What changed for the market while you were sleeping? Top 10 things to know

Exactly two years ago, Prime Minister Narendra Modi announced demonetisation of high denomination bank notes. The announcement, whose primary purpose was to curtail the shadow economy, received a mixed response, garnering support from several bankers and international commentators alike but also getting criticised as poorly planned and unfair. While you could be on either side of the fence on this one, data reveals that several stocks have done quite well since demonetisation. Here are the top ten stocks that have rallied since November 8, 2016:

Exactly two years ago, Prime Minister Narendra Modi announced demonetisation of high denomination bank notes. The announcement, whose primary purpose was to curtail the shadow economy, received a mixed response, garnering support from several bankers and international commentators alike but also getting criticised as poorly planned and unfair. While you could be on either side of the fence on this one, data reveals that several stocks have done quite well since demonetisation. Here are the top ten stocks that have rallied since November 8, 2016:

Benchmark indices closed the last session of the truncated week ended November 22 on a negative note. Indices declined for three consecutive days until Thursday ahead of the expiry of November futures and options contracts.

The Nifty 50 lost around 250 points from its recent swing high of 10,774 to move near 10,500. The index shed 73.20 points to close at 10,526.80 and the 30-share BSE Sensex ended below 35,000, down 218.78 points at 34,981.02 despite a sharp appreciation in the rupee and the fall in crude oil prices.

The rupee gained 219 paise against the US dollar in last seven consecutive sessions while crude oil prices plunged 27 percent since October 3, 2018, to trade around $63 a barrel.

All sectoral indices closed in the red on Thursday with Nifty Bank falling a percent and metal declining 1.77 percent. The broader indices also traded in line with frontliners with the Nifty Midcap index falling 0.91 percent.

[“source=forbes]

Closing Bell: Sensex ends over 300 points higher, Nifty above 10,750; consumption, metals gain big

Avoid FMCG, bet on banks, IT; top 10 stocks to buy for next 12 monthsIt’s a strong start to the week, with the Sensex ending over 300 points higher, while the Nifty surged past 10,750 on the back of intense buying.

Buying counters were buzzing among sectors such as automobiles, consumption, energy, infrastructure, IT, metals and pharmaceuticals as well. In the broader markets, the Nifty Midcap index rose around half a percent.

Financials saw a rally as news reports indicated that the central bank was open to tweaking/review of PSU banks’ prompt corrective action (PCA) plan.

At the close of market hours, the Sensex closed up 317.72 points or 0.90% at 35774.88, while the Nifty was higher 81.20 points or 0.76% at 10763.40. The market breadth was narrow as 1,330 shares advanced, against a decline of 1,278 shares, while 160 shares were unchanged.

Yes Bank and ITC were the top gainers, while ONGC, ICICI Bank, Indiabulls Housing and GAIL lost the most.

[“source=cnbc”]

Buy Bank of Baroda with 10% return: Mazhar Mohammad

Bank of Baroda appears to be consolidating in a zone of Rs 114 – 107 with a positive bias. As sentiment in PSU Banking space is firming up, one can expect a breakout in this counter as chart structure is looking very positive.

Hence, positional traders in anticipation of a breakout should buy now and add further on declines between Rs 110 – 107 and look for a target of Rs 126. A stop suggested for the trade is below Rs 106 on a closing basis.

[“source=forbes”]

US trade deficit increases more than expected in October and is now up 10% for 2018

A container ship at the Port of Oakland in Oakland, California.

Getty Images
A container ship at the Port of Oakland in Oakland, California.

The U.S. goods and services deficit increased more than expected in September amid escalating tensions with its global trading partners.

The shortfall rose to $54 billion for the month, a 1.3 percent increase, or $700 million, from August and reflective of a 10.1 percent increase year to date, according to government numbers released Friday. Economists surveyed by Refinitiv had been looking for a gain of $53.6 billion.

The goods deficit stood at $76.3 billion, the highest on record on a seasonally adjusted basis.

Exports increased to $212.6 billion, a $3.1 billion gain from August, while imports rose $3.8 billion to $266.6 billion.

Those numbers come as the Trump administration moved forward with a plan to tax $200 billion worth of Chinese imports and as China countered. In recent days, President Donald Trump has expressed hope that upcoming talks with Chinese President Xi Jinping can yield fruits on the impasse between the two nations.

Trump has expressed disdain for trade imbalances and has vowed to use tariffs as a way to reduce deficits and get agreements that are fairer to the U.S.

For all of 2018, the global trade deficit has increased $40.7 billion, a result of a $143.8 billion increase in imports and a $184.5 gain in imports.

On a three-month average, the goods and services shortfall rose 5.6 percent from the same period a year ago.

In China’s case, the goods and services deficit increased to $40.2 billion, the highest on record on a non-seasonally adjusted basis Year to date, the U.S. is running a $301.4 billion deficit with China. The closely watched soybean trade was reflective of the trade tensions, with the decline in September exports at $744 million from the previous month.

The goods and services deficit with Russia rose to $1.7 billion, the highest since May 2013.

The goods deficit with Mexico showed a sharp decline, falling $1.1 billion to $7.6 billion, a 12.6 percent slide. The move came almost entirely due to exports, which rose $1.1 billion to $22.5 billion. Imports were little changed, falling less than $100 million to $30.1 billion.

[“source=cnbc”]