The Indian stock market see-sawed between the negative and positive zone throughout the day and ended lower on Wednesday. The domestic market slid for a third straight day as investors continued to assess the impact of the Prime Minister's move to ban high denomination banknotes.
Today’s decline was led by the consumer durables, metal, pharma, oil and gas, realty and capital goods stocks, while IT, consumer discretionary, auto and technology were among the gainers.
Finally, the BSE Sensex ended with a loss of mere six points at 26,299. The BSE Sensex opened at 26,509, touched an intra-day high of 26,621 and low of 26,262.
The NSE Nifty closed with a gain of mere three points at 8,112. The NSE Nifty opened at 8,584 hitting a high of 8,622 and low of 8,544.
Among the 50-stocks of Nifty, Asian Paints, Zee, Eicher Motors, Tech Mahindra, TCS, Maruti Suzuki and Tata Power were among the gainers on NSE, whereas Hindalco, Ambuja Cement, ITC, Aurobindo Pharma and Sun Pharmaceuticals were among the losers today.
Investors will be keeping an eye on the Parliament winter session which began today. The Centre has lined up three key GST Bills for approval to roll out the new tax from April 1 next year even as the demonetization move threatens to swamp the winter session of Parliament.
On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation of fruits and pulses softened, raising the chances of an interest rate cut by the Central bank.
India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.
The India VIX (Volatility) index was down 3.18% at 19.5025. Out of 1,431 stocks traded on the NSE, 809 declined and 574 advanced today. The BSE Midcap and Smallcap indices ended up.
The rupee was trading down 10 paise at 67.84 per US dollar.
On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 1%.
In Europe, the FTSE 100 was trading down 0.24%. DAX and the CAC 40 were trading lower by 0.3% each.
Cigarette stocks closed in red after the Union Cabinet is likely to soon consider a proposal to completely ban foreign direct investment in the tobacco sector. ITC tumbled 3.6% on the NSE.
PC Jeweller fell 8% on the BSE. Jewellery companies, whose business mainly runs on cash transactions, have been reeling under the government’s move to ban the usage of high value currency notes.
HDFC gained 2.5% to Rs 1,257 on BSE after the company said that it intends to raise Rs 2,000 crore through issue of senior, secured, non-convertible debentures on private placement basis.
Tata Global Beverages jumped 3.6%. The company reported 48% increase in consolidated net profit at Rs 108 crore for the quarter ended September 30, 2016. Tata Global Beverages had posted a net profit of Rs 73 crore in the July-September quarter a year ago.
Ambuja Cements, ACC closed lower on the BSE after Lafarge Holcim increased its shareholding to 63% of the total Ambuja shares through its subsidiary. It also increased its holding in ACC Ltd., a subsidiary of Ambuja, to 4.48%, the company said in a BSE filing.
Elgi Equipments rallied 4.4% to Rs 175 after the revenue was reported to be 8.4% below the estimate of Rs 373 cr, while net profit was reported 3% lower than the estimated figure of Rs 19 cr.
PSU Oil stocks closed in red after petrol price on Tuesday was cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre.
A total of six stocks registered a fresh 52-week high in trade today, whereas 58 stocks touched a new 52-week low on the NSE.
Today’s decline was led by the consumer durables, metal, pharma, oil and gas, realty and capital goods stocks, while IT, consumer discretionary, auto and technology were among the gainers.
Finally, the BSE Sensex ended with a loss of mere six points at 26,299. The BSE Sensex opened at 26,509, touched an intra-day high of 26,621 and low of 26,262.
The NSE Nifty closed with a gain of mere three points at 8,112. The NSE Nifty opened at 8,584 hitting a high of 8,622 and low of 8,544.
Among the 50-stocks of Nifty, Asian Paints, Zee, Eicher Motors, Tech Mahindra, TCS, Maruti Suzuki and Tata Power were among the gainers on NSE, whereas Hindalco, Ambuja Cement, ITC, Aurobindo Pharma and Sun Pharmaceuticals were among the losers today.
Investors will be keeping an eye on the Parliament winter session which began today. The Centre has lined up three key GST Bills for approval to roll out the new tax from April 1 next year even as the demonetization move threatens to swamp the winter session of Parliament.
On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation of fruits and pulses softened, raising the chances of an interest rate cut by the Central bank.
India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.
The India VIX (Volatility) index was down 3.18% at 19.5025. Out of 1,431 stocks traded on the NSE, 809 declined and 574 advanced today. The BSE Midcap and Smallcap indices ended up.
The rupee was trading down 10 paise at 67.84 per US dollar.
On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 1%.
In Europe, the FTSE 100 was trading down 0.24%. DAX and the CAC 40 were trading lower by 0.3% each.
Cigarette stocks closed in red after the Union Cabinet is likely to soon consider a proposal to completely ban foreign direct investment in the tobacco sector. ITC tumbled 3.6% on the NSE.
PC Jeweller fell 8% on the BSE. Jewellery companies, whose business mainly runs on cash transactions, have been reeling under the government’s move to ban the usage of high value currency notes.
HDFC gained 2.5% to Rs 1,257 on BSE after the company said that it intends to raise Rs 2,000 crore through issue of senior, secured, non-convertible debentures on private placement basis.
Tata Global Beverages jumped 3.6%. The company reported 48% increase in consolidated net profit at Rs 108 crore for the quarter ended September 30, 2016. Tata Global Beverages had posted a net profit of Rs 73 crore in the July-September quarter a year ago.
Ambuja Cements, ACC closed lower on the BSE after Lafarge Holcim increased its shareholding to 63% of the total Ambuja shares through its subsidiary. It also increased its holding in ACC Ltd., a subsidiary of Ambuja, to 4.48%, the company said in a BSE filing.
Elgi Equipments rallied 4.4% to Rs 175 after the revenue was reported to be 8.4% below the estimate of Rs 373 cr, while net profit was reported 3% lower than the estimated figure of Rs 19 cr.
PSU Oil stocks closed in red after petrol price on Tuesday was cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre.
A total of six stocks registered a fresh 52-week high in trade today, whereas 58 stocks touched a new 52-week low on the NSE.
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