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Markets end positive for 7th straight session, up over 1% for the week

All that happened in the markets today

SI Reporter  |  New Delhi 

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Benchmark indices ended positive for a seventh straight session on Friday led by IT firms, while bonds dipped on market talk of a potential sovereign ratings upgrade by Standard & Poor’s (S&P) later in the day.

Speculation about an S&P rating upgrade on India surfaced late on Thursday. This comes after a surprise upgrade by Moody’s last week.

Foreign investors have net bought $2.33 billion worth of Indian shares in November so far.

Globally, Asian shares hovered below their 10-year peak on Friday while mainland Chinese shares dropped to three-month lows after big falls the previous day on concerns about fresh government steps to curb financial risks and rise in Chinese bond yields.

Markets end positive for 7th straight session, up over 1% for the week

Market rundown by Vinod Nair, Head of Research, Geojit Financial Services    "Market traded in a positive bias on account of renewed buying in IT stocks and expectation of sovereign rating upgrade. Domestic fundamentals are better while a positive upgrade in rating will provide more conviction to investors on the government’s reforms agenda."

Markets end positive for 7th straight session, up over 1% for the week

Nifty PSU Banks fall Source: NSE

Markets end positive for 7th straight session, up over 1% for the week

Sectoral Trend Source: NSE

Markets end positive for 7th straight session, up over 1% for the week

Top Sensex gainers and losers Source: BSE

Markets end positive for 7th straight session, up over 1% for the week

Broader Markets In broader markets, the BSE Midcap and BSE Smallcap indices ended 0.6% and 0.5% higher

Markets end positive for 7th straight session, up over 1% for the week

Markets at close The S&P BSE index ended the day at 33,679, up 91 points while the broader Nifty50 index settled at 10,389, up 40 points

Markets end positive for 7th straight session, up over 1% for the week

BSE to auction investment limits for Rs 4,000-cr govt bonds   Leading stock exchange BSE on Friday said it will auction investment limits on Monday, enabling foreign investors to purchase government bonds nearly worth Rs 4,000 crore.   The auction will be conducted on BSE's 'ebidexchange' platform from 1530 hrs to 1730 hrs, after the close of market hours, the exchange said in a circular.   The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased.

Markets end positive for 7th straight session, up over 1% for the week

Theresa May steps up lobbying efforts to broaden Brexit talks with EU   British Prime Minister Theresa May is stepping up her lobbying efforts to broaden Brexit negotiations with the European Union to future relations and trade, as the talks bog down on preliminary issues.   May said today that she will hold meetings in Brussels, including with EU Council President Donald Tusk, about progress in the talks, which must be completed well before Britain leaves the bloc in March 2019.   She sidestepped questions about how much Britain would pay to settle its EU financial accounts, saying talks will look "ahead to the future deep and special partnership that I want with the European Union."

Markets end positive for 7th straight session, up over 1% for the week

HDFC Life to raise exposure to capital goods stocks on govt infra push   HDFC Standard Life Insurance Co is looking to invest more in the capital goods sectors and a range of companies that are expected to benefit from a major government push to build more homes and roads.   Funds are likely to be put into cement makers, suppliers of building materials such as tiles and paints, and financiers of the road and housing projects, Prasun Gajri, chief investment officer at HDFC Life told Reuters.   "I think the entire capital goods sector could start looking better than what it has been in the past," said Gajri, who oversees management of more than $15 billion of investments in debt and equity. "We could look to increase exposure in some of these areas as we go along." READ MORE

Markets end positive for 7th straight session, up over 1% for the week

Uber's $10-bn stock sale deal with SoftBank shrouded in data breach scandal   A newspaper advertisement for an Uber Technologies Inc stock sale was juxtaposed on Wednesday with a report that the ride-service provider had covered up a data hack - something of a metaphor for Uber, a company with boundless investor interest, but whose penchant for rule-breaking has led to a series of scandals.   The stock sale advertised in the New York Times will enable Uber investors to sell their shares to Japanese investor SoftBank, a critical deal for the company whose problems included building software to spy on competitors and to evade regulators and being investigated in Asia for paying bribes. READ MORE

Markets end positive for 7th straight session, up over 1% for the week

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 33,701.43 +113.35 +0.34   S&P BSE SENSEX 50 10,834.67 +46.26 +0.43   S&P BSE SENSEX Next 50 35,793.89 +131.89 +0.37   S&P BSE 100 10,855.65 +45.30 +0.42   S&P BSE Bharat 22 Index 3,752.03 +9.53 +0.25

First Published: Fri, November 24 2017. 15:31 IST
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Markets end positive for 7th straight session, up over 1% for the week

All that happened in the markets today

Benchmark indices ended positive for a seventh straight session on Friday led by IT firms, while bonds dipped on market talk of a potential sovereign ratings upgrade by Standard & Poor’s (S&P) later in the day.

Speculation about an S&P rating upgrade on India surfaced late on Thursday. This comes after a surprise upgrade by Moody’s last week.

Foreign investors have net bought $2.33 billion worth of Indian shares in November so far.

Globally, Asian shares hovered below their 10-year peak on Friday while mainland Chinese shares dropped to three-month lows after big falls the previous day on concerns about fresh government steps to curb financial risks and rise in Chinese bond yields.

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