X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on 26th June, 2017 on account of Ramzan EID.

Sensex Trades Flat; ICICI Bank Leads the Gainers
Mon, 17 Oct 11:30 am

After opening the day flat, the Indian share markets have continued to trade near the dotted line. Sectoral indices are trading mixed with stocks from the banking sector and consumer durables sector witnessing maximum buying interest. Telecom stocks are trading in the red.

The BSE Sensex is trading down 33 points (down 0.1%), while the NSE Nifty is trading down 8 points (down 0.1%). The BSE Mid Cap index is trading down by 0.3%, while the BSE Small Cap index is trading up by 0.3%. The rupee is trading at 66.78 to the US$.

As per a leading financial daily, Indian exports grew by 4.62% YoY in September to US$ 22.9 billion. The rise was seen on the back of healthy growth in sectors such as engineering and gems and jewellery.

The export sectors, which recorded positive growth include engineering, gems and jewellery, handicrafts, textiles, and chemicals registered growth of 6.51%, 22.42%, 23%, 12.62%, and 6%, respectively.

On the other hand, Indian imports contracted by 2.54% YoY to US$ 31.22 billion during the last month.

The above mismatch left a trade deficit of US$ 8.33 billion in September 2016. The trade gap, however, was lower than US$ 10.16 billion recorded in September 2015.

A pick up in Indian exports in the coming months would accelerate the momentum provided by the good monsoons. That said, steps should be taken by the government to correct the above trade imbalance.

In the news from global financial markets, Bank of Japan (BoJ) Governor Haruhiko Kuroda stated that he would adjust policy to maintain inflation momentum. Kuroda said the central bank would adjust monetary policy as needed to achieve its 2% inflation target with an eye on economic, price, and financial developments.

Speaking at the central bank's quarterly meeting of its regional branch managers, Kuroda said Japan's economy is expected to expand moderately as a trend.

Last week, BoJ signaled they have a higher threshold for further easing. The policymakers said they would stick to their pledge to expand stimulus but only to protect the economy from external shocks.

The BoJ still has a long way to go to reach its 2% inflation target. Last month, it issued a plethora of fresh changes to its policy approach. To control the yield curve, it said that it would introduce a new policy tool called quantitative and qualitative monetary easing (QQE). The BoJ further announced it would expand the monetary base until inflation stabilises above 2%.

The BoJ, however, stood pat on the negative interest rates they introduced earlier this year. The move was introduced to encourage banks to lend more and thereby spur spending and inflation. However, there has been no sign of this working yet.

The concern is that global financial markets are behaving obsequiously to the above cues from central banks. They are highly dependent on central bank behaviour. Bill Bonner recently wrote about how the Fed and the BoJ are keeping investors on the edge of their seats.

If you want to know what's really happening in the world of man and money, you can claim your free copy of Bill Bonner's latest book, Hormegeddon (just pay Rs 199 for shipping and handling).

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Sensex Trades Flat; ICICI Bank Leads the Gainers". Click here!

  

S&P BSE SENSEX


Jun 23, 2017 (Close)

MARKET STATS