Nifty shuts above 8,150 mark; FMCG, Realty stocks lead

The Indian stock market ended with smart gains on Friday as investors sentiments were buoyed by rupee appreciation. U.S. dollar weakened, while crude oil prices rebounded in Asian trade.

The buying was so fierce that not a single sectoral index on the NSE ended with losses; FMCG, realty, pharma, IT, banking, media, financial services and auto stocks ended among the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally. 

The BSE Sensex ended with a gain of 260 points at 26,626. The benchmark indices opened at 26,442 touched an intra-day high of 26,678 and low of 26,407.

The NSE Nifty closed 82 points higher at 8,186 points. It opened at 8,120 points, hitting a high of 8,197 and low of 8,115.

Sentiment was optimistic after Finance Minister Arun Jaitley said that the effect of note ban is evidently visible with the country’s tax collection figures revealing double-digit growth. Jaitley highlighted that till November 30, there has been a 26.2% rise in central indirect tax collection and till December 19, direct tax collection has risen by 14.4%. Besides, appreciation in Indian rupee against the dollar has also supported the sentiment.

The Nifty Pharma index declined over 14% in 2016 as several companies failed to meet the US Food and Drug Administration's quality standards. The index had gained 34% in the last three years, while over the last five years, it had surged 125%.
  
Of the five pharmaceutical stocks that are both on the Nifty 50 and Nifty Pharma, the shares of Aurobindo Pharma and Sun Pharmaceutical Industries declined 24% each in 2016. While shares of Lupin declined 19%, those of Cipla fell 12% and Dr. Reddy's Laboratories fell nearly 2% in 2016.

The Nifty PSU Bank index closed higher by 1.14% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. The Nifty PSU Bank index is trading up 1.2% at 2,984. The Nifty PSU Bank index opened at 2,951 and hit a high of 3,002 and a low of 2,946.

Among the 50-stocks of Nifty, Aurobindo Pharma, Bosch, GAIL, Sun Pharma, ITC, Power Grid and Grasim gained on NSE, whereas BPCL, Bajaj Auto, ONGC, Tata Steel, Dr. Reddy's, Tata Motors and HDFC Bank closed with losses.

The India VIX (Volatility) index was up 1.19% at 15.46. The BSE Midcap and Smallcap indices gained over 1% each. Out of 1,539 stocks traded on the NSE, 414 declined and 941 advanced today.

The rupee was trading up19 paise at 67.90 per US dollar.

On the global front, Asian markets closed mostly in green on Friday, the last trading day of 2016, despite the modest losses posted overnight on Wall Street. The Shanghai Composite index was up 0.24% and Hong Kong’s Hang Seng index closed higher by 1%. Nikkei 225 ended lower.

In Europe, the FTSE 100 is trading in red. CAC 40 and DAX are trading down by 0.2% each.

Aurobindo Pharma zoomed 3.2% after the company received US Food and Drug Administration's (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.

Engineers India fell 9.8% on the BSE after the stock turned ex bonus. The company announced that the shareholders of the company will get one free share for one held.

L&T Finance Holdings rallied 3% on the BSE after Harsh Mariwala bought 46,000 shares in the company.

Havells India gained 4.5% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.

Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.

Jagran Prakashan rallied 3.4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5,  2017 to consider the proposal for buyback of shares.

RS Software climbed 2%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.

GE Power India soared 5.3% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.

Golden Tobacco closed on a flat note. Golden Tobacco Ltd said that it has received notice from a consortium of banks led by Canara Bank for one of its properties situated at Guntur.

IFCI slipped 3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).

A total of 12 stocks registered a fresh 52-week high in trade today, whereas 13 stocks touched a new 52-week low on the NSE.

Sensex jumps over 250 points; Aurobindo Pharma, ITC up

The Indian stock markets with the benchmarks advancing to their highest level in two-weeks. Nifty50 hits 8,150 mark on Friday. Market sentiment was also boosted after Finance Minister Arun Jaitley said that government tax collection has gone up sharply, belying fears of sharp slowdown in the economy.

At 12:27 PM, the S&P BSE Sensex is trading at 26,593 up 227 points, while NSE Nifty is trading at 8,170 up 66 points.

The BSE Mid-cap Index is trading up 1.16% at 12,043, whereas BSE Small-cap Index is trading up 1.02% at 12,076.

Aurobindo Pharma, ICICI Bank, BHEL, ITC and Grasim are among the gainers, whereas BPCL, Bharti Airtel, Bharti Infratel, Tata Motors and HDFC Bank are losing sheen on NSE.

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

Out of 1,889 stocks traded on the NSE, 288 declined, 1,262 advanced and 339 remained unchanged today.

Some buying is observed in industrial, financial services, IT, banking, metal, power, realty and auto sectors while telecom is showing weakness on BSE.

The INDIA VIX is down 0.06% at 15.2725.

Aurobindo Pharma zoomed 2.7% after the company has received US Food and Drug Administration's (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.

Havells India gained 3.4% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.

The Nifty PSU Bank index was trading higher by 1.52% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. Oriental Bank of Commerce is up 3.8% led the gains along with Allahabad Bank and Union Bank of India.

Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.

Tree House Education surged 5% to Rs 18.25 after the company informed exchanges that a meeting of the board of director is scheduled to be held on Friday to consider and approve appointment of Suraj Manghnani as an additional independent non-executive director.

Jagran Prakashan rallied 4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5, to consider the proposal for buyback of shares.

Tata Power gained 1.2%. Mehli Mistry, the promoter of M Pallonji and Co, has acquired 2.57 crore shares of Tata Power, in what's seen as a bid to counter cousin Cyrus Mistry, the ousted chairman of Tata Sons.

SBT rose 2% after the bank has revised the Marginal Cost of Funds based Lending Rate (MCLR) to be effective from January 1, 2017.

Lakshmi Vilas Bank inched up 1%. Lakshmi Vilas Bank has launched Qualified Institutional Placement (QIP) to raise over Rs599.88 crore by issuing 4.25 crore shares in domestic or international markets.

RS Software climbed 3%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.

Petronet LNG is trading higher by 1%. Petrobangla on Thursday signed an initial agreement with Petronet to set up an LNG re-gasification terminal on Kutubdia Island and a pipeline at an estimated cost of $950 million. Petrobangla is a government-owned oil company of Bangladesh, as per media reports.

GE Power India soared 6% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.

Golden Tobacco gained 2.6%. Golden Tobacco Ltd said that it has received notice from consortium of banks led by Canara Bank for one of its property situated at Guntur.

IFCI slipped 2.3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).

BHEL advanced 1.4%. The company has successfully commissioned another 600mw coal-based thermal power plant in Telangana. 

STEEL STRIPS WHEEL LTD  is currently trading at Rs 624.85, up by Rs 12.5 or 2.04% from its previous closing of Rs 612.35 on the BSE. The company announce Exports order for supply of Steel wheels for Winter market in EU bagging of repeat and Canada.

Most  Asian indices opened flat with the Japanese 'Nikkei" trading in the green. The deadline to exchange old high value currency notes comes to an end today and the attention is on what Prime Minister Narendra Modi will unleash in his much anticipated speech on the eve of New Year. Reports indicate that the inconveniences of the demonetisation may soon be history as the PM is set to announce a host of measures that will propel the economy back on the growth track. The FM sought to assuage any fears by throwing up facts stating that November saw a rise in tax collection; an increase in rabi sowing, higher air traffic and increased insurance premiums.

The government is proposing a staggered relaxation of existing restrictions on cash withdrawals from banks after 30 December. This is aimed at smoothening the transition as the Reserve Bank of India (RBI) supplies new currency notes.

The banking sector continues to face “significant” levels of stress but the financial system remains stable overall after moves to enhance transparency, Reserve Bank of India (RBI) governor Urjit Patel said in the biannual Financial Stability Report.

Nifty settles above 8,100; Auto, Metal, IT stocks gain

After opening with modest gains, indices remained under pressure in the first half. The key benchmark climbed on the last day of the December series as investors prepared to close out a volatile year for financial markets. However, as the day progressed, late bout of buying in the auto, metal and IT stocks lifted the benchmarks.

Short-covering on the back of futures and options (F&O) expiry and a rupee appreciation buoyed the Indian equity markets during the mid-afternoon trade session on Thursday.

Besides, budgetary expectations and value buying enhanced investors' risk-taking appetite, though negative global cues hampered the upward movement.

Sentiments got some support with report that the Cabinet Committee on Economic Affairs (CCEA) gave approval for over Rs 11,000 crore projects to improve rural road connectivity in the worst-affected left-wing extremism (LWE) districts from security angle.

The BSE Sensex ended with a gain of 155 points at 26,366. The BSE Sensex opened at 26,429 touched an intra-day high of 26,430 and low of 26,168.

The NSE Nifty closed with a gain of 69 points at 8,104. The NSE Nifty opened at 8,031 hitting a high of 8,111 and low of 8,021.

Metal, auto, realty, financial services, banking, IT and FMCG stocks led from the front. Only Pharma stocks were among the major losers.

Among the 50-stocks of Nifty, Grasim, Yes Bank, BPCL, Eicher Motors, Bosch, Tata Motors DVR, UltraTech Cements and Maruti Suzuki were among the gainers on NSE, whereas Adani Ports, Sun Pharmaceuticals, Aurobindo Pharma, Infosys, L&T, BHEL and SBI were among the losers today.

The India VIX (Volatility) index was down 1.67% at 15.2825. Out of 1,379 stocks traded on the NSE, 390 declined and 927advanced today. The BSE Midcap and Smallcap indices closed up by 1% each.

The rupee was trading up 14 paise at 68.09 per US dollar.

On the global front, Asian markets closed on a mixed trend, as the crude oil prices slipped after touching its highest level in more than a year overnight. The Nikkei 225 ended lower by 1%. Shanghai Composite ended in red and Hong Kong’s Hang Seng index index closed slightly higher.

European stocks trading in red. The FTSE 100, DAX and the CAC 40 were trading marginally down.

The Nifty IT index, which has fallen 9% so far this year, was 0.9% higher with Tech Mahindra and TCS as the top percentage gainers.

Shares of some pharmaceutical companies came under pressure after media report that the National Pharmaceutical Pricing Authority may bring rest of the 814 essential formulations under price control in the current financial year ending in March. Divis Lab fell 4.8%, whereas Glenmark, Sun Pharma and Aurobindo Pharma dropped 1% respectively.

Shares of IDBI Bank and IFCI gained on news of NSE filing papers with Sebi for its IPO. IFCI zoomed 13.4% on the BSE.

IRB Infrastructure gained 2.2% after the company has received Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project.

JMC Projects rallied 8% after company secured new orders worth over Rs 1,457 crore.

Pratibha Industries zoomed 11.5%. The company's board to meet on January 4, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

Phoenix Mills rose 2%. The company on Wednesday said it has acquired the remaining 8.72% stake in its wholly-owned subsidiary Island Star Mall Developers Pvt Ltd (ISMDPL).

Rajesh Exports advanced 1.4% after the company has received an export order worth Rs 929 crore for designer gold and diamond studded jewellery. The order is to be executed by March, the company said.

Goa Carbon rallied 3%. The company on Wednesday informed bourses that the operations at Bilaspur Plant have commenced from December 27, 2016. 

A total of 12 stocks registered a fresh 52-week high in trades today, whereas 20 stocks touched a new 52-week low on the NSE.

Sensex, Nifty flat ahead of F&O expiry

The Indian stock markets fluctuated between marginal gains and losses on December Futures & Options expiry today.

 

At 1:05 PM, the S&P BSE Sensex is trading at 26,244 up 33 points, while NSE Nifty is trading at 8,049 up 15 points.

The BSE Mid-cap Index is trading up 0.61% at 11,906, whereas BSE Small-cap Index is trading up 0.70% at 11,906.

Bharti Infratel, Ambuja Cements, TCS, HCL Tech, ACC and Axis Bank are among the gainers, whereas Adani Ports, GAIL, IndusInd Bank, HDFC, Bharti Airtel and ITC are losing sheen on NSE.

A total of 11 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Out of 1,890 stocks traded on the NSE, 527 declined, 1,023 advanced and 340 remained unchanged today.

Some buying is observed in IT, banking, pharma, financial services and realty sectors while FMCG, auto and media are showing weakness on NSE.

The INDIA VIX is up 0.72% at 15.6550.

IFCI Ltd is currently trading at Rs 28.15, up by Rs 3.45 or 13.97% from its previous closing of Rs 24.7 on the BSE. The rally commenced following NSE filed its draft prospectus for a Rs 10,000-crore Initial Public Offer (IPO) of equity with the Securities and Exchange Board of India (Sebi). IFCI holds around 3.05% stake in the exchange.

Reliance Industries is trading marginally higher after the company said it has successfully commissioned the first phase of its 2.2 million metric tonnes per annum (MMTPA) para-xylene (PX) plant at Gujarat's Jamnagar.

IRB Infrastructure gained 2% after the company has received Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project.

JMC Projects rallied 8% after company secured new orders worth over Rs 1,457 crore.

Pratibha Industries zoomed 11.5%. The company's board to meet on January 4, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

Phoenix Mills advanced 2%. The company on Wednesday said it has acquired the remaining 8.72% stake in its wholly-owned subsidiary Island Star Mall Developers Pvt Ltd (ISMDPL).

Rajesh Exports jumped 2.3% after the company has received an export order worth Rs 929 crore for designer gold and diamond studded jewellery. The order is to be executed by March, the company said.

JK Tyre inched up 1.3%. The tyre manufacturer said its board has given approval to raise up to Rs 1,000 crore by issuing securities.

Cadila Healthcare slipped 2%. The company’s wholly owned subsidiary Zydus Healthcare has acquired six brands from US drug maker MSD and its subsidiaries for an undisclosed amount.

Shares of Reliance Defence and Engineering rose over 1% as Morgan Stanley Mauritius Company, on Wednesday, bought 1.67% stake in the company from Valiant Mauritius Partners, at Rs 54.15 apiece.

Shares of Prakash Constrowell were up 4.8% ahead of the company's board meeting to consider and approve further issue of capital and raising funds by suitable options. The board meeting will take place later today, the company had said in an exchange filing on Monday.

Shares of Godfrey Phillips fell 2% on profit taking after the stock rose 23% in the previous two sessions.

Goa Carbon rallied 3%. The company on Wednesday informed bourses that the operations at Bilaspur Plant have commenced from December 27, 2016. 

The Indian rupee opened flat on Thursday at 68.24 per dollar. On the global front, Yuan remains in the focus, with some sources speculating that the currency breached 7 mark in offshore markets.

Finance Minister Arun Jaitley met public sector bank heads to discuss how they are handling the demonetisation issue besides taking suggestions for the upcoming Union Budget.

Most Asian indices opened weak following overnight cues from the US where the Dow Jones fell over 100 points. Weakness in oil & fall in bond yields all saw profit booking in equities with year end blues prompting raising cash. However the silver lining was a strong rally in the Brazilian 'Bovespa' which gained due to value buying & weakness in the US$.

Sensex, Nifty to open on a negative note

Santa Claus seems to have made a late surprise visit on Tuesday but didn’t stay back for long as the market was back to its tight range on Wednesday. The December series will see its demise today as F&O expiry gets underway. Market-wide rollover of F&O contracts are higher than 3-month average and rollover of Nifty futures too has been higher this series.

The outlook is a flat to negative start. While indices may not swing much except towards the close, heightened activity would be seen in select stocks including the banking pack. Finance Minister Arun Jaitley met public sector bank heads to discuss how they are handling the demonetisation issues besides taking suggestions for the upcoming Union Budget. 

The Indian currency weakened yet again on Wednesday to end at a month’s low. US indices lost their winning ways following a fall in home re-sales which indicated that higher interest rates may take a toll on the housing market.  The NSE has filed its DRHP with Sebi for one of the biggest IPOs in recent years.

Most Asian indices opened weak following overnight cues from the US where the Dow Jones fell over 100 points. Weakness in oil & fall in bond yields all saw profit booking in equities with year end blues prompting raising cash. However the silver lining was a strong rally in the Brazilian 'Bovespa' which gained due to value buying & weakness in the US$.     

Nifty faced strong resistance around 8100 levels as derivative contract expiry due today saw intra day gains disappear. For today expect volatility to be the order with 8000-8100 being the range for the Nifty expiry of the last series of calendar 2016.Initial weakness may be bought into with stock specific action expected in the 2nd half of the day.

Among other stocks in focus:

Reliance Industries: Reliance Industries on Wednesday said it has successfully commissioned the first phase of its 2.2 million metric tonnes per annum (MMTPA) para-xylene (PX) plant at Gujarat's Jamnagar.

IRB Infrastructure: IRB Infra has informed stock exchanges that the company has received Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project.

JMC Projects: The company secured new orders worth over Rs 1,457 crore.

Pratibha Industries: The company's board to meet on January 4, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

IDFC Bank: The private sector bank is close to merging various lending divisions with a plan to reduce headcount, as per media report.

Phoenix Mills: The company on Wednesday said it has acquired the remaining 8.72 per cent stake in its wholly-owned subsidiary Island Star Mall Developers Pvt Ltd (ISMDPL).

JK Tyre: The tyre manufacturer said its board has given approval to raise up to Rs 1,000 crore by issuing securities.

Sasken Communication: The company has proposed to buy back 29,27,879 equity shares having face value of Rs 10 each at a price of Rs 410 per share in cash for a total consideration not exceeding Rs 12004.31 lakhs.

Cadila Healthcare: The company’s wholly owned subsidiary Zydus Healthcare has acquired six brands from US drug maker MSD and its subsidiaries for an undisclosed amount.

Jet Airways: The appointment of Vikram Mehta, Rajshree Pathy and Ranjan Mathai have received the nod of the shareholders, the airline said in a regulatory filing on Wednesday.

Goa Carbon: The company on Wednesday informed bourses that the operations at Bilaspur Plant have commenced from December 27, 2016.