Nifty Goes Green! Back To 10,000; Set To Go Higher

Oct 12, 2017 | 01:32 PM IST

Nifty Goes Green

Market This Week

The market recovered from the bottom and it has succeeded to climb 1,000 points this week as huge buying was seen in almost all the sector especially in Jewellery and Oil & gas sectors stocks. As the condition in North Korea and the USA is normalising through diplomatic ways, investors have heaved a sigh of relief. FII were the net buyers this week despite IMF slashing the growth rate. Indian market is still in the bullish mode and growth will pick-up in the coming quarters. GST's 22nd meeting had provided a concession in GST rates in the various sectors to boost the demand as festival season is coming. Crude oil has been gaining from last one month and continues its trend.

Movers & Shakers

Adani transmission Ltd has rallied 20% this week post Reliance Infrastructure to buy the Mumbai city power business. Religare enterprises rallied 18% this week as the price was at the strong support level. Sterlite Technologies gained 20% this week post it bagged an order from UAE-based telecom service provider to provide Internet to the home network infrastructure through its technologies. Karur Vysya Bank down almost 10% this week as the price is at a resistance level and it is going to give rights to equity shares and 13th Oct is the record date. ICICI Bank and Tata Motors were down because of some of the profit booking that was seen in this stock.

Key Market Drivers

1) IMF said that the sovereign debt of India is projected to reduce over the next few years with projections for 2017, 2018, 2019 and 2020 being at 67.8%, 66%, 64% and 62% respectively despite the slowdown in the GDP rate due to demonetization and GST roll-out. And if it goes below 60% of GDP then India's ratings will also increase in coming days by rating agencies. 2) RBI governor assured that the growth will pick-up to 7% in coming quarters as The Nikkei India Services PMI Business Activity Index rose more than 3% in September over August and the core sector IIP (Index of Industrial Production) saw a 4.9% rise in August 3) The jewellery and textile stocks were in focus because GST council has made the policy easy for the jewelry business while relief for synthetic yarn makers in export-related tax refunds and an inverted tax structure has brought ease in the textile business.

Event Watch

WPI numbers are going to come this weekend, it is very important to watch this event as RBI has predicted that the inflation may rise in coming months. The situation in the Korean peninsula is also important as it is a market driver for next couple of weeks.

Stocks to Watch

Chaman Lal Setia Export Ltd. Count Industries is on the upside while Bombay Dyeing & manufacturing company ltd is on the downside.



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...



Sensex At 35000 & Nifty At 10800; Banks Rally

Share Market News – 17-January-2018 The market on Wednesday opened on a positive note as Sensex was up by over 60 points to trade above 34,800 levels while Nifty was up by 15 points to trade above 10,700 but soon it turned
Read More>>

Nifty Above 10,700 For First Time; Sensex Misses The 35K Milestone

Share Market News – 15-January-2018 The market on Monday began on a positive note as Sensex was up by 180 points to trade above 34,700 levels while Nifty was up by 50 points to trade above 10,700 for the first time. The
Read More>>

Bulls Take Charge As Sensex & Nifty Scale New High

Market This Week The New Year cheer extended for the second consecutive week as the benchmark indices once again continued to hit new record highs throughout the week backed
Read More>>

Free Research Report - Himatsingka Seide Ltd

The Himatsingka Group focuses on the manufacturing,
Read More>>

Why Settle For Less? The Best Tax Saving Investment

The tax season starts with the new year and all the salaried and business people scurry around to find the hacks to save maximum tax. The problem with people's perception is that they tend to think of Income Tax Act as an incomprehensible text
Read More>>