During a winning week, the combined market cap of top 10 Sensex companies rose by over Rs.28K with ONGC leading the biggest gainers with a rise of Rs. 9K crore. RIL’s valuation rose by Rs. 2,866.7 crore to Rs. 3,24,212.65 crore and the stock could be in action today on Dhirubhai Ambani’s birth anniversary.
The outlook is a flat start. It’s more of a holiday week for big investors and as a result action could get restricted more to the side counters. The trend may continue to be positive in India if the rally in the overseas markets sustains. Thursday’s F&O expiry might add to the volatility with VIX trading near to its lowest band below 14. Market wide rollovers are yet to pick up, on the options front; Nifty 7800 puts has seen continuous build up and simultaneously strong build up is seen in 7900 and 8000 calls, which indicates Nifty to remain in tight band of 7800-7900 in the near term. After a tumultuous year, most players might want to take it a bit easy in the last trading week of 2015.”
During a winning week, the combined market cap of top 10 Sensex companies rose by over Rs.28K with ONGC leading the biggest gainers with a rise of Rs. 9K crore. RIL’s valuation rose by Rs. 2,866.7 crore to Rs. 3,24,212.65 crore and the stock could be in action today on Dhirubhai Ambani’s birth anniversary.
Communications and IT Minister Ravi Shankar Prasad is set to launch various schemes to digitally connect rural post offices.
The finance ministry and the Reserve Bank of India are planning to restrict amount of working capital funds and term loans that companies can borrow from banks, according to reports.
Report says that the ministry and the regulator plan to encourage companies to meet portion of their funding requirements by raising funds in the corporate debt market and through commercial papers.
The country’s forex reserves were lower by $1.4 mn to $351.106 bn in the week to December 18, according to RBI data.
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