Daily Newsletter
NSE Intra-day chart (17 August 2017)
Top Gainers
Company NameClose% Change
Top Losers
Company NameClose% Change
World Indices
IndicesLast Trade% Change
IndicesLast Trade% Change
FII Activity(Rs. Cr)
DateMarketGross PurchaseGross SalesNet Change
Market Commentary 18 August 2017
Markets to make a soft start on somber global cues

Indian equity benchmarks managed to keep their head above water in a choppy day of trade and settled with modest gains. Markets swung in both directions as investors remained cautious with private report stating that retail and wholesale inflation accelerated in July and the uptrend is likely to continue in the coming months, limiting the space for further monetary easing. Though markets traded mostly in green during the session, as traders took some encouragement with the government raising estimate on food grain output for the crop year ended June on an increase in the estimated yields of paddy and wheat. The government has revised upward the country's overall food grain production by 2.3 million tonnes (MT) to a record 275.68 MT in 2016-17 crop year that ended in June. Adding to the optimism, American think-tank Council on Foreign Relations' Senior Fellow for India Alyssa Ayers said that the country has emerged as a strong world power but still has ‘a long way to go'. Reports that Mutual funds managers pumped more than Rs 30,000 crore in the stock markets during April-July of the current financial year because of strong participation from retail investors, too contributed to the gains. However, markets pared most of their gains in dying hour of trade with report that the overwhelming presence of public sector is holding back the Indian economy. Investors also took cues from minutes from the last meeting of Monetary Policy Committee (MPC) whose members said easing inflation had supported the need for a rate cut at its August meeting, but warned consumer prices could start accelerating. Finally, the BSE Sensex gained 24.57 points or 0.08% to 31,795.46, while the CNX Nifty was up by 6.85 points or 0.07% to 9,904.15.


The US markets fell sharply on Thursday, as heightened concerns about President Donald Trump's legislative agenda and news of a terrorist attack in Barcelona combined to foster selling on Wall Street.  In what's being investigated as a terrorist attack, a van plowed into a crowd in the Ramblas tourist area Thursday in Barcelona, Spain, killing at least 13 and injuring scores with unconfirmed reports that hostages were being held at a nearby restaurant by gunmen. The last time all three major benchmarks finished down 1% or more was May 17. Technology shares suffered the worst of the beating following disappointing results from Cisco Systems. On the economy front, the number of Americans who sought unemployment benefits in mid-August fell to the lowest level in six months, mirroring the strongest US labor market in almost two decades. Initial jobless claims in the period running from August 6 to August 12 declined by 12,000 and stood at 232,000. That is the lowest level since February and the second lowest since the current economic expansion began in 2009. The Dow Jones Industrial Average dropped 274.14 points or 1.24 percent to 21,750.73, the Nasdaq lost 123.2 points or 1.94 percent to 6,221.91, while the S&P 500 edged lower by 38.1 points or 1.54 percent to 2,430.01.  


Crude oil futures snapped their three days losing streak on Thursday, as traders bet recent losses were overdone considering the significant drop in US inventories. Traders mulled over data showing U.S. crude supplies fell the most in eleven-months while U.S. production rose to a more than two-year high. Traders appeared to take advantage of lower crude prices, following a slump on Wednesday, after a report from the Energy Information Administration showed U.S. production hit two-year highs. The uptick in U.S. production, however, adds to concerns that the global glut in crude supplies will continue during the second half of the year. Benchmark crude oil futures for September delivery ended up by $0.31 or 0.6 percent to $47.09 on the New York Mercantile Exchange. In London, Brent crude for September delivery ended higher by $0.64 at $50.91 a barrel on the ICE.


Indian Money market remained closed on Thursday on account of Parsi New Year's day.


The FIIs as per Wednesday's data were net sellers in equity and debt segments both. In equity segment, the gross buying was of Rs 3288.81 crore against gross selling of Rs 4812.62 crore, while in the debt segment, the gross purchase was of Rs 292.38 crore with gross sales of Rs 489.78 crore.


The US markets suffered sharp sell-off in the last session with all the major averages deposing well over a percent each on concerns about ongoing political turmoil in Washington, D.C. Traders also reacted negatively to the latest batch of earnings news and largely overlooked a report showing a bigger than expected drop in initial jobless claims in the week ended August 12th. The Asian markets mirroring the US markets have made an all red start with some indices declining by over a percent in early deals amid concern over a terrorist attack in Spain. The Indian markets after a choppy session managed a flat but positive closing in the last session. Today the start is likely to be weak on feeble global cues and lacking any positive trigger on the domestic front.  Markets however, may get some support with a report by real estate consulting firm CBRE South Asia that India has surpassed China in the global Retail Development Index in 2017, indicating growing prominence of the country as a preferred retail destination for global brands. Also, it has been reported that  on improved efficiency in granting construction permits, starting a business and resolving insolvency is expected to improve India's overall ranking in the World Bank's ‘ease of doing business' survey 2018. Meanwhile, the government gave some relief to taxpayers availing of transitional input tax credit under the GST (Goods and Services Tax) regime by giving them an extra week till 28 August 28 to file tax returns. The pharma stocks will continue buzzing on reports that the government has proposed to revamp the country's drug pricing regulator National Pharmaceutical Pricing Authority (NPPA), allowing it to set prices of only essential medicines. The Draft Pharmaceutical Policy, 2017, which focuses heavily on prices of medicine, has proposed massive dilutions in the existing framework, which would give more control to the government over the operations of the NPPA.


Support and Resistance: NSE (Nifty) and BSE (Sensex)



Previous close



NSE Nifty




BSE Sensex





Nifty Top volumes




(in Lacs)

Previous close (Rs)

Support  (Rs)

Resistance (Rs)

Coal India





Bank of Baroda




















  • Tata Power has become the first power utility to introduce QR code service for bill payments in Mumbai
  • ITC has decided to further increase its investment in the integrated food park at Kapurthala in Punjab to Rs 1,700 crore.
  • BPCL has inked a MoU with Energy Efficiency Services, under the Ministry of Power, for distribution of energy efficient appliances under the flagship UJALA scheme.
  • Maruti Suzuki has launched a sporty version of its mid-sized sedan Ciaz with petrol variant tagged at Rs 9.39 lakh.
News Analysis