India Leapfrogs In World Bank Ranking; Indices On High

Nov 03, 2017 | 05:10 PM IST

Market This Week:

It was a historic week for the Indian stock market as all three indices (Sensex, Nifty and Bank Nifty) are at an all-time high due to huge buying within PSU banks, metals and specially in consumer durable sectors. India's rank has improved 30 spots to secure a place among the top-100 countries in World Bank's ease of doing business ranking list in 2018 and this has created a positive environment in the Indian market. Crude oil price is increasing continuously in the global market and the rupee was under a little under pressure this week.

Movers & Shakers:

Consumer durable stocks of companies like Symphony Ltd, TTK Prestige, and Titan company Ltd have been gaining in the market. These stocks have posted outstanding results too. Sugar stocks have also increased in the market as the government has increased 5% price of ethanol to ease pressure on suppliers of the fuel and cut crude imports. UPL tanked almost 6% this week despite a good result presented by a company as some profit booking was seen in this stock. Bhushan Steel Ltd tanked 20 % this week due to Earc Trust SC selling 35 lakh shares.

Key Market Drivers:

1) India reaches 30th spot in the ease of doing business in the World Bank's ranking list in 2018.
2) Pharma stocks may face problem in coming days as US states have filed lawsuits against these companies over alleged price manipulation within the US.
3) The government has increased the price of ethanol by 5% to ease pressure on suppliers of the fuel and cut crude imports.
4) Earnings season is also pushing the market in a positive direction as some of the companies in metals, consumer durable and chemical sector companies present very good numbers for the second quarter.
5) USA Fed has maintained the status quo on interest rate decision.

Event To Watch:

The Energy Information Administration's (EIA) USA Crude Oil Inventory is expected to come on 8th of November and it's important to follow as crude oil has been gaining in the market. Result season is going on and some of the companies presenting a very good number for the second quarter.

Stocks To Watch

Yes Bank is on the upside while Escorts Ltd is on the downside.

 

ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to pave a smooth road for our clients in the shaky world of stock market. While...
FULL BIO

LEAVE A COMMENT

RECOMMENDED READING

Stop! Read Before You Invest In These Trending Stock Market Tips

Various popular stock market news portals and TV channels discuss trending stocks and provide free tips but without in-depth research. We create well-researched equity analysis on these trending stock tips in a single place so you don't waste your
Read More>>

Free Research Report - KNR Constructions Ltd

KNR Construction Ltd (KNRCL) is one of the leading infrastructure company
Read More>>

Moody's Changed The Mood Of The Market; Sensex & Nifty Up

Market This Week The week started with the council meeting of GST where they reduced the GST tax slab of 178 items, especially on daily used items and AC/Non AC restaurants to
Read More>>

How Would You Manage Your Wealth If YOU Were An HNI?

What things come to your mind when you hear High Networth Individual (HNI)? Most likely it will be a fleet or swanky cars, plush mansions, exotic foreign vacations, ivy league education, etc. Right? That's all true! When you have money living a
Read More>>

Negative Streak Ends As Sensex & Nifty Close In Green

Share Market News – 16 November 2017 The market opened on a positive note and continued to trade in the positive range. In the afternoon session, huge buying was seen as
Read More>>