Indian Market Weekly Report - 06.112017 - 10.11.2017
Domestic benchmark indices are likely to rise next week with bank stocks that seen leading the gains. We are bullish on the banking sector and expect the Nifty Bank index to test the 26000 levels next week. Also state owned banks are likely to extend gains, with shares of State Bank of India seen rising further ahead of its September quarter earnings on Nov 10. Yesterday key indices closed at record highs, with SBI leading the gains on the Nifty 50, rising 3.4% to close at 325 rupees.
The Nifty 50 ended at a record 10452.50 points, up 0.3% after hitting a lifetime high of 10461.70, while the S&P BSE Sensex ending at a record 33685.56 points, up 0.3% but off its lifetime high touched yesterday at 33733.71 points.
The Nifty Bank index ended at a record of 25650.70 points, up 0.9% after hitting a lifetime high of
25695.50 rupees. The Nifty PSU Bank index ended at 3975.40, up 2.9%, but is still below the
4335.20 points which was touched on Oct 26 after the government announced its recapitalisation
plan.
Coming week stocks of Aurobindo Pharma, Bharat Petroleum Corp, Bosch, Cipla, Coal India,
Hindustan Petroleum Corp, Larsen & Toubro, Mahindra & Mahindra, and Tata Motors will be in focus as they announce their September quarter earnings.
Source : Cogencis Information Services Ltd.
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Indian Market Weekly Report - 06.112017 - 10.11.2017
Domestic benchmark indices are likely to rise next week with bank stocks that seen leading the gains. We are bullish on the banking sector and expect the Nifty Bank index to test the 26000 levels next week. Also state owned banks are likely to extend gains, with shares of State Bank of India seen rising further ahead of its September quarter earnings on Nov 10. Yesterday key indices closed at record highs, with SBI leading the gains on the Nifty 50, rising 3.4% to close at 325 rupees.
The Nifty 50 ended at a record 10452.50 points, up 0.3% after hitting a lifetime high of 10461.70, while the S&P BSE Sensex ending at a record 33685.56 points, up 0.3% but off its lifetime high touched yesterday at 33733.71 points.
The Nifty Bank index ended at a record of 25650.70 points, up 0.9% after hitting a lifetime high of
25695.50 rupees. The Nifty PSU Bank index ended at 3975.40, up 2.9%, but is still below the
4335.20 points which was touched on Oct 26 after the government announced its recapitalisation
plan.
Coming week stocks of Aurobindo Pharma, Bharat Petroleum Corp, Bosch, Cipla, Coal India,
Hindustan Petroleum Corp, Larsen & Toubro, Mahindra & Mahindra, and Tata Motors will be in focus as they announce their September quarter earnings.
Source : Cogencis Information Services Ltd.
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