Indian stock market snapped a six-day losing streak and gained 1% when the day closed. Overall, it was a volatile day with both indices lacking clear direction. The only positive is that the indices closed in green.
Sentiments remained cautious over concern of India’s demonetization move estimated to pull down gross domestic product growth this financial year from last year’s 7.6%.
On the economy front, Fitch re-affirmed its "negative" outlook for India's banking sector, saying the financial standing remained "fragile" without bigger capital injections and that the government's action on banknotes could end up having a mixed impact.
Asian markets, Hong Kong’s Hang Seng was up 1.4%, while Shanghai Composite Index gained 0.66%. Japan’s Nikkei also gained 0.04%.
Both Nifty and Sensex wavered throughout the day without indicating any clarity. However, S&P BSE Sensex closed at 25,961, up 196 points, marginally missing the psychological barrier. On the other hand, NSE Nifty reclaimed its 8,002 spot, up by 73 points. The BSE Mid-cap Index closed at 11,898, gaining 1.39%, whereas BSE Small-cap Index closed on a positive note at 11,627 gaining 1.16%.
Hindalco, Bajaj Auto, Hero Motors, HDFC, HUL were among the top gainers, whereas BHEL, L&T, Gail, Dr. Reddy were the losers on Nifty 50. When the closing bell rang, sectors including Auto, Metal, Consumer Durables, Oil & Gas and Pharma were in the green, while Capital Goods, Power and Utilities sectors were in the red on BSE.
The INDIA VIX closed -3.31% at 18.4650. Out of 1,516 stocks traded on the NSE, 556 declined, 896 advanced and 64 remained unchanged today. A total of 9 stocks registered a fresh 52-week high in trade today, while 105 stocks touched a new 52-week low on the NSE.
The Rupee is trading marginally down at Rs. 68.19/$. Gold is trading at Rs 29,200 per 10 gms and silver is trading at Rs 41,024 per kg. Crude Oil is trading Rs 3345.00 per lot.
Sentiments remained cautious over concern of India’s demonetization move estimated to pull down gross domestic product growth this financial year from last year’s 7.6%.
On the economy front, Fitch re-affirmed its "negative" outlook for India's banking sector, saying the financial standing remained "fragile" without bigger capital injections and that the government's action on banknotes could end up having a mixed impact.
Asian markets, Hong Kong’s Hang Seng was up 1.4%, while Shanghai Composite Index gained 0.66%. Japan’s Nikkei also gained 0.04%.
Both Nifty and Sensex wavered throughout the day without indicating any clarity. However, S&P BSE Sensex closed at 25,961, up 196 points, marginally missing the psychological barrier. On the other hand, NSE Nifty reclaimed its 8,002 spot, up by 73 points. The BSE Mid-cap Index closed at 11,898, gaining 1.39%, whereas BSE Small-cap Index closed on a positive note at 11,627 gaining 1.16%.
Hindalco, Bajaj Auto, Hero Motors, HDFC, HUL were among the top gainers, whereas BHEL, L&T, Gail, Dr. Reddy were the losers on Nifty 50. When the closing bell rang, sectors including Auto, Metal, Consumer Durables, Oil & Gas and Pharma were in the green, while Capital Goods, Power and Utilities sectors were in the red on BSE.
The INDIA VIX closed -3.31% at 18.4650. Out of 1,516 stocks traded on the NSE, 556 declined, 896 advanced and 64 remained unchanged today. A total of 9 stocks registered a fresh 52-week high in trade today, while 105 stocks touched a new 52-week low on the NSE.
The Rupee is trading marginally down at Rs. 68.19/$. Gold is trading at Rs 29,200 per 10 gms and silver is trading at Rs 41,024 per kg. Crude Oil is trading Rs 3345.00 per lot.
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