The selling spree seems to have halted temporarily after India saw one of the biggest outflows in a nervous November. Such was the intensity of selling that hardly any sector was spared as foreign investors offloaded about $ 11 billion of equities and bonds in Asia’s emerging markets following Donald Trump’s surprise victory in the U.S. presidential election. India has seen close to Rs 11,000 crore in outflow this month; the worst ever for a month since 2002.
For now, the Nifty’s move above 8000 level may bring in some psychological relief ahead of the monthly expiry of derivative contracts on Thursday. Metal, Realty and Auto stocks saw some buying on Tuesday while Capital Goods and Power companies were at the receiving end. The outlook is a positive start. The Dow Jones Industrial Average topped 19,000 intra-day. Gold is turning precious. Oil is inching higher, but this may not be sustainable. Expectations that policy makers will extend their stimulus programmes have kept European bonds upbeat.
At 1:30 PM, the S&P BSE Sensex is trading at 26,035 up 73 points, while NSE Nifty is trading at 8,026 up 24 points. A total of 6 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE.
The BSE Mid-cap Index is trading up 0.79% at 11,992, whereas BSE Small-cap Index is trading up 1.02% at 11,745.
Some buying activity is seen in Capital Goods, Metal, Pharma, Auto, while Oil & Gas, Energy, Finance, Telecom are showing weakness on BSE.
L&T, Hindalco, Tata Steel, PowerGrid, Asian Paints, Eicher Motors are among the gainers, whereas Zee Entertainment Enterprises, BPCL, Wipro, HDFC, M&M, Maruti, Dr Reddy are losing sheen on NSE in the first trading hour.
The INDIA VIX is up 0.55% at 18.5675.
A2Z Infra Engineering Ltd rallied 5%. The company's subsidiary A2Z Green Waste Management Limited (previously known as A2Z Infrastructure) (A2Z Green"), has on November 19, 2016, agreed to a framework with one of its lenders for a settlement of its various debt obligation aggregating to Rs 4161.84 million.
Lupin climbed 3.5% after the company has received tentative approval for its Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg from the USFDA to market a generic version of ViiV Healthcare Company's Epzicom Tablets, 600 mg/300 mg.
Larsen & Toubro soared 3%. Larsen & Toubro on Tuesday reported 84% in its consolidated net profit to Rs 1,435 crore for the quarter ended September 30 as compared to Rs 778 crore in the same period last year.
Wockhardt dropped 2.2% after the company informed the exchange that USFDA has issued a Warning Letter to C P Pharmaceuticals Limited, Wrexham, United Kingdom, a step down Subsidiary of the Company.
Sun Pharma rose 1.6%. The company announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.
Siemens gained 1%. The company will announce its Q2 numbers today.
Canara Bank inched up 0.50% on the BSE. The bank is planning to sell a portion of its 43% stake in arm Can Fin Homes as part of the government's diktat asking public sector banks look to sell their noncore businesses.
UltraTech Cement is trading in green on the BSE. The company on Tuesday said the Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the fair trade regulator Competition Commission of India against the company on deposit of 10% of the penalty amount.
Birla Corporation rallied 2%. Birla Corporation reported an over two-fold jump in standalone net profit at Rs 58 crore for the second quarter ended September 30, 2016. It had registered a net profit of Rs 23 crore in the year-ago period.
EIH is trading marginally lower at Rs 101.65. The company that runs hotels and resorts under Oberoi and Trident brands said it plans to delist its global depository receipts from the London Stock Exchange in February 2017.
Bharti Airtel slipped 1% to Rs 301.55 on the BSE. The telecom company said its customers in the city could face some "teething issues" over the next few days as the country's largest telecom operator upgrades its 3G network.
Suven Life Sciences advanced 2%. Suven Life Sciences has secured two patents -one each from China and Mexico -- for its new chemical entities (NCEs) used in the treatment of neurodegenerative diseases.
NMDC gained 1.2%. Leading steel companies across the globe are showing interest in buying the Nagarnaar steel plant of the NMDC, which is coming up in Chhattisgarh’s Bastar district, as per media reports.
Vedanta soared 4.2% after the company is looking at increasing its captive power generation capacity by 1200MW amid rising production. The company is considering setting up 350MW super-critical units in joint ventures at its different production bases in the country.
For now, the Nifty’s move above 8000 level may bring in some psychological relief ahead of the monthly expiry of derivative contracts on Thursday. Metal, Realty and Auto stocks saw some buying on Tuesday while Capital Goods and Power companies were at the receiving end. The outlook is a positive start. The Dow Jones Industrial Average topped 19,000 intra-day. Gold is turning precious. Oil is inching higher, but this may not be sustainable. Expectations that policy makers will extend their stimulus programmes have kept European bonds upbeat.
At 1:30 PM, the S&P BSE Sensex is trading at 26,035 up 73 points, while NSE Nifty is trading at 8,026 up 24 points. A total of 6 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE.
The BSE Mid-cap Index is trading up 0.79% at 11,992, whereas BSE Small-cap Index is trading up 1.02% at 11,745.
Some buying activity is seen in Capital Goods, Metal, Pharma, Auto, while Oil & Gas, Energy, Finance, Telecom are showing weakness on BSE.
L&T, Hindalco, Tata Steel, PowerGrid, Asian Paints, Eicher Motors are among the gainers, whereas Zee Entertainment Enterprises, BPCL, Wipro, HDFC, M&M, Maruti, Dr Reddy are losing sheen on NSE in the first trading hour.
The INDIA VIX is up 0.55% at 18.5675.
A2Z Infra Engineering Ltd rallied 5%. The company's subsidiary A2Z Green Waste Management Limited (previously known as A2Z Infrastructure) (A2Z Green"), has on November 19, 2016, agreed to a framework with one of its lenders for a settlement of its various debt obligation aggregating to Rs 4161.84 million.
Lupin climbed 3.5% after the company has received tentative approval for its Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg from the USFDA to market a generic version of ViiV Healthcare Company's Epzicom Tablets, 600 mg/300 mg.
Larsen & Toubro soared 3%. Larsen & Toubro on Tuesday reported 84% in its consolidated net profit to Rs 1,435 crore for the quarter ended September 30 as compared to Rs 778 crore in the same period last year.
Wockhardt dropped 2.2% after the company informed the exchange that USFDA has issued a Warning Letter to C P Pharmaceuticals Limited, Wrexham, United Kingdom, a step down Subsidiary of the Company.
Sun Pharma rose 1.6%. The company announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.
Siemens gained 1%. The company will announce its Q2 numbers today.
Canara Bank inched up 0.50% on the BSE. The bank is planning to sell a portion of its 43% stake in arm Can Fin Homes as part of the government's diktat asking public sector banks look to sell their noncore businesses.
UltraTech Cement is trading in green on the BSE. The company on Tuesday said the Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the fair trade regulator Competition Commission of India against the company on deposit of 10% of the penalty amount.
Birla Corporation rallied 2%. Birla Corporation reported an over two-fold jump in standalone net profit at Rs 58 crore for the second quarter ended September 30, 2016. It had registered a net profit of Rs 23 crore in the year-ago period.
EIH is trading marginally lower at Rs 101.65. The company that runs hotels and resorts under Oberoi and Trident brands said it plans to delist its global depository receipts from the London Stock Exchange in February 2017.
Bharti Airtel slipped 1% to Rs 301.55 on the BSE. The telecom company said its customers in the city could face some "teething issues" over the next few days as the country's largest telecom operator upgrades its 3G network.
Suven Life Sciences advanced 2%. Suven Life Sciences has secured two patents -one each from China and Mexico -- for its new chemical entities (NCEs) used in the treatment of neurodegenerative diseases.
NMDC gained 1.2%. Leading steel companies across the globe are showing interest in buying the Nagarnaar steel plant of the NMDC, which is coming up in Chhattisgarh’s Bastar district, as per media reports.
Vedanta soared 4.2% after the company is looking at increasing its captive power generation capacity by 1200MW amid rising production. The company is considering setting up 350MW super-critical units in joint ventures at its different production bases in the country.
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