by Indira Securities (03 Oct to 06 Oct 2017)

Weekly CURRENCY COMMODITY Report by Indira Securities (09 Oct to 13 Oct 2017)
Stock Market Latest News | Top Stories | MARKET PULSE on Thursday,3 November 2017
Stock Market Latest News | Top Stories | MARKET PULSE on Friday,27 october 2017
Stock Market Latest News | Top Stories | MARKET PULSE on TuesDay,03 october 2017

Top Stories This Week

 Among economic data in US, orders for durable goods rose 1.7% in August, beating forecasts for a 1% rise. The National Association of Realtors’ pending home sales index fell 2.6% to 106.3 in August, the group said. That was the lowest reading since January 2016 and put the index 2.6% lower than its level a year ago.

 In the US, Federal Reserve Chairwoman Janet Yellen cautioned against moving too slowly on interest rates. Yellen said there is a risk that the labor market could become overheated, causing an inflation problem down the road.

 Japanese Prime Minister Shinzo Abe ordered his cabinet to compile new economic stimulus measures in a package worth around 2 trillion yen ($17.80 billion) by the end of the year.

 Annual profits at China’s industrial companies rose 24% in August, accelerating from the previous month in an indication economic growth remains in good heart even as signs emerge of fading momentum following a robust first half.

 Among key domestic developments, Prime Minister Narendra Modi has constituted the Economic Advisory Council to the Prime Minister (EAC-PM). The fivemember council consists of economists of high repute and eminence. It consists of Dr. Bibek Debroy, Member, NITI Aayog- Chairman, Dr. Surjit Bhalla- Parttime Member, Dr. Rathin Roy- Part-time Member, Dr. Ashima Goyal- Part-time Member and Ratan Watal, Principal Advisor, NITI Aayog – Member-Secretary.

MARKET COMMENTARY

The Nifty 50 index gained 19.65 points or 0.2% to settle at 9,788.60, its highest closing level since 26 September 2017. The Nifty gained 85.05 points or 0.87% at the day’s high of 9,854. The index gained 6.40 points or 0.06% at the day’s low of 9,775.35.

Key benchmark indices settled with small losses in a range-bound session of trade on Tuesday, 26 September 2017. The Sensex fell 26.87 points or 0.08% to settle at 31,599.76, its lowest closing level since 29 August 2017 The S&P BSE Mid-Cap index declined 1.11%. The S&P BSE Small-Cap index shed 1.1%. The losses in both the indices was lower than the Sensex’s slide in percentage terms.

For the next week Nifty likely to trade in the range between 9659-10337.

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