Global Markets Witness Sell Off As Senate Includes Major Changes In The Tax Reform Bill

November 11, 2017 - 08:53:40 AM

Market Action – last Week (6-Nov-2017 - 10-Nov-2017)

US Senate included some major changes in the Tax Reform Bill ,from the House version, which may delay the implementation of a cut in the corporate tax rate.

Senate is ready to reduce the corporate tax rate to 20 percent from 35 percent, but the rate would be applicable from 2019. Few more issues like deductions and the estate tax have also raised concern on the outlook for tax reform.

House Republicans can pass their version as early as next week, although it remains to be seen if GOP lawmakers can overcome the differences in the two bills to get legislation to the President's desk.

Emerging market currencies have stated giving breakouts of their 2 month highs. Russian rubble, Turkish lira and South African Rand has become weak against dollar, which can be a major trigger for a market fall. Indian Rupee recently made low of 64.47 and yesterday closed at 65.30.

This week Nifty Index fell 1.25%, Cash market benchmark Smallcap Index was down by 1.59% and Bank Nifty fell by 0.59%. This week Nifty made a new record high of 10490, Smallcap made an all time high of 8782 and Bank Nifty made a high of 25696.

This Week Index Performance

This Week Index Performance

Results

Results Today

FII and DII activity in Cash Segment

FII and DII activity in Cash Segment

In last 10 days, FII and DII in combined have sold stocks worth Rs. 9855.06 Crore in cash segment.

Index Options

Index Options

In the Current Expiry, FII and PRO combined have sold 152148 contracts in Index Options.

Current Week Sector Performance

Current Week Sector Performance

Top performing stocks of this week

Top performing stocks of this week

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1. The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision
2. Past performance is not an indicator of future returns.

CIN: U67190WB2003PTC096617. Trading in Commodities is done through our Group Company Dynamic Commodities Pvt. Ltd. The company is also engaged in Proprietory Trading apart from Client Business.

Disclaimer: There is no guarantee of profits or no exceptions from losses. The investment advice provided are solely the personal views of the research team. You are advised to rely on your own judgment while making investment / Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. You should read and understand the Risk Disclosure Documents before trading/Investing.

Disclosure: We, Dynamic Equities Private Limited are also engaged in Proprietory Trading apart from Client Business. We also trade in NIFTY Options, Bank Nifty Options in our own account apart from, our Investment Advisory Division providing advisory services in NIFTY Options, Bank Nifty Options to clients as per the relevant Regulations. In case of any complaints/grievances, clients may write to us at compliance@dynamiclevels.com

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