Daily Newsletter
NSE Intra-day chart (27 October 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 30 October 2017
Markets to make a cautious start of the data heavy week

Profit booking which took place in last leg of trade played spoil sport for the Indian equity benchmarks and pulled them to end flat on Friday. Key gauges made a positive start and traded mostly in green but in tight band throughout the session, as traders taking encouragement with credit rating agency Fitch's report that the recent recapitalisation plan announced by the government for public sector banks will provide substantial funds to the lenders to address the capital shortages that has a major negative impact on their ratings. Meanwhile, markets regulator SEBI revising the framework for 'block deals' by providing two separate trading windows of 15 minutes each and increasing the minimum order size to Rs 10 crore. The move is aimed at ensuring confidentiality of the large trades and stable prices for such transactions. Adding to the optimism, Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek expressed hope that India's ranking is likely to improve significantly in the World Bank's ease of doing business report, as they have worked very hard. The government's optimism regarding the improvement in India's rank comes on the back of reforms taken to improve the efficiency in granting construction permits, starting a business and resolving insolvency. Sentiments also got some support with Niti Aayog CEO Amitabh Kant's statement who pitched for channeling insurance and pension funds for financing infrastructure projects as also for a complete re- examination of the Viability Gap Funding (VGF) scheme. However, markets witnessed sharp selloff in final hour of trade, with traders opting to book all of their initial profit to pull benchmarks lower and end mixed with negative bias. Finally, the BSE Sensex rose 10.09 points or 0.03% to 33,157.22, while the CNX Nifty was down by 20.75 points or 0.20% to 10323.05.

The US markets closed higher on Friday, with the S&P 500 and Nasdaq Composite closing at records, fueled by large gains in technology shares following better-than-expected quarterly results from heavyweights. The dollar was rising across the board after the House of Representatives passed a budget resolution, which was viewed as an encouraging sign for tax cuts. According to the analysis, released by Trump's Council of Economic Advisers cutting the corporate tax rate to 20% would speed up economic growth enough to eventually make the US economy 3 to 5% larger than it otherwise would be. The New York Federal Reserve upgraded its estimate of US gross domestic product growth for the fourth quarter, based on upbeat data on durable goods orders and new home sales in September and stronger-than-forecast GDP growth in the third quarter. The regional central bank's 'Nowcast' model calculated the economy was expanding at an annualized pace of 3.05% in the fourth quarter, faster than the 2.61% rate calculated last week. The Dow Jones Industrial Average added 33.33 points or 0.14 percent to 23,434.19, the Nasdaq gained 144.49 points or 2.20 percent to 6,701.26, and the S&P 500 edged higher by 20.67 points or 0.81 percent to 2,581.07.

Crude oil futures surged on Friday to its highest since February, with global benchmark Brent crude rising above $60 per barrel, on support among the world's top producers for extending a deal to rein in output and as the dollar retreated from three-month peaks. Saudi Arabia and Russia declared their support for extending an OPEC-led deal to cut supplies for another nine months. Traders even over looked report from oil services firm Baker Hughes, which said that the number of rigs drilling for oil in the US rose this week by one to 737. Benchmark crude oil futures for December delivery ended higher by $1.26 or 2.4 percent at $53.90 a barrel on the New York Mercantile Exchange. However, Brent crude for December delivery gained $1.14 or 1.9 percent to $60.44 a barrel on the ICE.

Snapping 2-day winning streak Indian rupee ended considerably weaker on Friday against the American currency, on increased month-end demand for the US currency from importers. The dollar's gains against some other currencies overseas coupled with lackluster trade in the equity markets also weighed negatively on the domestic unit. On the global front, the euro slipped for a second day on Friday on track for its biggest weekly loss of the year on the back of falling bond yields after the European Central Bank extended its bond buying well into next year. Finally, the rupee ended at 65.05, 23 paise weaker from its previous close of 64.82 on Thursday.

The FIIs as per Friday's data were net buyers in equity and debt segments both. In equity segment, the gross buying was of Rs 11584.53 crore against gross selling of Rs 10204.39 crore, while in the debt segment, the gross purchase was of Rs 1975.59 crore with gross sales of Rs 1316.58 crore.

The US markets moved higher in the last session and the tech-heavy Nasdaq and the S&P 500 climbed to new record closing highs. The gains were in reaction to upbeat earnings news from several well known companies and a report from the Commerce Department showing stronger than expected economic growth in the third quarter. The Asian markets have made mostly a higher start following Wall Street close at fresh record highs on Friday. Though, the Chinese market was cautious despite its industrial profit growth accelerating further in September. The Indian markets after a lackluster trade and paring all the early gains made a flat closing in the last session, as mixed earnings results prompted traders to book some profits at higher levels. Today, the start of the new data heavy week is likely to be flat-to-cautious and traders will be reacting to the meeting outcome of the ministerial panel working to make GST composition scheme more attractive, which suggested slashing tax rate to 1 per cent for manufacturers and restaurants, while easier norms for traders opting for it. Traders will also be eyeing the urgent meeting of the ministry of corporate affairs to discuss if there are 'grey areas' in the Companies Act that needs to be addressed, after several directors went to courts against their debarment by the government. The ministry in September cancelled registration of over 200,000 defaulting companies and, by extension, it had also debarred over 300,000 directors of companies. There will be some buzz in the auto sector stocks too as the Union road transport ministry has approved the timeline for the implementation of system which requires all cars manufactured after July 1, 2019, to be equipped with airbags, seat-belt reminders, alert systems for speeds beyond 80kmph, reverse parking alerts, as well as manual override over the central locking system for emergencies. 

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)

Yes Bank

























  • Cipla's subsidiary, InvaGen Pharmaceuticals Inc., has received final approval for its ANDA for Sevelamer Carbonate Tablets, 800 mg, from the USFDA.
  • BPCL is planning to raise $500 million from the market to fund expansion of Bina, Kochi, Mumbai and Numaligarh refineries.
  • Bharti Airtel has launched Voice over Long Term Evolution services across Gujarat.
  • ITC has reported a marginal rise of 5.59% rise in its net profit at Rs 2639.84 crore for Q2FY18 as compared to Rs 2500.03 crore for Q2FY17.

News Analysis