Why you should beware of high PE stocks; Rupee may be choppy, but still world-beater; and more

ET Markets Daily Brief | Wed, Dec 21, 2016 | 04:30 PM IST Follow ET Markets

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Beware of high PE stocks! Most of them may not have fallen enough In the BSE500 basket, there are 121 stocks, whose trailing 12-month EPS stand above 40. Most of them belong to the FMCG, cement, pharma and IT sectors. SBI, ONGC among 174 stocks that saw bearish crossover on MACD MACD is one of the most effective trend-following momentum indicators used to spot a change in the short-term trend of the market. Rupee may be choppy, but is still world beater, will remain so into 2017 Market experts said domestic factors like the Reserve Bank of India's status quo on policy rates in December review also added strength to the local currency.

Interview One to One I think the rupee has been an outperformer and maybe another two or three other countries have done better than India... Shubhada Rao, Chief Economist, Yes Bank

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Market Watch 21 Dec | 04:30PM| SENSEX NIFTY USD/INR GOLD 26242.38 ↓-65.60 8061.30 ↓-21.10 67.88 ↓-0.16 27088.00 ↓-42.00

Gainers Losers 21 Dec, 2016, 04:30PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low TAAL Enterprises Ltd. 162.00 20.00 23192 162.00 143.20 Urja Global Ltd. 1.40 19.66 4501110 1.40 1.27 Pritish Nandy Communications Ltd. 24.50 16.11 163291 25.20 20.25

Tweet of the day... RBI exempts KYC accounts from rule on old Rs 500, Rs 1,000 note deposits above Rs 5,000

FROM THE NEWSPAPER

Blog: Look what happened on D-Street all through Wednesday Dalal Street is looking for fresh triggers to move up, but a sliding rupee is not helping matters. FIIs remain net sellers and year-end blues are also hurting the market. 15 Nifty50 stocks rose up to 100% in lacklustre 2016 ​Brokerage Angel Broking says the market is likely to remain volatile for some time, but one should use this opportunity to buy quality stocks. Smallcaps with big returns will be the theme for EMs in'17: Templeton It expects macroeconomic advances to continue in 2017, and says this would bode well for topline growth opportunities and the earnings outlook for EMs. Some AIFs may soon start playing on commodity derivatives platform An AIF is a privately pooled investment vehicle, which collects funds from sophisticated investors, for investing them in accordance with a defined investment policy for the benefit of investors. 20 stocks seeing rise & fall in open interest with sharp price changes The highest Put base is placed at strike price 8,000 with 69 lakh contracts while the highest Call base is at strike price 8,300 with 61 lakh contracts.

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