Sensex, Nifty sluggish; SBI down 2%, auto stocks rise

bear-marketThe market is sluggish with the Nifty hovering around 7950. The 50-share index is up 28.25 points or 0.4 percent at 7957.35 and the Sensex is up 56.65 points or 0.2 percent at 25821.79. About 1048 shares have advanced, 1346 shares declined, and 169 shares are unchanged.

Auto stocks are rising with Bajaj Auto, Hero MotoCorp and Maruti leading the pack. HUL and Adani Ports are other gainers in the Sensex. Among losers are BHEL, SBI, L&T, GAIL and NTPC.

The rupee slipped from its initial recovery, dropping 7 paise to Rs 68.23 in late morning deals following bouts of dollar demand from importers despite higher domestic equities.

Overseas, the US dollar took a breather against basket currencies in early Asian trade, as investors consolidated the gains built on expectations of increased fiscal spending and higher inflation under a Trump administration.

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Live Stock Market Updates – Sensex up 100 ponts; Nifty hovers around 7,950 mark

nifty-updates-capitalheightAt 9:41 AM, after crossing the psychological 26,000 market, the S&P BSE Sensex is trading at 25,924 up 160 points, while NSE Nifty is trading at 8,007.10 up 78 points.

Out of 1,854 stocks traded on the NSE, 307 declined, 1152 advanced and 395 remained unchanged in the opening hour.

The BSE Mid-cap Index is trading up 1.13% at 11867, whereas BSE Small-cap Index is trading up 1.22% at 11633.

Hindalco, Tata Motors, Maruti, Adani Ports, and Bank of Baroda are among the gainers, whereas NTPC, Bharti Airtel, Bosch, Dr Reddy and Sun Pharma are losing sheen on Nifty 50.

Some buying activity is seen in Auto, Metal, Bank, Consumer Durables and Information Technology sectors, while Telecom, Power and Realty showing weakness on BSE.

The INDIA VIX is down 1.80% at 18.7525.

A total of 4 stocks registered a fresh 52-week high in trade today, while 23 stocks touched a new 52-week low on the NSE.

The Indian rupee opened marginally higher by three paise at 68.13/$ against the previous close of 68.16/$.

Asian markets excluding Japan all traded in the green as an earthquake in Japan & threats of a Tsunami break out kept the Japanese index flat to marginally negative. This after oil hit a new 4 week high along with the Dow Jones, Nasdaq & the S&P index rising in tandem. The risk on trade is back in action as globally bullishness resurfaces with Japan & the US indices in new bull markets.

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Live Stock Market Updates – Nifty trades below 7,950 mark

bear-marketThe Sensex slipped below the 26,000 level by falling over 300 points in mid-session trade Monday, pulled down mainly by financial stocks.

The Sensex pared gains after rallying as much as 120 points in morning trade on Monday, led by losses for HDFC, Infosys, TCS and Maruti Suzuki. The domestic market fluctuated between gains and losses as energy producers advanced, while automakers and lenders declined.

The Nifty50 reclaimed the 8,100 mark but immediately turned volatile ahead of expiry of November futures & options contracts due on Thursday.

At 12:46 PM, the S&P BSE Sensex is trading at 25,836, down 314 points, while NSE Nifty is trading at 7,960, down 114 points. It is the first time Nifty dropped below 8,000 since June 2016.

The BSE Mid-cap Index is trading down 2.23% at 11,803, whereas BSE Small-cap Index is trading down 2.69% at 11,550.

Holding ground in the gloomy market were WIPRO, INFY, ONGC while POWERGRID, SBI, HDFC bore the brunt through the first hour of trading.

Only IT index is trading in green, while realty, banking, auto, metal, financial and FMCG were in red.

The INDIA VIX is up 6.13% at 18.8975. Out of 1,885 stocks traded on the NSE, 1,384 declined, 226 advanced and 275 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trade today, while 53 stocks touched a new 52-week low on the NSE.

Rashtriya Chemicals & Fertilizers Ltd fell 3% after the company reported a marginal fall in net profit at Rs 43 crore for the quarter ended September 30. Its net profit stood at Rs 45.6 crore in the year-ago period.

Panacea Biotec rallied 2% after the pharma company announce receipt of Establishment Inspection Report (EIR) from the USFDA indicating the formal closure of the cGMP and Pre­ Approval Inspection conducted by USFDA, at its Oncology Parenteral and Oral Solids Dosage formulation facilities at Malpur, Baddi in Himachal Pradesh.

Cadila Healthcare slipped 1.5%. Zydus Cadila has received the final approval from the USFDA to market for Metronidazole Tablets USP in strengths of 250 mg and 500 mg. The drug which is used to treat infections caused by bacetria will be produced at the group’s formulations manufacturing facility at Baddi.

Mawana Sugars soared 12.6% to Rs 48 on the BSE. The Board of Directors of the Company has agreed to sell one of the operating units of the Company viz. Titawi Sugar Complex (TSC) in Uttar Pradesh as a going concern on an ‘As is Where is What is’ basis to Indian Potash Limited.

Techno Electric & Engineering Company gained 2% after the company has received an approval for sale/disposal of 45 MW Wind Power assets of the company, subject to approval of shareholders and other relevant authorities. The board of director at its meeting held on November 19, 2016 has approved for the same.

HPL Electric & Power hits 10% lower circuit at Rs 91. The company announced that the Company has reduced its debt around Rs 320 crore from IPO proceeds.

Punjab National Bank fell 6.6%. The bank has cut interest rate on fixed deposits by up to 0.25% in line with competition.

India Cements tanked 3%. The company reported a 62% jump in standalone net profit at Rs 62 crore for the quarter ended September 30, 2016. It had posted a net profit of Rs 38.5 crore in the year-ago period.

HDFC and Unitech are trading lower on the BSE. With Unitech defaulting on loan repayment, housing finance major HDFC said it has sold the realty firm’s outstanding loan of Rs 869 crore to JM Financial Asset Reconstruction Company (JMFARC).

NHPC dipped 2%. The Company has posted a net profit of Rs 1,554.7 crore for the quarter ended September 30, 2016 where as the same was at Rs 1215.7 crore for the quarter ended September 30, 2015.

NBCC slumped 3.5%. NBCC reported a consolidated net profit of Rs 69 crore against net profit of Rs 68 crore in the corresponding quarter last year.

Bharat Forge tanked 3.5%. The company announced the acquisition of US-based Walker Forge Tennessee, for a total consideration of USD14mn. Bharat Forge has made this acquisition through its US subsidiary.

Infosys advanced 0.5%. The IT company has invested Rs 145 mn in a start-up UNSILO. The investment is done through Infosys innovation fund.

Alembic Pharmaceutical is trading marginally higher on the BSE. The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Telmisartan and Amlodipine Tablets.

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Sensex roars with gains, Nifty eyes 8600; SBI, Tata Steel up 8%

stock-marketAfter badly bruised yesterday, the market is picking up pace as investors are actively buying. The Sensex is up 471.03 points or 1.7 percent at 27723.56 and the Nifty is up 158.05 points or 1.8 percent at 8590.05. About 1971 shares have advanced, 310 shares declined, and 84 shares are unchanged.

SBI, Tata Steel, Cipla, ICICI Bank and Adani Ports are top gainers while HDFC Paints, Infosys, HDFC, Wipro and Hero MotoCorp are losers in the Sensex.

Gold held steady early after briefly surging to a six-week high in the previous session, as global markets and the US dollar showed surprise gains in the wake of Republican Donald Trump’s presidential victory. Donald Trump’s victory in the US presidential race throws into question the core assumption in global financial markets that the Federal Reserve will raise interest rates soon and follow with further gradual hikes over coming years.

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Nifty hits 8550, Sensex over 350 pts; Sun Pharma up 3%

Dalal Street CapitalHeight9:45 am Demonetisation: I&B minister M Venkaiah Naidu asked opposition parties to not try scoring “political points” on the Centre’s move to demonetise Rs 500, Rs 1000 notes as it will help in containing inflation, making housing affordable but will hit people like unscrupulous arms dealers. “Apart from curbing corruption and black money, this will bring down inflation, land prices will also get reduced and home buyers will have happy news,” Naidu who is also the minister for Urban Development as well Housing and Urban Poverty Alleviation said at a press conference here.

9:30 am Market outlook: The realty, agriculture and banking sector will greatly benefit from the surprise demonetization carried out by the government on Tuesday, says Rashesh Shah, Chairman & CEO, Edelweiss Financial Services.

There may be many difficulties across several sectors due to this move. But in the medium to long-term, India’s economy will see a deflationary trend. The sudden ban on Rs 500 and Rs 1000 notes helps the government not only crack down on black money, but also counterfeiting of currency, says Shah.

He expects global growth to remain lukewarm with periodic shocks in the global market. Although he adds that he is positive on India and says it is very well insulated from global volitility.

Don’t miss: Upcoming Budget to further simplify tax policies: MoS Finance

The market has opened higher fueled by global market momentum. The Sensex is up 368.97 points or 1.3 percent at 27621.50 and the Nifty is up 114.80 points or 1.4 percent at 8559. About 270 shares have advanced, 25 shares declined, and 3 shares are unchanged.

Sun Pharma, ICICI Bank, Adani Ports and Axis Bank are top gainers, no stock is in red in the Sensex. The Indian rupee opened marginally lower at 66.49 per dollar versus previous close 66.43.

Mohan Shenoi of Kotak Mahindra Bank said, “Trump presidency has triggered volatility in global equity, bond and currency markets. Dollar after initial sell-off rebounded well against major currencies.”

The US dollar rose broadly against its major rivals post trump’s victory. The Mexican Peso plunged to record lows on Wednesday, losing 7.8 percent to trade at 19.79 to the dollar.

Asian shares rebounded and the dollar firmed after global markets made a remarkable comeback from the shock of Republican Donald Trump’s presidential victory, dumping safe-havens for the tempting returns of risk assets.

Analysts were more than a little puzzled by the sharp reversal after global markets plunged initially on Wednesday as Trump swept to power. The Nikkei duly recouped all of Wednesday’s 5 percent loss and more to trade up 6 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7 percent, while Australian stocks soared 3 percent in the largest daily gain since late 2011.

Investors again revised the outlook for US interest rates, with the probability of a December rate hike by the Federal Reserve going from as low as 30 percent to as high as 80 percent.

S&P 500 futures had shed 5 percent at one stage only to stand 1.1 percent higher late in the day.

S&P 500 futures had shed 5 percent at one stage only to stand 1.1 percent higher late in the day.

The Dow jumped 1.4 percent, while the cash S&P 500 and the Nasdaq both added 1.11 percent. Trading volume was the highest since June, when Britain also shocked traders by voting to abandon the European Union. The CBOE Volatility index , a gauge of investor anxiety, fell 23 percent and was on track for its biggest daily drop since late June.

Crude oil prices rose, as US financial markets bounced back from a early Brexit-like slide. Crude had tumbled as much as 4 percent early in the session, in the immediate aftermath of the US presidential election results. US crude tumbled to near USD 43, a near two-month low.

Gold held steady early on Thursday after briefly surging to a six-week high in the previous session, as global markets and the U.S. dollar showed surprise gains in the wake of Republican Donald Trump’s presidential victory.

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Apollo Tyres – Announces Q2 results

Apollo Tyres – Announces Q2 results (Standalone & Consolidated) & Limited Review Report (Standalone & Consolidated) for the Quarter ended September 30, 2016

Apollo Tyres Ltd has announced the following results for the quarter ended September 30, 2016:

The Unaudited Standalone results for the Quarter ended September 30, 2016

The Company has posted a net profit of Rs. 2046.17 million for the quarter ended September 30, 2016 as compared to Rs. 2151.83 million for the quarter ended September 30, 2015. Total Income has decreased from Rs. 25307.69 million for the quarter ended September 30, 2015 to Rs. 23456.75 million for the quarter ended September 30, 2016.

The Consolidated Results are as follows:

The Unaudited Consolidated results for the Quarter ended September 30, 2016

The Group has posted a net profit after tax, minority interest and share of profit of associates of Rs. 2600.39 million for the quarter ended September 30, 2016 as compared to Rs. 2800.73 million for the quarter ended September 30, 2015. Total Income has increased from Rs. 32868.85 million for the quarter ended September 30, 2015 to Rs. 33552.49 million for the quarter ended September 30, 2016.

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Live Stock Market Updates – Sensex Ends Higher; Lupin among top Gainers

todays-profitable-calls-capitalheight

Closing Bell:

Finally, the BSE Sensex ended with a gain of 184 points at 27,459. The BSE Sensex opened at 27,552 touched an intra-day high of 27,591 and low of 27,399.

The NSE Nifty closed with a gain of 63 points at 8,497. The NSE Nifty opened at 8,536 hitting a high of 8,535.85 and low of 8,481.

Live Market:

The Indian stock market snapped a five-day losing streak amid a rebound in Asian equities and also the FBI cleared presidential candidate Hillary Clinton of potential criminal charges in its private email server probe.

At 11:10 AM, the S&P BSE Sensex is trading at 27,511 up 237 points, while NSE Nifty is trading at 8,516 up 83 points.

The BSE Mid-cap Index is trading up 1.53% at 13,036 whereas BSE Small-cap Index is trading up 1.70% at 13,097.

Lupin, ITC, Adani Ports, SBI and Tata Steel are among the gainers, whereas Asian Paints, HUL, TCS, Wipro and Bajaj Auto are losing sheen on NSE.

All the BSE sectoral indices were trading in the positive territory.

The INDIA VIX is down 2.12% at 16.4900. Out of 1,876 stocks traded on the NSE, 226 declined, 1,131 advanced and 319 remained unchanged today.

A total of 17 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

PNB Housing Finance shares got listed at Rs 863, a 11.35% premium over the issue price of Rs 775.The stock got listed on NSE at Rs 860, up 10.97%.

Lupin soared 7% after the company has received the inspection closure report from the USFDA for its Goa facility.

Punjab National Bank climbed 5.8%. Punjab National Bank reported a net profit of Rs.549 crore in the second quarter of the current fiscal, a fall of 11% from the Rs 621 crore profit recorded in the corresponding year-ago period.

Dalmia Bharat Ltd gained 1.7% its boards of Dalmia Bharat and OCL India decided to merge the two entities. The merged entity will have a cement capacity of 25 million tonne spread across eastern and southern India.

Bank of Baroda rallied 4%.  Bank of Baroda reduced the marginal cost of fund (MCLR) based interest rates by 10 basis points across different tenors with effect from 7 November.

PNB Housing Finance was trading at Rs 889 at BSE, a premium of 12.98% over the initial public offer price of Rs 775 per share on its debut on the bourses today.

KPIT Tech gained 2.5% : KPIT Technologies will sell its Berlin-based subsidiary KPIT medini Technologies AG to ANSYS, but did not disclose the deal size.

Dena Bank dropped 2% after the bank posted net loss at Rs 44 crore for the quarter ended September 30, 2016 as compared to net profit of Rs. 38.8 crore for the quarter ended September 30, 2015.

HCC climbed 4.6% to Rs 36 on the BSE. The RBI mandated Overseeing Committee (OC) has approved the (S4A) Scheme of Sustainable Structuring of Stressed Assets for Hindustan Construction Company. The ICICI led joint lenders’ forum had proposed the scheme for the infrastructure major.

The rupee opened marginally lower by four paise at 66.70/$ as against the previous close of 66.74/$.

Asian markets opened in the green after a week of declines & should see pull back from deeply oversold zone extend as we head into the results of US elections due on Tuesday night.

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Live Stock Market Updates – Sensex slips over 100 points; Pharma, Metal slip

stock-market-liveThe Indian stock market fluctuated between gains and losses as a selloff in drug makers was countered by rally in FMCG companies.  The domestic market has opened in green.

At 12:41 PM, the S&P BSE Sensex is trading at 27,349 down 80 points, while NSE Nifty is trading at 8,486 up mere two points.

The BSE Mid-cap Index is trading down 0.85% at 12,903 whereas BSE Small-cap Index is trading down 1.75% at 12,937.

ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank are among the gainers, whereas Sun Pharmaceuticals, Dr Reddy’s, Lupin, L&T and Maruti Suzuki are losing sheen on NSE.

Some buying activity is seen in FMCG, private banking, media and metal sectors, while pharma, auto, banking, IT and realty sectors are showing weakness on NSE.

The INDIA VIX is 2.90% at 16.9425. Out of 1,897 stocks traded on the NSE, 1,387 declined, 663 advanced and 397 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 30 stocks touched a new 52-week low on the NSE.

Shares of the FMCG stocks rallied after the GST council decided on a four tier tax rate structure. The tax rate slabs have been fixed at 5%, 12%, 18% and 28%, Finance Minister Arun Jaitley said in a press conference in New Delhi. ITC Ltd is currently trading at Rs 250.85, up by Rs 10.5 or 4.37% from its previous closing of Rs 240.35 on the BSE.

Larsen and Toubro slipped 1.3%. Suuti will pare its holding in India’s largest engineering company Larsen and Toubro Ltd through a block deal, as per media reports.

Pharmaceuticals stocks are under pressure as reports suggested that United States may bring charges of price collusion against a group of drug makers before the end of this year.

Sun Pharmaceuticals Industries Ltd is currently trading at Rs 661.3, down by Rs 43.7 or 6.2% from its previous closing of Rs 705 on the BSE. The scrip opened at Rs 680 and has touched a high and low of Rs 680 and Rs 654 respectively. So far 13128419 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 169676.15 crore.

Glenmark Pharmaceuticals Ltd is currently trading at Rs 856.95, down by Rs 55.5 or 6.08% from its previous closing of Rs 912.45 on the BSE. The scrip opened at Rs 911.95 and has touched a high and low of Rs 911.95 and Rs 851.35 respectively. So far 924463 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 25746.43 crore.

Dr Reddys Laboratories Ltd is currently trading at Rs 3103.95, down by Rs 158.05 or 4.85% from its previous closing of Rs 3262 on the BSE. The scrip opened at Rs 3238 and has touched a high and low of Rs 3238 and Rs 3085 respectively. So far 344198 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 55711.14 crore.

Lupin Ltd is currently trading at Rs 1401.95, down by Rs 71.6 or 4.86% from its previous closing of Rs 1473.55 on the BSE. The scrip opened at Rs 1460 and has touched a high and low of Rs 1461.95 and Rs 1394 respectively. So far 1248551(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 66492.91 crore.

Union Bank of India gained 0.40% to Rs 138. The bank will announce its Q2 numbers today.

Mphasis slipped 3.4%. The IT company registered 3% rise in its consolidated net profit at Rs 211 crore for the quarter ended September 30, 2016 against Rs 204 crore in the same quarter last year.

TD Power Systems fell 3.6%. TD Power posted net profit of Rs 1.3 crore for the quarter ended September 30, 2016 against net profit of Rs 1.1 crore in the same quarter a year ago.

Tube Investment dragged 2.9% to Rs 633. The company reported 113.3% rise in net profit at Rs 54 crore for the quarter ended September 30, 2016 against Rs 25 crore in the corresponding quarter a year ago.

Berger Paints inched up 0.52% to Rs.262. The company reported a 55% jump in its consolidated net profit at Rs 139 crore for the quarter ended September, aided by exceptional gains of Rs 44.20 crore.

Colgate-Palmolive (India) Ltd is currently trading at Rs 988.6, up by Rs 37.1 or 3.9% from its previous closing of Rs 951.5 on the BSE. The scrip opened at Rs 972 and has touched a high and low of Rs 1031.6 and Rs 972 respectively. So far 1292938 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 25879.43 crore.

Dabur India Ltd is currently trading at Rs 297.35, up by Rs 5.45 or 1.87% from its previous closing of Rs 291.9 on the BSE. The scrip opened at Rs 293.85 and has touched a high and low of Rs 300.8 and Rs 293.3 respectively. So far 1158967 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 51418.78 crore.

Hindustan Unilever Ltd is currently trading at Rs 856, up by Rs 16.25 or 1.94% from its previous closing of Rs 839.75 on the BSE. The scrip opened at Rs 848 and has touched a high and low of Rs 866.85 and Rs 848 respectively. So far 1226295 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 181744.97 crore.

VST Industries Ltd is currently trading at Rs 2335, up by Rs 29.9 or 1.3% from its previous closing of Rs 2305.1 on the BSE. The scrip opened at Rs 2377 and has touched a high and low of Rs 2440 and Rs 2306.05 respectively. So far 4547(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3559.07 crore.

The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.

Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market underperformance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.

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Live Stock Market Updates – Nifty trade below 8,500 mark

NSEThe Indian stock market fluctuated between gains and losses as a selloff in drug makers was countered by rally in FMCG companies.  The domestic market has opened in green.

At 9:40 AM, the S&P BSE Sensex is trading at 27,439 up mere nine points, while NSE Nifty is trading at 8,486 up mere two points.

The BSE Mid-cap Index is trading up 0.05% at 13,021 whereas BSE Small-cap Index is trading down 0.14% at 13,148.

ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank are among the gainers, whereas Sun Pharmaceuticals, Dr Reddy’s, Lupin, L&T and Maruti Suzuki are losing sheen on NSE.

Some buying activity is seen in FMCG, private banking, media and metal sectors, while pharma, auto, banking, IT and realty sectors are showing weakness on NSE.

The INDIA VIX is 0.71% at 16.5825. Out of 1,867 stocks traded on the NSE, 807 declined, 663 advanced and 397 remained unchanged today.

A total of 20 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.

Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market underperformance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.

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Live Stock Market Updates – Sensex, Nifty flat; Pharma, IT stocks drag

Dalal Street CapitalHeightThe Indian stock market fluctuated between gains and losses as a selloff in drug makers was countered by rally in FMCG companies.  The domestic market has opened in green.

At 9:40 AM, the S&P BSE Sensex is trading at 27,439 up mere nine points, while NSE Nifty is trading at 8,486 up mere two points.

The BSE Mid-cap Index is trading up 0.05% at 13,021 whereas BSE Small-cap Index is trading down 0.14% at 13,148.

ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank are among the gainers, whereas Sun Pharmaceuticals, Dr Reddy’s, Lupin, L&T and Maruti Suzuki are losing sheen on NSE.

Some buying activity is seen in FMCG, private banking, media and metal sectors, while pharma, auto, banking, IT and realty sectors are showing weakness on NSE.

The INDIA VIX is 0.71% at 16.5825. Out of 1,867 stocks traded on the NSE, 807 declined, 663 advanced and 397 remained unchanged today.

A total of 20 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.

Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market underperformance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.

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