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LORD JESUS CHRIST SAYS

Matthew 7:7,8 Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you: For every one that asketh receiveth; and he that seeketh findeth; and to him that knocketh it shall be opened.

5 Feb 2016

STOCK MARKET- SENSEX RISES 278 POINTS BUT ON TRADE TO END THE WEEK LOWER.


Mumbai: India's stock markets rose nearly 1 percent on Friday as state-owned lenders such as State Bank of India recovered from recent sharp losses, but indexes were still headed for a fourth weekly loss in five highlighting fragility in sentiment.

The Nifty was down 1.3 pe rcent for the week after a fall in crude prices hit sentiment and after the Reserve Bank of India (RBI) kept interest rates unchanged on Tuesday.

But traders said they looked forward to a week-long holiday in China next week, given that it removes a potential source of selling pressure. Worries about the world's second largest economy have hit global markets this year.

"We were deeply oversold," said Hemen Kapadia, senior vice president, K R Choksey Securities.

"China on holiday next week aids sentiment."

The NSE Nifty was up 0.7 per cent.

The benchmark BSE Sensex was higher 0.7 per cent, but was headed for a 1.4 per cent weekly fall.

Public sector banks were among the leading gainers after recent falls. SBI rose 2.1 per cent after falling 12.1 per cent over the last five trading sessions.

PNB has risen more than 5 per cent in the past three trading sessions after falling more than 22 per cent this year.

Tata Power gained as much as 2.46 percent on optimism about its earnings due out later in the day. StarMine Smart Estimates suggest net income may beat consensus.

Metal stocks such as Tata Steel and Jindal Steel gained on reports that the government was likely to set minimum import price on steel imports.
 
The Nifty was down 1.3 pe rcent for the week after a fall in crude prices hit sentiment and after the Reserve Bank of India (RBI) kept interest rates unchanged on Tuesday.
But traders said they looked forward to a week-long holiday in China next week, given that it removes a potential source of selling pressure. Worries about the world's second largest economy have hit global markets this year.
"We were deeply oversold," said Hemen Kapadia, senior vice president, K R Choksey Securities.
"China on holiday next week aids sentiment."
The NSE Nifty was up 0.7 per cent.
The benchmark BSE Sensex was higher 0.7 per cent, but was headed for a 1.4 per cent weekly fall.
Public sector banks were among the leading gainers after recent falls. SBI rose 2.1 per cent after falling 12.1 per cent over the last five trading sessions.
PNB has risen more than 5 per cent in the past three trading sessions after falling more than 22 per cent this year.
Tata Power gained as much as 2.46 percent on optimism about its earnings due out later in the day. StarMine Smart Estimates suggest net income may beat consensus.
Metal stocks such as Tata Steel and Jindal Steel gained on reports that the government was likely to set minimum import price on steel imports.  © Thomson Reuters 2016  

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