Market volumes fell 11pc to 149 million shares on Wednesday, from 167 million shares traded the earlier day. Trading value stood slightly higher at Rs6.443bn, from Rs6.365bn. Market capitalisation saw addition of Rs33bn to Rs5.288 trillion.In all, 331 stocks came up for trading on Wednesday with the gulf between the gainers and losers narrowing down to 155 and 149. Another 27 stocks ended unchanged.
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The not-so-crazy case for commodities stocks
* Brazil’s benchmark Bovespa stock index snapped a three-day winning streak to drop 1.81 internet percent – the biggest one-day percentage fall this month. On Tuesday, stocks had closed right above a key resistance level. * A policy adviser to the People’s Bank of China told Reuters on Tuesday that the authority may tighten cash conditions in the financial system to address inflation risks, which could also sap economic growth in a key market for Latin American iron ore, soybeans, oil and copper. * Lender Banco Bradesco SA fell 2.03 percent after JPMorgan Securities analysts lowered their recommendation on the shares to “neutral” from “overweight,” saying a recent rally in the stock has made it less attractive. * Brazil must take more decisive action to raise productivity and boost private investment if it is to restore robust growth to its once-booming economy, the International Monetary Fund said on Wednesday in its annual economic assessment of Brazil. * Mexico’s IPC index fell 0.64 percent as shares of telecommunications firm America Movil, controlled by billionaire Carlos Slim, slipped 1.01 percent.
Id like to stick my neck out and propose a crazy idea: Invest in commodities. Yes, there are a host of logical reasons to run screaming from commodity stocks the deep declines in these players over the last year, the soft outlook for materials prices and the general sense that a multi-decade run in commodities has fallen apart thanks to stagnant emerging markets. Need to Know: Crucial gut checks before the U.S. markets open /conga/story/misc/ntk_sixwide.html 242157 But commodity stocks have been slashing costs, finding efficiencies and plotting a way forward through the last few years of persistent challenges and eventually, they will reach a point where there are right-sized for the lean times and poised for big growth once things turn around. And it can pay off big if you buy ahead of that turn.
Chinese stocks fell as the benchmark money-market rate jumped the most since June. Norways krone advanced against all of its 16 major peers, while Israels shekel weakened for a second day versus the dollar. Treasuries gained while Italian bonds declined. Gold jumped 0.8 percent to $1,344.03 an ounce. A preliminary gauge of Chinese manufacturing strengthened to 50.9, compared with a projected 50.4 reading, according to data from HSBC Holdings Plc and Markit Economics and a Bloomberg survey. Euro-area services and factory output grew at a slower pace than forecast this month and more Americans than forecast filed jobless claims last week, separate reports showed.
“We are nowhere near a market top because this rally has real internal strength in it,” says Ken Winans of Winans Investments. “This bull run has room to run.” ASK MATT: Is S&P 500 good place to start investing? A closer look at the companies at or approaching highs show that: Well-known consumer brands are big winners. Disney, Chipotle Mexican Grill and Starbucks are among the stocks that have blown the furthest into record ground. All three set new all-time highs Tuesday.