Ripples Advisory Pvt. Ltd. Daily Equity Report 17th Mar 2017

The Sensex surged 187.74 points to close at 29,585.85 and the
Nifty climbed 68.90 points to hit a new closing peak of 9,153.70
As the Federal Reserve, as expected, raised the benchmark
Interest rate by a quarter percentage point, but gave a more
The dovish outlook for future hikes.

The Fed lifted its fund’s rate by 25 basis points, as expected, to a range of 0.75 percent to 1.00 Percent, but said further inĐreases would only ďe “gradual”.

The gains, which tracked Asian markets, came after the Fed
Stuck to its outlook for two additional rate increases this year
After lifting its overnight interest rate by 25 basis points on
Wednesday as had been expected.

The tempered rate outlook knocked the dollar and eased the worries of a fresh burst of capital Outflows from emerging economies such as India. Some market The watchers had recently speculated the Fed could hike rates for Times this year as the US economy gathers momentum.

Among BSE sectoral indices, metal index was the star performer
And was up 2.84 percent, followed by power 1.8 percent, consumer durables 1.68 per cent and infrastructure 1.62
Percent.

Modi’s big win Sentiment had already been turning more bullish after a big Election victory of Prime Minister Narendra Modi’s ruling party In the key state of Uttar Pradesh at the weekend.

Hopes for sustained foreign flows into India have also sparked
A rally in the rupee, which hit as much as 65.2250 per dollar, it
Strongest since October 30, 2015.

Traders were split about whether the central bank had again
Intervened on Thursday to slow the gains, after stepping into the previous sessions.

MARKET MEASURE
EXCHANGE ADVANCE DECLINE UNCHG. T/O
NSE 1153 490 98 24578.69

CHART ANALYSIS
SCRIP R2 R1 PIVOT S1 S2
NIFTY 50 21404 21364 21307 21267 21210

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