MARKET UPDATE FOR AUGUST 3, 2017
INDICATORS CLIMB HIGHER AS ALL EYES ON INTERIM DIVIDEND PAYING STOCKS NSEASI WEEKLY TIME FRAME MOVEMENT The equity market on Thursday had another mixed session, as it extended its gaining momentum to consolidate a three-day rally on high transaction volume. The session started out with the indicators moving slightly downward and thereafter the index had a strong surge back by afternoon to cross another 1000 point threshold to 37,135.23 basis points. The gain came on the back the rebound in some equity prices to their three-year new highs on the strength of improvements in their recently released Q2 numbers that surpassed market and analysts’ estimates. Interim dividend expectations in banking stocks that are yet to release their half year scorecards have kept transactions in these stocks high, with investors and traders positioning ahead of announcement of their numbers. The statement interest is fuel...