The Benchmark indices Sensex, Nifty ended the day in red, and touched day's low. Both indices dropped by 1%. Automobile, bank and cement stocks were the worst hit segments. The key trigger was the GST, wherein the committee were unable to reach a consensus on the roll out. There is a possibility that government might fail to meet its April 1, 2017 deadline. In addition, weak Index of Industrial Production (IIP) data, which was released last Friday, stated the overall industrial output has reduced by 1.9% yoy in October.
Another factor is the US Federal Reserve's Monetary Policy which is due this week. The meeting is to be held on December 13-14. Industry is expecting that the US Fed will raise rates. The expectation is that the hike will be around 25 bps.
The major Asian indices ended on mixed note where expect for Nikkei other key indices closed on weaker note. Following the OPEC and non-OPEC meeting, the outcome of the meet has resulted in increase of oil prices. The prices touched its peak after nearly two years. Chinese share indices fell nearly 5% on reports that the government had imposed curbs on stock trading by insurance companies. Furthermore, European indices were weighed down by the weakness in share markets in China and Hong Kong due to the new developments in China.
The BSE Sensex ended with a gain of 230 points at 26515. The benchmark indices opened at 26725.31, touched an intra-day high of 26725.31 and low of 26468.59.
The NSE Nifty gained 91 points and closed at 8,170. It opened at 8,230.65 points, hitting a high of 8,230.65 and low of 8,154.45.
The India VIX (Volatility) index was down 6.98% at 16.1200. The BSE Midcap closed at 12395.65 and Smallcap indices closed at 12230.63, both indices ended losing close to 1%.
Out of 1401 stocks traded on the NSE, 909 declined and 427 advanced today.
A total of 33 stocks registered a fresh 52-week high in trade today, whereas 16 stocks touched a new 52-week low on the NSE.
At the close of day, ONGC, NTPC, TCS, Sun Pharma, Bosch, L&T were the top gainers while Ambuja Cement, BPCL, Eicher Motors, Ultratech Cement, IndusInd Bank, Axis Bank, ACC were among the losers on NSE.
Gold was trading at Rs 27,576 per 10 gms and silver was trading at Rs 41,221 per kg. Gold falls to 10-month lows, the primary reason for the downfall is the nearing US Federal Reserve Monetary Policy announcement that will be out following the meeting on the December 13-14. The industry is expecting a rate hike.
On the global front, most Asian indices closed in red, while Japan's Nikkei 225 ended marginally up and in green. In Europe, the FTSE 100 was down 0.20%. CAC 40 was down 0.11% and DAX was down 0.32% while, the US Nasdaq was also up 0.50%.
Noteworthy Stocks:
State Bank of India sold 3.9% stake in its life insurance venture SBI Life to private equity firms KKR and Temasek. The deal values SBI Life at Rs 460 bn.
Another factor is the US Federal Reserve's Monetary Policy which is due this week. The meeting is to be held on December 13-14. Industry is expecting that the US Fed will raise rates. The expectation is that the hike will be around 25 bps.
The major Asian indices ended on mixed note where expect for Nikkei other key indices closed on weaker note. Following the OPEC and non-OPEC meeting, the outcome of the meet has resulted in increase of oil prices. The prices touched its peak after nearly two years. Chinese share indices fell nearly 5% on reports that the government had imposed curbs on stock trading by insurance companies. Furthermore, European indices were weighed down by the weakness in share markets in China and Hong Kong due to the new developments in China.
The BSE Sensex ended with a gain of 230 points at 26515. The benchmark indices opened at 26725.31, touched an intra-day high of 26725.31 and low of 26468.59.
The NSE Nifty gained 91 points and closed at 8,170. It opened at 8,230.65 points, hitting a high of 8,230.65 and low of 8,154.45.
The India VIX (Volatility) index was down 6.98% at 16.1200. The BSE Midcap closed at 12395.65 and Smallcap indices closed at 12230.63, both indices ended losing close to 1%.
Out of 1401 stocks traded on the NSE, 909 declined and 427 advanced today.
A total of 33 stocks registered a fresh 52-week high in trade today, whereas 16 stocks touched a new 52-week low on the NSE.
At the close of day, ONGC, NTPC, TCS, Sun Pharma, Bosch, L&T were the top gainers while Ambuja Cement, BPCL, Eicher Motors, Ultratech Cement, IndusInd Bank, Axis Bank, ACC were among the losers on NSE.
Gold was trading at Rs 27,576 per 10 gms and silver was trading at Rs 41,221 per kg. Gold falls to 10-month lows, the primary reason for the downfall is the nearing US Federal Reserve Monetary Policy announcement that will be out following the meeting on the December 13-14. The industry is expecting a rate hike.
On the global front, most Asian indices closed in red, while Japan's Nikkei 225 ended marginally up and in green. In Europe, the FTSE 100 was down 0.20%. CAC 40 was down 0.11% and DAX was down 0.32% while, the US Nasdaq was also up 0.50%.
Noteworthy Stocks:
State Bank of India sold 3.9% stake in its life insurance venture SBI Life to private equity firms KKR and Temasek. The deal values SBI Life at Rs 460 bn.
Oil and Natural Gas Corp is awaiting nod of upstream regulator DGH to commence investing USD5.07bn in bringing to production oil and gas discoveries in its Bay of Bengal block KG-D5.
Natco Pharma launches Tamiflu oral capsules in US market; stock up 0.5%.
JSW Energy in talks to buy Monnet Power's Odisha plant, stock up 1.19%
NMDC shares up 1.94% as Q2 net profits were above estimates.
Life Insurance Corporation (LIC) has hiked its stake in Bata India by 2.03%, taking its total shareholding to 7.05% in the company.
Bajaj Finance Limited stocks down 5.75% is primarily the ensuing impact of demonetisation.
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