Friday 17 March 2017

Stock Market Update by Ripples Financial Advisory – 17th March 2017

Indian Benchmark Index Nifty hit a record high of 9158 on Thursday 16th March. Nifty opened at 9130, 45 points high from its previous day’s close of 9085 and closed at 9154. Indian shares rose notably on Thursday after the U.S. Federal Reserve raised its benchmark interest rate as expected, but signaled a more gradual pace of monetary tightening this year.

Bank Nifty made a lifetime high of 21290 on 16th March. Among the banking stocks, Indusind Bank, PNB, Federal Bank and Canara Bank were up by more than 2%. Bank Nifty closed 21250, 92 points high from its previous day’s close of 21158.

Small Cap Index also remained strong on 16th March and made an all time high of 6810. The Index closed at 6801, 74 points high from its previous day’s close of 6727.

Nifty Future is opening at 9193 as per SGX Nifty at 8:00 am IST, 16 point above its previous close of 9177.75.

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